West African Economic and Monetary Union (WAEMU): Recent Economic Developments and Regional Policy Issues; and Public Information Notice on the Executive Board Discussion

Author: International Monetary Fund

Volume/Issue: Volume 2003 Issue 070

Publication date: March 2003

ISBN: 9781451840612

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , ISCR , CR , WAEMU economy , CFA franc , monetary union , WAEMU country , monetary policy , WAEMU region , authorities of the WAEMU , Nonperforming loans , Foreign assets , Credit , Fiscal stance , Monetary base , West Africa , Sub-Saharan Africa

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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.