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The West African Economic and Monetary Union
			: Recent Developments and Policy Issues

The West African Economic and Monetary Union : Recent Developments and Policy Issues »

Series: Occasional Papers

Author(s): Ernesto Hernández-Catá , and C. François

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 1998

DOI: http://dx.doi.org/10.5089/9781557757555.084

ISBN: 9781557757555

Keywords: exchange rate, real exchange rate, external tariff, banking, tradable goods

Following a serious deterioration of the competitive position of the WAEMU region in the 1980s and the eary 1990s, the countries took steps that have led to a significant turnaround in economic activity, a drop in...

I Overview

I Overview »

Source: The West African Economic and Monetary Union : Recent Developments and Policy Issues

Series: Occasional Papers

Author(s): Ernesto Hernández-Catá , and C. François

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 1998

ISBN: 9781557757555

Keywords: exchange rate, real exchange rate, external tariff, banking, tradable goods

In January 1994, seven sub-Saharan African countries—Benin, Burkina Faso, Côte dď lvoire, Mali. Niger, Senegal, and Togo—signed a treaty establishing the West African Economic and Monetary Union (WAEMU). The...

II Recent Economic Developments

II Recent Economic Developments »

Source: The West African Economic and Monetary Union : Recent Developments and Policy Issues

Series: Occasional Papers

Author(s): Ernesto Hernández-Catá , and C. François

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 1998

ISBN: 9781557757555

Keywords: exchange rate, real exchange rate, external tariff, banking, tradable goods

During the second half of the 1980s and in the early 1990s, a prolonged deterioration of the terms of trade, a steep increase in labor costs, and the nominal appreciation of the French franc against the U.S....

III Main Regional Policy Issues

III Main Regional Policy Issues »

Source: The West African Economic and Monetary Union : Recent Developments and Policy Issues

Series: Occasional Papers

Author(s): Ernesto Hernández-Catá , and C. François

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 1998

ISBN: 9781557757555

Keywords: exchange rate, real exchange rate, external tariff, banking, tradable goods

Monetary Policy The BCEAO conducts monetary policy in the WAEMU at the regional level. Its basic near-term objectives are (1) to maintain the fixed exchange rate relationship between...

IV Other Regional Issues

IV Other Regional Issues »

Source: The West African Economic and Monetary Union : Recent Developments and Policy Issues

Series: Occasional Papers

Author(s): Ernesto Hernández-Catá , and C. François

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 1998

ISBN: 9781557757555

Keywords: exchange rate, real exchange rate, external tariff, banking, tradable goods

As a key element in the achievement of sustainable long-run growth, investment is given top priority in the development of the WAEMUď s economic policy. On average, rates of investment in the WAEMU are compa...

V Conclusions

V Conclusions »

Source: The West African Economic and Monetary Union : Recent Developments and Policy Issues

Series: Occasional Papers

Author(s): Ernesto Hernández-Catá , and C. François

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 1998

ISBN: 9781557757555

Keywords: exchange rate, real exchange rate, external tariff, banking, tradable goods

Economic performance in the WAEMU has improved considerably since the devaluation of the CFA franc in 1994. The growth of output has increased rapidly and now exceeds population growth by a subs...

Back Matter

Back Matter »

Source: The West African Economic and Monetary Union : Recent Developments and Policy Issues

Series: Occasional Papers

Author(s): Ernesto Hernández-Catá , and C. François

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 1998

ISBN: 9781557757555

Keywords: exchange rate, real exchange rate, external tariff, banking, tradable goods

Following a serious deterioration of the competitive position of the WAEMU region in the 1980s and the eary 1990s, the countries took steps that have led to a significant turnaround in economic activity, a drop in...

Front Matter

Front Matter »

Source: The West African Economic and Monetary Union : Recent Developments and Policy Issues

Series: Occasional Papers

Author(s): Ernesto Hernández-Catá , and C. François

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 1998

ISBN: 9781557757555

Keywords: exchange rate, real exchange rate, external tariff, banking, tradable goods

Following a serious deterioration of the competitive position of the WAEMU region in the 1980s and the eary 1990s, the countries took steps that have led to a significant turnaround in economic activity, a drop in...