West African Economic and Monetary Union (WAEMU): Staff Report on Common Policies for Member Countries

IMF Staff Country Reports, March 22, 2012

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West African Economic and Monetary Union (WAEMU): Staff Report on Common Policies for Member Countries

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Bibliographic details

• Published: March 22, 2012
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781475502428.002

Overview

• Publication date: March 22, 2012
• Series: Country Report No. 2012/059
• Issue: 059
• Volume: 2012
• Pages: 70
• DOI: https://doi.org/10.5089/9781475502428.002
• ISBN: 9781475502428
• ISSN: 1934-7685
• Stock No: 1WAUEA2012001
• Also available in French

Context and key risks

• The region faced a number of challenges in 2011, including:
  • The intensification of the political crisis in Côte d’Ivoire.
  • A large increase in global food and fuel prices.
  • The drought in the Sahel.
• A materialization of downside risks could require policy adjustments at the union and country levels.

Main findings and scenarios

• Macro policy implications identified:
  • A monetary policy relaxation for the union could be required if downside risks materialize.
  • Differentiated fiscal responses across member countries would likely be needed.
  • The drought in the Sahel may necessitate a more active fiscal policy in the affected countries.

Policy recommendations (as presented)

• Consider monetary policy relaxation for the WAEMU union in response to downside risks.
• Implement differentiated fiscal responses tailored to member country circumstances.
• Deploy more active fiscal policy in Sahel countries affected by drought.

Thematic coverage (subjects and keywords)

• Subjects: Banking, Economic integration, Expenditure, Fiscal policy, Fiscal stance, Inflation, Prices, Public debt, Regional integration
• Keywords: authorities' decision, authority, broad money, CR, crisis, euro zone crisis, Fiscal stance, Global, Inflation, ISCR, maturing Ivorian government paper, Regional integration, Sub-Saharan Africa, WAEMU commission, West Africa

International Monetary Fund. West African Economic and Monetary Union (WAEMU): Staff Report on Common Policies for Member Countries, IMF Staff Country Reports 2012, 059 (2012).

Content in this bundle

• _cr1259
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• _cr1259f — Extraits: INTRODUCTION; 16. L'orientation de la politique; sections sélectionnées
  • _cr1259f — Extraits: INTRODUCTION; 16. L'orientation de la politique; sections sélectionnées (Markdown version)
  • _cr1259f — Extraits: INTRODUCTION; 16. L'orientation de la politique; sections sélectionnées (PDF)