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Responding to Shocks and Maintaining Stability in the West African Economic and Monetary Union

The West African Economic and Monetary Union (WAEMU), like other monetary unions, faces a number of challenges in dealing with macroeconomic shocks. The region experiences a large number of exogenous shocks: climate-related (e.g., droughts, floods), with a heavy toll on populations and agriculture,...

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Bibliographic Details
Main Author: Kolerus, Christina
Other Authors: Zdzienicka, Aleksandra, Hitaj, Ermal, Shapiro, Douglas
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2013
Series:Departmental Papers
Subjects:
Business Cycles
Public Debt
Economic Integration
Public Finance & Taxation
Debt Management
Debts, Public
Financial Aspects Of Economic Integration
Debt
Exports And Imports
International Economics
International Lending And Debt Problems
Debts, External
External Debt
Sovereign Debt
Economic Growth
Macroeconomics
Debt Sustainability
Prices, Business Fluctuations, And Cycles: General (includes Measurement And Data)
Monetary Unions
Public Finance
Debt Sustainability Analysis
Mali
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:The West African Economic and Monetary Union (WAEMU), like other monetary unions, faces a number of challenges in dealing with macroeconomic shocks. The region experiences a large number of exogenous shocks: climate-related (e.g., droughts, floods), with a heavy toll on populations and agriculture, but also economic (e.g., terms of trade), with a large impact on key sectors and the cost of living. More generally business cycle synchronization within the WAEMU seems low. Addressing these shocks, while preserving the stability of the union, is therefore a critical issue in the WAEMU.This paper discusses these issues and suggests possible reforms
Physical Description:41 pages
ISBN:9781484341186

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