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The West African Monetary Union An Analytical Review

The West African Monetary Union An Analytical Review »

Series: Occasional Papers

Author(s): Rattan Bhatia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 1985

DOI: http://dx.doi.org/10.5089/9781616351083.084

ISBN: 9781616351083

Keywords: West African Monetary Union, rediscount, monetary fund, central bank, money supply, money market

Until 1984, the West African Monetary Union (WAMU) consisted of six West African countries- Benin, Burkina Faso, Ivory Coast, Niger, Senegal, and Togo. (Mali withdrew from the Union in 1961 and rejoined in 1984; it...

I The West African Monetary Union and the Theory of Currency Unions

I The West African Monetary Union and the Theory of Currency Unions »

Source: The West African Monetary Union An Analytical Review

Series: Occasional Papers

Author(s): Rattan Bhatia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 1985

ISBN: 9781616351083

Keywords: West African Monetary Union, rediscount, monetary fund, central bank, money supply, money market

Until 1984, the West African Monetary Union (WAMU) consisted of six West African countries—Benin, Burkina Faso, Ivory Coast, Niger, Senegal, and Togo. (Mali withdrew from the Union in 1961 and rejoined in 19...

II The Central Bank of West African States, 1962–74: Its Structure and Functions

II The Central Bank of West African States, 1962–74: Its Structure and Functions »

Source: The West African Monetary Union An Analytical Review

Series: Occasional Papers

Author(s): Rattan Bhatia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 1985

ISBN: 9781616351083

Keywords: West African Monetary Union, rediscount, monetary fund, central bank, money supply, money market

The “politico-economic” framework within which the BCEAO operated changed between the time it look on the broader functions of a common central bank in 1962, and the revision of its statutes in 1974. At the...

III The Money Supply Process and the Use of Monetary Instruments, 1963–74

III The Money Supply Process and the Use of Monetary Instruments, 1963–74 »

Source: The West African Monetary Union An Analytical Review

Series: Occasional Papers

Author(s): Rattan Bhatia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 1985

ISBN: 9781616351083

Keywords: West African Monetary Union, rediscount, monetary fund, central bank, money supply, money market

The BCEAO area is open to trade and payments, which sets obvious limits on how far it can have an independent monetary policy because the balance of payments outcome is almost exogenously determined by produ...

IV Credit Inflation and the Reform of the Monetary Union, 1974

IV Credit Inflation and the Reform of the Monetary Union, 1974 »

Source: The West African Monetary Union An Analytical Review

Series: Occasional Papers

Author(s): Rattan Bhatia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 1985

ISBN: 9781616351083

Keywords: West African Monetary Union, rediscount, monetary fund, central bank, money supply, money market

As observed earlier, between 1963 and 1974 the deposits of commercial banks increased faster than their demand for rediscountable credit. This, coupled with the BCEAO’s readiness to provide liberal rediscoun...

V Credit Policy and Developments, 1974–82

V Credit Policy and Developments, 1974–82 »

Source: The West African Monetary Union An Analytical Review

Series: Occasional Papers

Author(s): Rattan Bhatia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 1985

ISBN: 9781616351083

Keywords: West African Monetary Union, rediscount, monetary fund, central bank, money supply, money market

As noted in the Section IV, until recently the BCEAO continued to rely mainly on its rediscount policy to influence monetary developments and, to some extent, on the mechanism of prior authorization to deter...

VI Fiscal Policy

VI Fiscal Policy »

Source: The West African Monetary Union An Analytical Review

Series: Occasional Papers

Author(s): Rattan Bhatia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 1985

ISBN: 9781616351083

Keywords: West African Monetary Union, rediscount, monetary fund, central bank, money supply, money market

A monetary union, with its explicit coordination of monetary and exchange policies, also implies some cooperation in the fiscal policies of member countries. Unduly divergent fiscal policies could lead to un...

VII Cost-Price Distortions and Adjustment

VII Cost-Price Distortions and Adjustment »

Source: The West African Monetary Union An Analytical Review

Series: Occasional Papers

Author(s): Rattan Bhatia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 1985

ISBN: 9781616351083

Keywords: West African Monetary Union, rediscount, monetary fund, central bank, money supply, money market

The earlier sections have demonstrated that, notwithstanding the reforms of the BCEAO in 1974, monetary and fiscal developments have differed considerably among member countries. Theoretically, in a union wi...

The Global Financial Crisis

The Global Financial Crisis »

Source: The Global Financial Crisis : Impact on WAEMU Member Countries and Policy Options

Volume/Issue: 2009/16

Series: IMF Staff Position Notes

Author(s): Johannes Mueller , Irene Yackovlev , and Hans Weisfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 March 2009

ISBN: 9781455229017

Keywords: Current account deficits, Credit risk, Banking sector, Bank supervision, Aid flows, External shocks, Financial crisis, Monetary unions, Monetary policy, Liquidity management

Most WAEMU countries are likely to see economic growth deteriorate over the next two years as a result of the global economic crisis, and some WAEMU countries will be more severely affected by the crisis than other...

Cotton Sector Strategies in West and Central Africa

Cotton Sector Strategies in West and Central Africa »

Source: Cotton Sector Strategies in West and Central Africa

Volume/Issue: 2002/173

Series: IMF Working Papers

Author(s): Louis Goreux , Paul Masson , Dhaneshwar Ghura , and Ousmane Badiane

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2002

ISBN: 9781451858648

Keywords: World Cotton Market, Cotton Subsidies, Cotton Sector Reform, West and Central Africa, cotton sector, farmers, crop, cotton production, farm, Market Structure and Pricing: Oligopoly and Other Forms of Market Imperfection

Cotton production in West and Central Africa (WCA) has contributed to growth and poverty reduction. Recently, the objective of poverty alleviation has been adversely impacted by the downward pressures on world pric...