Ten Years After the CFA Franc Devaluation: Progress Toward Regional Integration in the WAEMU
AbstractThis paper takes stock of the achievements toward integration in the West African Economic and Monetary Union (WAEMU) 10 years after the 1994 devaluation of the CFA franc. It investigates the lessons learned and evaluates progress toward economic convergence, examines the evolution of trade and competitiveness, and points to ways to remove impediments to greater integration. The paper concludes that a continued political commitment will be needed to overcome the important dissimilarities between WAEMU member countries that have limited the degree of convergence achieved to date, and to advance toward a full-fledged economic union.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 05/145.
Date of creation: 01 Jul 2005
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-10-22 (All new papers)
- NEP-HIS-2005-10-22 (Business, Economic & Financial History)
- NEP-INT-2005-10-22 (International Trade)
- NEP-MON-2005-10-22 (Monetary Economics)
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