WAMA working documents

Regional Integration in West Africa: The Need to Consolidate Gains

REMARKS BY DIRECTOR GENERAL MOMODOU BAMBA SAHO ON THE OCCASION OF THE 2016 EDUCATION CONFERENCE OF THE WEST AFRICAN INSURANCE COMPANIES ASSOCIATION HELD IN FREETOWN, SIERRA LEONE ON 31 OCTOBER 2016 (As written) PREAMBLE Thank you, President Chief Rotimi Fashiola for your invitation to participate in WAICA’s 2016 Education Conference. And my appreciation also goes […]

FINANCIAL SYSTEM INTEGRATION IN ECOWAS: OPPORTUNITIES, CHALLENGES AND PROSPECTS

Global financial integration has substantially increased in recent decades. This was manifested initially in growing capital flows between developed countries and has subsequently spread to emerging market and developing countries. It involves the removal of capital controls, financial innovation and technological progress. Financial system integration is achieved when there is a perfect mobility of financial […]

REFLECTIONS ON THE ESTABLISHMENT OF A STABILISATION FUND IN ECOWAS

Macroeconomic stability is one of the major concerns of political and economic decision- makers and means observing major macroeconomic indicators. In fact, since the recent crisis which began in 2008 in the United States, developed and developing countries have been finding it difficult to restore macroeconomic stability. In the OECD zone, the budget deficit reached […]

TAX EFFORT IN ECOWAS COUNTRIES 2011

Tax revenue mobilization is essential in the fiscal operations of every economy. The Economic Community of West African States (ECOWAS) therefore has a criterion on tax revenue under the convergence criteria of the ECOWAS Monetary Cooperation Programme (EMCP), which states that tax ratio (as a percentage of GDP) should be at least 20 percent. Despite […]

FINANCIAL STABILITY AND BANKING SUPERVISION WITHIN ECOWAS

Financial instability has become a source of major concern globally. The main reasons for this concern are the proliferation of financial crises from the late ’80s to date, especially the successive crises in Asia, Latin America and the world today, and the financial and socio-economic costs they generate. The increasing interconnection of various components of […]

MONEY SUPPLY GROWTH AND MACROECONOMIC CONVERGENCE IN ECOWAS

Macroeconomic convergence is a core issue under the ECOWAS monetary Cooperation programme. In addition to facilitating policy coordination, it affords the opportunity of ensuring macroeconomic stability, thereby, guaranteeing the purchasing power of the common currency being envisaged. Thus, in pursuance of the need for convergence of the economies within the sub-region, certain indicators have been […]

REVIEW OF ECOWAS EXCHANGE RATE MECHANISM

The ECOWAS Monetary Co-operation Programme (EMCP) aims to establish a monetary union which is defined as a group of two or more countries sharing a common currency managed by an autonomous monetary authority (in the strict sense) or a mechanism whereby all domestic currencies are convertible one to the other. The desire to establish a […]