West African Economic and Monetary Union (WAEMU): Common Policies for Member Countries - Press Release; Staff Report; and Statement by the Executive Director for the WAEMU

Author: International Monetary Fund. African Dept.

Common Policies for Member Countries - Press Release; Staff Report; and Statement by the Executive Director for the WAEMU

Volume/Issue: Volume 2018 Issue 106

Publication date: April 2018

ISBN: 9781484352809

$18.00

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Topics covered in this book

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Banks and Banking , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , Eurobond , staff appraisal , yield , WAEMU's Monetary Policy committee , monetary policy stance , BCEAO authorities , WAEMU sovereign , interbank market rate , monetary policy transmission , WAEMU convergence criterion , Eurobond issuance , WAEMU member , Government debt management , Fiscal consolidation , Public investment and public-private partnerships (PPP) , Sub-Saharan Africa , West Africa , Global

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Summary

This report reviews the discussions between the IMF and the regional institutions of the West African Economic and Monetary Union (WAEMU). It highlights that the economic activity in the WAEMU remains strong but vulnerabilities persist. Despite lower terms of trade, social tensions, and security challenges within the region, real GDP growth is estimated to have exceeded 6 percent in 2017, underpinned by strong domestic demand. The outlook remains positive but hinges critically on the planned fiscal consolidation and implementation of structural reforms by member countries. Growth is projected to stay above 6 percent with continued low inflation over the medium term. Risks are tilted to the downside.