Appraising The Monetary Union Of The West African Sub Region And Its Ensuing Implications
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Author | : Joshua Chinedu UGWU |
Publisher | : |
Total Pages | : 19 |
Release | : 2020 |
Genre | : |
ISBN | : |
There is an ongoing discourse with respect to whether or not the West African Sub Region needs a monetary Union as part of its drive towards a more robust economy and the integration of its people. This discourse is without borders, as it has seen experts from all over the world share their thoughts with respect to this issue. Why is west Africa an important region in global politics and why has immense international attention with respect to her fiscal decisions raised eyebrows? The idea of a Monetary Union as canvassed by the Economic Community Of West African States (ECOWAS) through her various institutions and the proposed Launch of the 'Eco', which was recently adopted as the name for the proposed currency, at the 55th Ordinary Session of the Heads of State and Government of ECOWAS, is one of the reasons for this international attention. ECOWAS will not be the first to float a Monetary Union, as there are other regions of the world with various forms of monetary union. Analysts have argued that west Africa does not need a Single Currency, stating that there are other ways by which the region can meet its intended goal without having to float a uniformed currency regime. Others have argued that it is imperative that a monetary union be launched as soon as possible if the sub-region is to indeed achieve maximum integration of its people and shake off completely, the shackles of Colonialism.The purpose of this article is to examine whether,given the current political and economic realities, the west African sub-region needs a monetary union, while pointing out the importance of a monetary union for the region, with recommendations for policy framers. All these are imperative if indeed the benefits accompanying a monetary union vis-à-vis a single currency,are to be effectively harnessed by west Africa.
Author | : International Monetary Fund |
Publisher | : |
Total Pages | : 46 |
Release | : 2000 |
Genre | : Africa, West |
ISBN | : |
Monetary union, currency unions, fixed exchange rate, monetary stability.
Author | : |
Publisher | : UN |
Total Pages | : 166 |
Release | : 2012 |
Genre | : Business & Economics |
ISBN | : |
The fifth of the series (ARIA/V) has come at a time of renewed enthusiasm for shortening the period of the vision of the Abuja Treaty. Its overall objective is to provide an analytical research publication that defines frameworks for African Governments, the African Union and the Regional Economic Communities, towards accelerating the establishment of the African Common Market through: the speedy removal of all tariff and non-tariff barriers, obstacles to free movement of people, investments and factors of production in general across Africa, and through fast-tracking the creation of an African continental Free Trade Area
Author | : Elias T. Ayuk |
Publisher | : Springer |
Total Pages | : 297 |
Release | : 2013-10-22 |
Genre | : Business & Economics |
ISBN | : 9781461448891 |
Could regional integration be a first step toward joining the global market? In a context where liberalizing trade has not produced the expected gains in developing countries and growth in global trade has not led to the expected economic growth, an alternative solution has emerged. This new paradigm suggests that trade liberalization should be accompanied by public investment. However, by its very nature, trade liberalization leads to a reduction in revenues from duties and taxes, which means that the available resources for public investments will also be reduced. There are now solid arguments for encouraging the less-developed countries to first emphasize regional integration before trying to access the global market. This book explores the issues linked to regional integration in West Africa and presents empirical data about the experiences in = West African Economic and Monetary Union (WAEMU) countries to converge their economies. It also examines how these efforts, which make a major contribution to regional integration, influence poverty reduction in the economic and monetary community. It will be of interest to researchers working in this area. Elias T. Ayuk is Director of the United Nations University Institute for Natural Resources in Africa in Accra, Ghana, and was formerly a senior program specialist at the International Development Research Centre. Samuel T. Kaboré is a researcher/lecturer at the Faculty of Economics and Management at the University of Ouagadougou II, Burkina Faso. Canada’s International Development Research Centre (IDRC) supports research in developing countries to promote growth and development. IDRC also encourages sharing this knowledge with policymakers, other researchers, and communities around the world. The result is innovative, lasting local solutions that aim to bring choice and change to those who need it most. Elias T. Ayuk is Director of the United Nations University Institute for Natural Resources in Africa in Accra, Ghana, and was formerly a senior program specialist at the International Development Research Centre. Samuel T. Kaboré is a researcher/lecturer at the Faculty of Economics and Management at the University of Ouagadougou II, Burkina Faso. Canada’s International Development Research Centre (IDRC) supports research in developing countries to promote growth and development. IDRC also encourages sharing this knowledge with policymakers, other researchers, and communities around the world. The result is innovative, lasting local solutions that aim to bring choice and change to those who need it most.
Author | : P. Thandika Mkandawire |
Publisher | : IDRC |
Total Pages | : 192 |
Release | : 2014-05-14 |
Genre | : Political Science |
ISBN | : 155250204X |
Our Continent, Our Future presents the emerging African perspective on this complex issue. The authors use as background their own extensive experience and a collection of 30 individual studies, 25 of which were from African economists, to summarize this African perspective and articulate a path for the future. They underscore the need to be sensitive to each country's unique history and current condition. They argue for a broader policy agenda and for a much more active role for the state within what is largely a market economy. Finally, they stress that Africa must, and can, compete in an increasingly globalized world and, perhaps most importantly, that Africans must assume the leading role in defining the continent's development agenda.
Author | : World Bank |
Publisher | : |
Total Pages | : 324 |
Release | : 1989 |
Genre | : Business & Economics |
ISBN | : |
Author | : International Monetary Fund. African Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 72 |
Release | : 2024-04-17 |
Genre | : Business & Economics |
ISBN | : |
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.
Author | : Vivien Foster |
Publisher | : World Bank Publications |
Total Pages | : 388 |
Release | : 2010 |
Genre | : Business & Economics |
ISBN | : |
This booklet contains the Overview as well as a list of contents from the forthcoming book Africa's Infrastructure: A time for Transformation.
Author | : Réal P. Lavergne |
Publisher | : IDRC (International Development Research Centre) |
Total Pages | : 350 |
Release | : 1997 |
Genre | : Political Science |
ISBN | : 9780865435674 |
This volume examines the failure of regional integration and cooperation to date in West Africa and explores some of the more holistic and economically liberal options for revitalization. Annotation c. by Book News, Inc., Portland, Or.
Author | : Mr.Trevor Serge Coleridge Alleyne |
Publisher | : International Monetary Fund |
Total Pages | : 125 |
Release | : 2013-08-12 |
Genre | : Business & Economics |
ISBN | : 1484366549 |
The reform of energy subsidies is an important but challenging issue for sub-Saharan African (SSA) countries. There is a relatively large theoretical and empirical literature on this issue. While this paper relies on that literature, too, it tailors its discussion to SSA countries to respond to the following questions: Why it is important to reduce energy subsidies? What are the difficulties involved in energy subsidy reform? How best can a subsidy reform be implemented? This paper uses various sources of information on SSA countries: quantitative assessments, surveys, and individual (but standardized) case studies.