ECOWAS: Position of non-WAEMU Members with Respect to the Convergence Criteria 1/
|Gross official reserves|
(In months of imports)
|Central bank advances|
(In percent of tax revenue)
|Overall fiscal deficit 2/|
(In percent of GDP)
|Situation at end–1999|
|Norms for end–2000||<10||>3||…||<5|
|Norms for end–2003||<5||>6||<10||<4|
Cape Verde was not signatory of the “Accra Declaration” on the creation of a second monetary zone in 2003.
Central bank advances are in percent of total government revenue.