Ten Years After the CFA Franc Devaluation: Progress Toward Regional Integration in the WAEMU

By P. van den Boogaerde, Charalambos G Tsangarides

July 1, 2005

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Format: Chicago

P. van den Boogaerde, and Charalambos G Tsangarides. Ten Years After the CFA Franc Devaluation: Progress Toward Regional Integration in the WAEMU, (USA: International Monetary Fund, 2005) accessed September 20, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper takes stock of the achievements toward integration in the West African Economic and Monetary Union (WAEMU) 10 years after the 1994 devaluation of the CFA franc. It investigates the lessons learned and evaluates progress toward economic convergence, examines the evolution of trade and competitiveness, and points to ways to remove impediments to greater integration. The paper concludes that a continued political commitment will be needed to overcome the important dissimilarities between WAEMU member countries that have limited the degree of convergence achieved to date, and to advance toward a full-fledged economic union.

Subject: Agricultural commodities, Competition, Exports, Real effective exchange rates, Terms of trade

Keywords: Country, Landlocked WAEMU country, Renewed competitiveness, WAEMU share, WP

Publication Details

Pages:

30
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2005/145
Stock No:

WPIEA2005145
ISBN:

9781451861648
ISSN:

1018-5941

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