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 […]
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 […]
Welcome to yet another edition of the WAMA News Bulletin. The topics in this edition include Corporate Governance in Banks which focused on the roles of the Board of Directors. The quality of corporate governance is critical for banks to perform their intermediation functions effectively. The article explores some ways in which such improvement can […]
The stabilization of exchange rates of ECOWAS currencies features prominently in the road map designed for the establishment of a sub regional single currency. This is considered as a continuous process to be finalized two years before the launch of the single currency. Hence the need for a close monitoring of trends in exchange rates […]
Executive Summary ECOWAS countries faced significant challenges in the first half of 2009 and performance on the convergence criteria was mixed. Budget deficits deteriorated, reserves were much lower but there was some improvement in the inflation. Some of the outturn reflected developments in the international economy. On the international economic developments and their impact for […]
