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Monetary Integration in West Africa: History, Theory, Policy

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  • Youssef El Jai

Abstract

Prior to the colonial era, money issuance in West Africa depended on slave trade. With the advent of the colonial rule, silver coins were imported then progressively imposed as a tool of coercion. The post-colonial trajectory was different for former British and French colonies. While the former regained their monetary sovereignty, the latter continued under a monetary union under the auspices of France. The proposal of the Eco as a single currency for ECOWAS is therefore a whole new step for some countries and a simple exercise of adaptation for others. Hence, a bold policy agenda is needed if the currency union is to be a success.

Suggested Citation

  • Youssef El Jai, 2020. "Monetary Integration in West Africa: History, Theory, Policy," Policy notes & Policy briefs 1930, Policy Center for the New South.
    • Handle: RePEc:ocp:ppaper:pb20-61
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