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

Author/Editor:

P. van den Boogaerde ; Charalambos G Tsangarides

Publication Date:

July 1, 2005

Electronic Access:

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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.

Series:

Working Paper No. 05/145

Subject:

English

Publication Date:

July 1, 2005

ISBN/ISSN:

9781451861648/1018-5941

Stock No:

WPIEA2005145

Format:

Paper

Pages:

30

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