Inflation Dynamics In The West African Economic And Monetary Union PDF Download
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Author | : Cecilia Melo Fernandes |
Publisher | : International Monetary Fund |
Total Pages | : 19 |
Release | : 2023-06-19 |
Genre | : Business & Economics |
ISBN | : |
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This paper analyzes recent inflation developments in the WAEMU. As in all inflation spikes in the past two decades, food is the main driver of inflation. The contribution from energy prices is also increasing, while inflation contagion effects are still limited to a few sectors. The share of professionals that believe that inflation will continue above the target within the one-year horizon is at high levels compared to 2021. Based on projections from two models, the chapter also evaluates the appropriate monetary policy responses to the recent inflationary pressures. The results suggest that inflation is expected to converge to its target range within 24 months given the reduction of exogenous shocks weighing-in on food and energy prices, the exhaustion of base effects as well as a reduction in supply and demand imbalances. However, numerous external and internal factors affect inflation prospects and should be carefully monitored, given the pronounced uncertainty surrounding geopolitical and economic developments, and further monetary policy tighten would be necessary unless downside risks to forecasts for baseline inflation and external buffers improve.
Author | : International Monetary Fund. African Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 56 |
Release | : 2023-03-07 |
Genre | : Business & Economics |
ISBN | : |
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West African Economic and Monetary Union: Selected Issues
Author | : International Monetary Fund. African Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 74 |
Release | : 2021-03-02 |
Genre | : Business & Economics |
ISBN | : 1513571044 |
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Selected Issues
Author | : International Monetary Fund. African Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 84 |
Release | : 2018-04-25 |
Genre | : Business & Economics |
ISBN | : 148435298X |
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Selected Issues
Author | : International Monetary Fund. African Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 70 |
Release | : 2015-04-13 |
Genre | : Business & Economics |
ISBN | : 1484326512 |
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This 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.
Author | : International Monetary Fund. African Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 70 |
Release | : 2023-02-28 |
Genre | : Business & Economics |
ISBN | : |
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The 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.
Author | : International Monetary Fund. African Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 72 |
Release | : 2024-04-17 |
Genre | : Business & Economics |
ISBN | : |
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The 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.
Author | : |
Publisher | : |
Total Pages | : 356 |
Release | : 2007 |
Genre | : Inflation (Finance) |
ISBN | : |
Download West African Monetary Zone Book in PDF, ePub and Kindle
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 67 |
Release | : 2011-05-06 |
Genre | : Business & Economics |
ISBN | : 1455274496 |
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In 2010, average inflation has remained low in all West African Economic and Monetary Union (WAEMU) countries, but has edged up in the second half of the year. After a moderate fiscal easing by about 11⁄2 percentage points of GDP in 2009, mostly the result of higher capital spending, the area-wide average deficit is estimated to have declined slightly to 3.1 percent of GDP in 2010. A compression of imports in 2009, the region’s external current account deficit is estimated to have returned to about 51⁄2 percent of GDP in 2010.
Author | : International Monetary |
Publisher | : International Monetary Fund |
Total Pages | : 68 |
Release | : 2022-03-02 |
Genre | : Business & Economics |
ISBN | : |
Download West African Economic and Monetary Union: Staff Report On Common Policies for Member Countries-Press Release; Staff Report; and Statement by the Executive for the WAEMU Book in PDF, ePub and Kindle
The WAEMU has, so far, demonstrated strong resilience to the Covid crisis. The economic rebound that started in the second half of 2020 firmed up in 2021, while fiscal and monetary policies remained supportive. External reserves have risen to comfortable levels and the financial system appears to be broadly sound. However, the region faces significant challenges to ensure the sustainability of macroeconomic policies, while supporting the economic recovery and navigating the uncertain outlook.