West African Economic and Monetary Union: Common Policies of Member Countries-Press Release; Staff Report; and Statement by the Executive Director for the West African Economic and Monetary Union

IMF Staff Country Reports, April 26, 2017

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West African Economic and Monetary Union: Common Policies of Member Countries-Press Release; Staff Report; and Statement by the Executive Director for the West African Economic and Monetary Union

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Bibliographic details

• Published: April 26, 2017
• Series: IMF Staff Country Reports

Summary of economic performance (findings)

• Real GDP growth is estimated to have reached 6.2 percent in 2016, underpinned by robust and resilient domestic demand.
• Inflation remained subdued, at about 0.4 percent on average in 2016, owing to continued solid agricultural production and low oil prices.
• Preliminary data suggest an overall fiscal deficit of 4.5 percent of GDP in 2016, higher than initially planned.
• Economic activity in WAEMU has remained strong but vulnerabilities have increased.

Outlook and policy implications (analysis and recommendations)

• The outlook is described as positive provided there is continued macroeconomic stability.
• Policy emphasis: improve the business environment and promote private investment to sustain positive prospects.
• Implicit policy priority: maintain fiscal and monetary stability to contain rising vulnerabilities.

Thematic focus areas covered (subject tags preserved)

• Banking
• Expenditure
• Fiscal consolidation
• Fiscal policy
• Government debt management
• Public debt
• Public financial management (PFM)
• Public investment and public-private partnerships (PPP)

Keywords and governance references (as listed)

• authorities' conviction
• authority
• BCEAO authorities
• broad money
• CR
• credit facility rate
• Fiscal consolidation
• Global
• Government debt management
• IMF definition
• interbank market
• ISCR
• Public investment and public-private partnerships (PPP)
• WAEMU Commission
• WAEMU convergence criterion
• WAEMU region
• West Africa

Content in this bundle

• Country Report
  • Country Report (Markdown version)
  • Country Report (PDF)