Practicability Of A West African Monetary Zone PDF Download
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Author | : Damian J. Nwankwo |
Publisher | : |
Total Pages | : 14 |
Release | : 2019 |
Genre | : |
ISBN | : |
Download Practicability of A West African Monetary Zone Book in PDF, ePub and Kindle
What are the necessary and sufficient conditions for meeting the convergence criteria and thereafter, for the formation of the West African Monetary Zone (WAMZ), a counterpart of the European Monetary Union (EMU)? Against this background, the paper examines the practicability of achieving or otherwise the West African Monetary Zone which aims at the rapid integration of the six West African economies of The Gambia, Ghana, Guinea, Liberia, Nigeria and Sierra Leone. The paper employs the content analysis approach for this examination and discovered that drawing its experience from EMU, WAMZ has not been able to realize the objective of fostering rapid integration of the six economies of West African countries into a monetary union because of weak macroeconomic policy coordination within the ECOWAS sub-region, trade barriers, unstable exchange rate, and money and capital flow contracts limited formal intra-regional trade. In this regard, the paper argues that unless the fundamentals and the convergence of core macroeconomic instruments of fiscal, monetary and exchange rate policies are attained, improved upon and ensured by the integrating sub-countries, the achievement of a common monetary and economic union for the West African States may be elusive. This paper recommends the strengthening the fiscal, monetary and exchange rate policies performances by all the integrating WAMZ countries, and enforcement of the various regional agreements such as the ECOWAS trade liberalization scheme.
Author | : West African Monetary Institute |
Publisher | : |
Total Pages | : 12 |
Release | : 2006* |
Genre | : Banks and banking |
ISBN | : |
Download ECO Book in PDF, ePub and Kindle
Author | : International Monetary Fund. African Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 89 |
Release | : 2024-04-17 |
Genre | : Business & Economics |
ISBN | : |
Download West African Economic and Monetary Union Book in PDF, ePub and Kindle
West African Economic and Monetary Union: Selected Issues
Author | : |
Publisher | : |
Total Pages | : 96 |
Release | : 2002 |
Genre | : Africa, West |
ISBN | : |
Download Assessment of Preparedness of the West African Monetary Zone for the Monetary Union Book in PDF, ePub and Kindle
Author | : International Monetary |
Publisher | : International Monetary Fund |
Total Pages | : 58 |
Release | : 2022-03-02 |
Genre | : Business & Economics |
ISBN | : |
Download West African Economic and Monetary Union: Selected Issues Book in PDF, ePub and Kindle
Selected Issues
Author | : |
Publisher | : |
Total Pages | : 666 |
Release | : 2004 |
Genre | : Monetary policy |
ISBN | : |
Download Payments System Study in the West African Monetary Zone (WAMZ) Book in PDF, ePub and Kindle
Author | : |
Publisher | : |
Total Pages | : 20 |
Release | : 2009 |
Genre | : Foreign exchange |
ISBN | : |
Download Introducing the Eco Book in PDF, ePub and Kindle
Author | : Joseph Asenso |
Publisher | : LAP Lambert Academic Publishing |
Total Pages | : 180 |
Release | : 2012-01 |
Genre | : |
ISBN | : 9783847377863 |
Download The West African Monetary Zone: Eligibility for Monetary Unification Book in PDF, ePub and Kindle
The desire to enhance intra-regional trade and the well-being of their citizens has led six West African countries - The Gambia, Ghana, Guinea, Liberia, Nigeria and Sierra Leone - to consider forming a monetary union. This would involve the use of a single currency, the Eco, issued by a new regional central bank, the West African Central Bank. The elimination of transactions costs associated with trade involving the of use of multiple currencies has been touted as the single most important benefit of this arrangement. On the other hand, the loss of monetary policy independence by countries and the attendant ramifications could pose a significant downside risk. The study seeks to ascertain the preparedness of the West African Monetary Zone (WAMZ) to form a monetary union by doing price trend analysis, demand and supply shocks analysis and trade endogeneity tests. From an economic point of view, the study results indicate that the countries should postpone this plan until their shocks begin to co-move in order to forestall an economic/financial crisis. The sovereign debt crisis of the euro area should serve as a caution to the WAMZ.
Author | : International Monetary Fund. African Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 106 |
Release | : 2013-04-03 |
Genre | : Business & Economics |
ISBN | : 1484375823 |
Download West African Economic and Monetary Union (WAEMU) Book in PDF, ePub and Kindle
Military coups that occurred in Guinea-Bissau and Mali caused economic disruption in the WAEMU countries. Regional policies have been in line with the recommendations, and growth is expected to remain robust, risks are on the downside, and the macroeconomic policy is appropriate. Preserving debt sustainability and stability of the Union in the medium term requires better coordination of fiscal policies. Development of the financial system, and strengthening of the regulatory and supervisory framework is necessary to address existing and new risks.
Author | : International Monetary Fund. African Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 72 |
Release | : 2024-04-17 |
Genre | : Business & Economics |
ISBN | : |
Download West African Economic and Monetary Union Book in PDF, ePub and Kindle
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.