West African Economic and Monetary Union (WAEMU): Recent Economic Developments and Regional Policy Issues; and Public Information Notice on the Executive Board Discussion
IMF Staff Country Reports, March 14, 2003
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- West African Economic and Monetary Union (WAEMU): Recent Economic Developments and Regional Policy Issues; and Public Information Notice on the Executive Board Discussion
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Bibliographic details
- Published: March 14, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451840612.002
Summary
- This report examines recent economic developments and regional policy issues in the West African Economic and Monetary Union (WAEMU).
- Although progress has been achieved on the integration front since 1994, including the establishment of a customs union and the creation of the economic union, the momentum of integration appears to have slowed in recent years.
- Progress toward convergence of the WAEMU countries during 2001 and 2002 was below expectations, and difficulties were encountered in the effective implementation of various regional reforms.
Major findings and issues
- Integration milestones achieved since 1994:
- Establishment of a customs union.
- Creation of the economic union.
- Recent challenges:
- Slowing momentum of integration in recent years.
- Progress toward convergence during 2001 and 2002 was below expectations.
- Difficulties in the effective implementation of various regional reforms.
Subject coverage and keywords
- Subject areas: Banking, Credit, External position, Financial institutions, Fiscal policy, Fiscal stance, Foreign assets, Monetary base, Money, Nonperforming loans.
- Keywords: authorities of the WAEMU, CFA franc, CR, Credit, Fiscal stance, Foreign assets, ISCR, Monetary base, monetary policy, monetary union, Nonperforming loans, Sub-Saharan Africa, WAEMU country, WAEMU economy, WAEMU region, West Africa.