West African Economic and Monetary Union
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
Published: 2021-03-02
Total Pages: 74
ISBN-13: 1513571044
DOWNLOAD EBOOKSelected Issues
Posts
West African Economic and Monetary Union (WAEMU)
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 2012-03-22
Total Pages: 71
ISBN-13: 1475571313
DOWNLOAD EBOOKThe staff report on discussions with regional institutions of the West African Economic and Monetary Union is presented. The region faced a number of challenges in 2011, with the intensification of the political crisis in Côte d’Ivoire and a large increase in global food and fuel prices. A materialization of downside risks could require a monetary policy relaxation for the union and differentiated fiscal responses across member countries. The drought in the Sahel may also require a more active fiscal policy in the affected countries.
West African Economic and Monetary Union
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
Published: 2015-04-13
Total Pages: 70
ISBN-13: 1484326512
DOWNLOAD EBOOKThis Selected Issues paper on West African Economic and Monetary Union presents external stability assessment report. The current account deficit declined in 2014. Although gross international reserve coverage has increased slightly, part of the current account deficit has been financed by a decline in commercial banks’ net foreign assets. Contingent on the implementation of government’s consolidation plans, and helped by a favorable oil price outlook, the current account deficit would further gradually decline and be matched by enough financial inflows in the medium term. According to various metrics, the real exchange rate appears to be broadly aligned with fundamentals. International reserve coverage should increase to provide stronger buffers against immediate short-term risks. Structural competitiveness and investment efficiency improvements will be essential to ensure that the planned large investment programs translate into growth and export gains as well as increased private inflows into the region.
West African Economic and Monetary Union: Selected Issues
Author: International Monetary
Publisher: International Monetary Fund
Published: 2022-03-02
Total Pages: 58
ISBN-13:
DOWNLOAD EBOOKSelected Issues
West African Economic and Monetary Union
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
Published: 2024-04-17
Total Pages: 72
ISBN-13:
DOWNLOAD EBOOKThe WAEMU has seen strong growth and rising living standards over the past decade. Economic growth averaged 5.4 percent in 2013-2019 and 5.8 percent in 2021-2023. Policy efforts from regional and national authorities have cushioned the impact of several external and internal shocks, prompting a solid economic recovery since the COVID-19 pandemic, despite increasing security issues. Meanwhile, the Human Development Index has increased from 0.44 in 2013 to 0.48 in 2021.
West African Economic and Monetary Union (WAEMU)
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
Published: 2019-03-29
Total Pages: 49
ISBN-13: 1498305946
DOWNLOAD EBOOKThis Selected Issues paper reviews West African Economic and Monetary Union’s (WAEMU) regional macroeconomic surveillance framework to control all sources of debt accumulation and ensure debt sustainability. WAEMU’s regional surveillance framework aims at ensuring the sustainability of national fiscal policies and their consistency with the common monetary policy. While fiscal deficits have been the main driver of public debt across WAEMU member countries, the size of residual factors has varied greatly among these countries. The WAEMU Macroeconomic Surveillance Framework would benefit from adjustments to more effectively set the region’s public debt on a sustainable path. In addition, beyond adhering to the WAEMU fiscal deficit rule, member countries must curb below-the-budget-line operations. This would require improved monitoring of fiscal risks and the building of adequate budget provisions to address such risks before they materialize. Improved Treasury practices would also help eliminate the recourse to pre-financing arrangements and tighten control over expenditure. Public dissemination of the WAEMU progress report and strengthened peer-to-peer learning among member countries could improve the momentum for reforms.
West African Economic and Monetary Union
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
Published: 2023-02-28
Total Pages: 70
ISBN-13:
DOWNLOAD EBOOKThe WAEMU’s post-Covid-19 recovery has so far withstood the new global and regional shocks, partly owing to supportive fiscal and monetary policies as well as relatively strong macroeconomic fundamentals over the previous decade. Growth prospects remain favorable, reserves—albeit declining—remain adequate, and the financial system appears to be resilient. However, the region faces important challenges associated with rising inflation, limited access to international capital markets, eroding external buffers, and regional security issues, in the presence of elevated global risks.
West African Economic and Monetary Union (WAEMU)
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
Published: 2019-06-11
Total Pages: 50
ISBN-13: 1498318991
DOWNLOAD EBOOKThis staff report on discussions with regional institutions of the West African Economic and Monetary Union (WAEMU) was prepared by a staff team of the International Monetary Fund in the context of the periodic regional surveillance of the WAEMU. The regional perspective of such discussions is intended to strengthen the bilateral discussions that the IMF holds with the members in the region under Article IV of the IMF’s Articles of Agreement
West African Economic and Monetary Union
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
Published: 2015-04-13
Total Pages: 48
ISBN-13: 1484325265
DOWNLOAD EBOOKKEY ISSUES Context. The region continued to experience strong growth in 2014, led by the continued economic expansion in Cote d’Ivoire. The outlook is for further strong growth, subject to a range of downward risks, in particular political instability ahead of upcoming elections in several countries, and security issues in Mali and Niger. With an elevated fiscal deficit exerting pressure on the balance of payments and the regional financial market, delays in fiscal consolidation or structural reforms pose the main medium-term risks. Policy recommendations: • Fiscal consolidation. Safeguarding external stability in the region will require governments to adhere to their budget deficit reduction plans while maintaining public investment efforts, which will require increasing tax revenue and controlling current expenditure. • Monetary policy. Macroeconomic conditions do not warrant a tightening of monetary policy at this juncture. However, if fiscal deficits do not decline as envisaged, the BCEAO should consider increasing its policy rates. In the mean time, the BCEAO should very closely follow the evolution of the macro-prudential risks flowing from its sharp increase in commercial bank refinancing. • Financial stability. The WAEMU authorities should enforce existing prudential rules and raise standards to international best practice. Ongoing reforms go in the right direction but need to be accelerated. • Structural transformation and regional integration. Policies to promote structural transformation should focus on addressing weaknesses, such as the lack of education and training, finance, and supportive regulatory environments. Countries should refrain from using the possibility to deviate from the common external tariff of the Economic Community of West African States (ECOWAS) in force since January 1, 2015, in order to protect the gains from regional integration in WAEMU.
West African Economic and Monetary Union (WAEMU).
Author: INTERNATIONAL MONETARY. FUND
Publisher:
Published: 2016
Total Pages:
ISBN-13: 9781484312803
DOWNLOAD EBOOKThis paper presents stylized facts on the quantitative and qualitative infrastructure gap in the West African Economic and Monetary Union (WAEMU), estimates the efficiency of public investment, and recommends how to improve it. The WAEMU countries face an important common challenge of creating sufficient fiscal space to finance ambitious growth, development, and poverty-reduction programs in individual countries. This paper also provides comparative evidence of the situation of WAEMU in several areas of financial development relative to groups of benchmark countries. The state of inclusion in.
