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Topic: West African Economic and Monetary Union

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	West African Economic And Monetary Union Definition \| Define West African Economic And Monetary Union \| What Is It?
		West African Economic And Monetary Union Definition
		Define West African Economic And Monetary Union
		A regional alliance of Francophone West African countries, dedicated to promoting economic integration among the seven member countries.
	www.business-glossary.net /definition/3671-West_African_Economic_And_Monetary_Union (140 words)

	NationMaster - Encyclopedia: Single market
		In economics, a monetary union is a situation where several countries have agreed to share a single currency among them, for example, the East Caribbean dollar.
		Economic integration is a term used to describe how different aspects between economies are integrated.
		The Economic Community of West African States (ECOWAS) is a regional group of fifteen countries, founded on May 28, 1975 when fifteen West African countries signed the Treaty of Lagos.
	www.nationmaster.com /encyclopedia/Single-market (1364 words)

	Chapter 11. Lessons from UMOA1: Centro Internacional de Investigaciones para el Desarrollo
		The Union is headed by the Conference of the Heads of State, and the BCEAO is headed by a Council of Ministers, comprising the finance minister of each member country.
		Monetary announcements are deemed to be credible if they are made by an authoritative source, i.e., an independent, apolitical, technocratic central bank, preferably with a history or statutory commitment to a single, achievable goal, such as low and stable inflation.
		The Union will not be able to prevent macroeconomic imbalance if it is not allowed to function in the proper spirit and it could constitute an impediment to economic adjustment if it is excessively inflexible, too long, as UMOA seems to have been regarding the parity of the exchange rate.
	www.idrc.ca /es/ev-68400-201-1-DO_TOPIC.html (7548 words)

	NationMaster - Encyclopedia: Benin
		It borders Togo to the west, Nigeria to the east and Burkina Faso and Niger to the north; its short coastline to the south leads to the Bight of Benin.
		Western Africa (UN subregion) Maghreb West Africa or Western Africa is the westernmost region of the African continent.
		Benin is a member of the West African Economic and Monetary Union (WAEMU), which imposes a common external tariff with four rates: 0 percent, 5 percent, 10 percent, and 20 percent.
	www.nationmaster.com /encyclopedia/Benin (1190 words)

	West African Economic
		African art and architecture reflect the diversity of African cultures...
		The Economic Community Of West African States (ECOWAS) is a regional...
		of a West African parliament, an economic and social council and an...
	www.plexxa.com /s/West_African_economic (188 words)

	Economic Community of West African States Information
		The Economic Community of West African States (ECOWAS) is a regional group initially of sixteen countries, founded on May 28, 1975 when sixteen West African countries signed the Treaty of Lagos.
		ECOWAS is one of the pillars of the African Economic Community.
		The West African CFA franc (XOF), created on December 26, 1945, is currently used in six formerly French-ruled African countries, as well as in Guinea-Bissau (former Portuguese colony).
	www.bookrags.com /Economic_Community_of_West_African_States (613 words)

	Omnipelagos.com ~ article "West African Economic and Monetary Union" (Site not responding. Last check: )
		The West African Economic and Monetary Union (or UEMOA from its name in French, Union économique et monétaire ouest-africaine) is an organization of states of West Africa established to promote economic integration among countries that share a common currency, the CFA franc.
		UEMOA was created by a Treaty signed at Dakar, Senegal, on January 10 1994 by the Heads of State and Government of Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal, and Togo.
		UEMOA is a customs union and monetary union between some of the members of Economic Community of West African States (ECOWAS).
	www.omnipelagos.com /entry?n=west_%41frican_%45conomic_and_%4Donetary_%55nion (148 words)

	2001 Report for the Franc area
		Economic activity in the Comoros grew by 1.9% in 2001, after declining by 1.1% in 2000.
		Thanks to their experience of regional economic and monetary integration and economic policy convergence, franc area countries appear to be particularly well prepared to be fully involved in the implementation of NEPAD.
		This also means that economic agents have understood that sound economic and fiscal policies, efforts towards greater economic convergence and France’s support for euro area financial mechanisms all contribute to reinforcing monetary stability.
	www.banque-france.fr /gb/eurosys/zonefr/zfr2001.htm (2616 words)

	The Dispatch - Serving the Lexington, NC - News
		The Economic and Monetary Community of Central Africa (or CEMAC from its name in French, CommunautÃ© Ãconomique et MonÃ©taire de l'Afrique Centrale) is an organization of states of Central Africa established to promote economic integration among countries that share a common currency, the CFA franc.
		CEMAC is the successor of the Customs and Economic Union of Central Africa (UDEAC), which it completely superseded in June 1999 (through an agreement from 1994).
		CEMAC is not one of the pillars of the African Economic Community, but its members are associated with it through Economic Community of Central African States (ECCAS).
	www.the-dispatch.com /apps/pbcs.dll/section?category=NEWS&template=wiki&text=Economic_and_Monetary_Community_of_Central_Africa (187 words)

	Embassy of France in the US - France/Africa
		It was a demonstration of the new awareness among African heads of State that the development of their continent was first and foremost down to them and to the proper management of their countries, and not just a matter of external support.
		The fact that, like the OECD countries, African countries now accept the evaluation of their respective policies is highly symbolic of this new attitude.
		The African Union is in the lead, but the sub-regional organizations, like the Economic Community of West African States (ECOWAS) and the Economic and Monetary Community of Central Africa (EMCCA), are today playing an equally essential role.
	www.info-france-usa.org /news/statmnts/2005/girardin_africa060605.asp (2084 words)

	Seigniorage - Central Bank
		Economic and Monetary Community of Central Africa - Bank of Central African States Banque des Ãtats de l'Afrique Centrale
		Macau SAR - Monetary Authority of Macao æ¾³é—é‘èç®¡çå± / Autoridade MonetÃ¡ria de Macau
		West African Economic and Monetary Union - Central Bank of West African States Banque Centrale des Ãtats de l'Afrique de l'Ouest
	www.seigniorage.de (1753 words)

	General News of Thursday, 5 October 2006
		Speaking to commemorate activities marking the celebration of the Ghana-German Economic Association week in Accra on the theme: "The Future of Inner West African Trade and Regional Integration," he explained that it was important to begin the process of integration from building effective bilateral relations as a prelude to more sophisticated forms of integration.
		Touching on some of the challenges, Mr Oteng-Gyasi mentioned the lack of unification of standards and practices of trade among member nations, poor road and rail infrastructure and the continuous heavy reliance on the import tariffs as major sources of government revenue as some of reason militating against the integration efforts.
		She said a lot of schemes and programmes had been adopted for the creation of a unified market, which included policies and means to achieve trade liberalization, monetary cooperation, free movement of persons, development of regional transport and communication networks and the promotion of regional economic stability through the harmonization of macro-economic policies.
	www.ghanaweb.com /GhanaHomePage/NewsArchive/artikel.php?ID=111704 (613 words)

	Senegal (01/07)
		Economic aid received (2005): $757 million from all sources, $51 million from the U.S. Senegal is bounded by the Atlantic Ocean, Mauritania, Mali, Guinea, and Guinea-Bissau.
		Most recently, Senegal provided peacekeeping forces for the African Union (AU) mission in Darfur, Sudan (AMIS), the UN mission in Liberia (UNIMIL), and the UN mission in Cote d’Ivoire (UNOMCI), with General P.K. Fall, who is now Chief of Defense of the Senegalese Armed Forces, acting as overall Force Commander.
		A Senegalese contingent was deployed on a peacekeeping mission to the Central African Republic in 1997, and in 1994, Senegal sent a battalion-sized force to Rwanda to participate in the UN peacekeeping mission there.
	www.state.gov /r/pa/ei/bgn/2862.htm (3328 words)

	GRAIN \| Seedling \| 2006 \| Foundations for GM crops in We
		The irony with cotton is that growers in West Africa are having a hard time selling their product at a reasonable price, due mainly to the huge subsidies received by US cotton farmers that are forcing the global price of cotton down.
		As stated in the project proposal: ‘If WAEMU is able to harmonise national biosafety legislations and later to enforce a decision taken in one country in the other countries, it will drastically improve the investment climate in biotechnology for cash and food crops in the WAEMU area...
		COPAGEN (Coalition for the Protection of African Genetic Heritage) is one example of a broad coalition of national and regional organisations which is helping to resist the imposition of these biosafety laws and the introduction of GM crops and food.
	www.grain.org /seedling/?id=444 (1979 words)

	West African Economic and Monetary Union (WAEMU) / Union Economique et Monetaire de l’ouest Africaine (UEMOA)
		Formerly known as the West African Monetary Union (WAMU/UMOA), the West African Economic and Monetary Union (UEMOA) was founded on 10 January 1994 in response to the devaluation of the common currency, the CFA Franc, on 11 January 1994.
		This new regional economic organisation was to a large extent the brainchild of Mr Charles Konan Banny, Governor of the Central Bank of West African States (BCEAO), whose experts have played a major role in establishing the guiding principles and institutional framework of UEMOA.
		Because of its important role in especially the initial phases of the establishment of the new Union, this Bank, as well as the West African Development Bank (BOAD) are and will remain inextricably linked to it.
	www.dfa.gov.za /foreign/Multilateral/africa/waemu.htm (317 words)

	Discussion Papers 2003: Department of Economics, University of Leicester, UK
		By contrast, the relatively low (but still economically significant) returns to education at the higher end of the conditional earnings distribution suggest the importance of inherent ability or personal connections in securing high paying jobs.
		Abstract: In this paper we use data from 17 African nations in order to investigate the hypothesis that monetary union – represented in this case by the CFA Franc Zone – augments the extent of macroeconomic integration in developing countries.
		The purpose of the analysis is to distinguish the effect of monetary union on macroeconomic integration from the effect of pegging to a common OECD currency.
	www.le.ac.uk /ec/research/discussion/papers2003.html (2283 words)

	Africa Puts Forward its Eco
		The most advanced is without any doubt that of the “second” west African monetary union, which binds together five non members countries of the West African Economic and Monetary Union (WAEMU), though the second union is ultimately set to merge with the WAEMU.
		In 2002, the project for the second union led to the creation of a West African Monetary Zone (WAMZ), and the monetary unification of these five countries is scheduled for 1st July 2005.
		This suggests that the WAEMU is a relatively homogenous group, which is not the case for the countries of the WAMZ, whose members thus do not have much interest in rapid monetary unification.
	www.cepii.fr /anglaisgraph/publications/lettre/summary/2005/let243ang.htm (205 words)

	Project Syndicate
		France's unchallenged political, economic, and military domination of its former sub-Saharan African colonies is rooted in a currency, the CFA franc.
		When the OAU mandated the Economic Community of West African States (ECOWAS) to promote regional economic and monetary union, France and its allies moved quickly to impede it by spearheading the creation of the West African Economic and Monetary Union (UEMOA) and the Central African Economic and Monetary Union (CEMAC).
		But for France's African allies, grafting a program of economic integration onto a pre-existing artificial monetary union is delusory and unworkable.
	www.project-syndicate.org /commentary/mbaye2 (952 words)

	African Economic Outlook 2005/2006 - Country Studies: Mali (Site not responding. Last check: )
		This figure, close to the average 5 per cent experienced over the 1994-2004 period, is marked by a catch-up effect in relation to 2004, which was an atypical, difficult year.
		The vulnerable and erratic nature of Malian economic growth is due to exogenous factors such as rainfall, fluctuating international market prices for its principal export products (cotton and gold), rising hydrocarbon prices and regional instability caused by the Ivorian crisis.
		At the same time, an improvement in its economic performance is expected in 2006-07, following a good cotton season and a rise in gold production and cereals exports.
	www.oecd.org /LongAbstract/0,2546,en_33873108_33844430_36741458_1_1_1_37425,00.html (454 words)

	Mali (02/07)
		Mali is the cultural heir to the succession of ancient African empires--Ghana, Malinké, and Songhai--that occupied the West African savannah.
		However, by 1990, there was growing dissatisfaction with the demands for austerity imposed by the IMF's economic reform programs and the perception that the President and his close associates were not themselves adhering to those demands.
		Under the economic reform program signed with the World Bank and the IMF in 1988, the government has taken a number of steps to liberalize the regulatory environment and thereby attract private investment.
	www.state.gov /r/pa/ei/bgn/2828.htm (5033 words)

	An MBendi Profile: An MBendi Country Profile for Guinea including economic and travel overviews and directories of ...
		Guinea is an independent republic which lies on the on the bulge of Africa and forms part of the West African Region.
		Despite excellent economic progress made in the latter nineties, the fall in demand and drop in prices of bauxite and aluminum and the tenuous security situation in neighboring countries dragged down economic performance.
		De facto pegging of the Guinean franc to the US dollar over the past several months has resulted in a significant loss in official reserves and worsened macroeconomic imbalances, and underscored the need for the exchange rate to be determined by market forces.
	www.mbendi.co.za /cygucy.htm (1025 words)

	Country Profiles Foreign & Commonwealth Office
		Numerous African languages are spoken of which Bambara is most common.
		Mali was the chair of the sub-regional body ECOWAS in 2000 and 2001, and is a member of the West African Franc Zone organisation UEMOA.
		Former President Konare was appointed in 2003 to the four-year Chair of the African Union Commission.
	www.fco.gov.uk /servlet/Front?pagename=OpenMarket/Xcelerate/ShowPage&c=Page&cid=1007029394365&a=KCountryProfile&aid=1019744971835 (1528 words)

	Untitled Document (Site not responding. Last check: )
		Ouagadougou, Burkina Faso (PANA) - Poverty is on the increase in some member countries of the West African Economic and Monetary Union (UEMOA), according to an official of the bloc, Frederic Assumption Corsage, who is in charge of policy matters.
		Ouagadougou, Burkina Faso (PANA) - The Commission of the West African Economic and Monetary Union (UEMOA) has slated three sub- regional meetings here starting 5 February, with focus on a study on higher education, guidelines for the Regional Economic Programme (REP) and consumption trends within the bloc, a communiqué indicated Tuesday.
		Abidjan, Cote d'Ivoire (PANA) - Newly elected Chair of the eight-nation West African Economic and Monetary Union (UEMOA) Commission, Mali's Soumaila Cisse, was met in Abidjan Monday by Ivorian Senior Minister in charge of Economy and Finance, Bohoun Bouabre.
	www.panapress.com /paysindexlat.asp?codepays=eng058&page=4 (426 words)

	ViewsWire
		If all goes to plan, 14 West African states could be members of a common currency union within four years.
		Varying degrees of economic and political instability continue to plague West Africa, and Sierra Leone in particular, while some economists point out that a monetary union involving these particular countries is unlikely to be sustainable because Nigeria, as a major oil exporter, faces very different monetary pressures from those of the oil-importing Ecowas states.
		Ghana has set up a ministry of planning, regional economic cooperation and integration to follow up on the implementation of Ecowas commitments, while nine other West African countries, including Nigeria, have reportedly set up counterpart ministries to oversee progress towards regional integration.
	www.eiu.com /index.asp?layout=VWArticleVW3&article_id=1644779564 (607 words)

	ADF 2001 - Goals
		The Constitutive Act of the African Union and the Pan-African Parliament, and the Draft Protocol to the Treaty Establishing the African Economic Community Relating to the Pan-African Parliament, articulate these commitments.
		The coming into force of the Constitutive Act of the African Union provides a timely opportunity to focus on what needs to happen institutionally and at policy level to galvanize regional integration.
		Reflect on Africa’s historic initiatives for political and economic unity and examine regional integration experiences from other regions: The Forum will bring together experts on regional integration from Africa as well as from across the world that can critically assess the experiences of the various regions with a view to drawing lessons for Africa.
	www.uneca.org /adf2001/goals.htm (328 words)

	Electronic Documents - Library - IGLOO (Site not responding. Last check: )
		This paper proposes the implementation of a fiscal insurance scheme for the two currency unions of the CFA-franc zone, the West African Economic and Monetary Union (WAEMU) and the Central African Economic and Monetary Community (CEMAC).
		A fiscal insurance mechanism would help to cushion for transitory shocks and at the same time reinforce the monetary unionâs long-term viability.
		The paper proposes a basic framework for a fiscal insurance contract of 70 percent of coverage level for shortfalls in cyclical revenues owing to terms-of-trade shocks as a benchmark and then, analyzes different coverage levels and re-payment options in response to incentive problems â“i.e.
	www.ciia.org /library/edocuments?id={39B01407-F1B4-4704-82FF-A273A509233B} (267 words)

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