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The role of the euro in Sub-Saharan Africa and in the CFA franc zone

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  • Martin Hallet
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    Abstract

    The paper analyses different aspects of the role that the euro is currently playing in sub-Saharan Africa (SSA) and in the CFA franc zone of West and Central Africa. As similar contributions on the role of the euro in other global regions, it served as background information for the analysis of the European Commission on the international role of the euro for the assessment of 10 years of European Economic and Monetary Union ("EMU@10"). The paper examines the role of the euro as an international currency in Sub-Saharan Africa, assesses the effects that the CFA franc's peg to the euro had on macroeconomic stability, trade integration and international competitiveness of the CFA franc zone, and finally looks at how the EU's multilateral surveillance framework served as a blueprint for multilateral surveillance in the CFA franc zone.

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    File URL: http://ec.europa.eu/economy_finance/publications/publication13478_en.pdf
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    Bibliographic Info

    Paper provided by Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission in its series European Economy - Economic Papers with number 347.

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    Length: 29 pages
    Date of creation: Nov 2008
    Date of revision:
    Handle: RePEc:euf:ecopap:0347

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    Related research

    Keywords: Africa; Sub-Saharan Africa; CFA franc zone; West Africa; Central Africa; Euro; Africa; CFA franc; monetary union; macroeconomic surveillance; Stability Pact; Hallet;

    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Mahvash Saeed Qureshi & Charalambos G. Tsangarides, 2006. "What is Fuzzy About Clustering in West Africa?," IMF Working Papers 06/90, International Monetary Fund.
    2. Charalambos G. Tsangarides & Yasser Abdih, 2006. "FEER for the CFA Franc," IMF Working Papers 06/236, International Monetary Fund.
    3. Kamps, Annette, 2006. "The euro as invoicing currency in international trade," Working Paper Series 0665, European Central Bank.
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