The West African Economic Review provides a forum for the participation of all stakeholders relevant to the monetary integration process of the ECOWAS Region, in respect of providing evidence-based policy recommendations. The Review is a bilingual publication (French and English) which comes out twice a year (June and December) from the West African Monetary Agency […]
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 […]
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 […]
The stabilization of ECOWAS currencies exchange rates features prominently in the road map set out for the establishment of the sub-regional single currency. This is considered as a continuous process to be finalized two years prior to the launch of the single currency. Hence, the need for keen monitoring of trends in the exchange rates […]
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 […]
At the end of its Summit held on 15th June 2007, the ECOWAS Authority of Heads of State and Government had instructed the ECOWAS Commission to review the current approach geared towards the achievement of monetary integration in the region, and examine the possibility of adopting a new approach for the establishment of the single […]
After a stagnation in 2009, the world economy recorded a significant recovery in 2010. World growth stood at 5.0% in 2010 as against -6.0% in 2009.This recovery was observed both in advanced and developing countries. In advanced countries, real GDP growth rate rose from -3.4% in 2009 to 3.0% in 2010. Emerging and developing countries witnessed accelerated growth […]
In this March 2010 edition of the West African Monetary Agency’s (WAMA) News Bulletin, you will find articles dealing with various topics and providing information on various issues. Thus, it contains a report of the annual meetings of the governing bodies of the West African Monetary Agency (WAMA), which discussed issues relating to the monitoring […]
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 inAsia, Latin America and the world today, and the financial and socio-economic costs they generate. The increasing interconnection of various components of the financial […]
With the challenges of the global financial crisis, countries are grappling with the choice of a suitable monetary policy framework to enable them deal with various shocks. The piece on “Exchange Regimes and Inflation Targeting” by Prof. Mohamed Ben Omar Ndiaye sheds considerable light on the process. This edition also carries a report on the maiden WAMA Staff Retreat […]
