Towards a common currency for AES countries based on resources: theoretical approaches and practical aspects

Nikolay Nenovsky () and Gildas Bondi

MPRA Paper from University Library of Munich, Germany

Abstract: The aim of this article is to examine the theoretical foundations and practical aspects underlying the creation of a common currency based on natural resources within the Alliance of Sahel States (AES). On 6 July 2024 in Niamey, the leaders of Mali, Burkina Faso and Niger signed the constitutive act of the Confederation of Sahel States, confirming at the same time the departure of the three countries from the Economic Community of West African States (ECOWAS). The new Confederation of the Sahel States has decided, among other things, to set up an investment bank and a stabilisation fund. It is therefore plausible that the confederation will soon adopt a common currency. From a scientific point of view, it is interesting to see how this new currency would be guaranteed by the natural resources of the AES countries.

Keywords: Alliance of Sahel States (AES); common currency; natural resources-based currency; Africa (search for similar items in EconPapers)
JEL-codes: E5 F45 F5 (search for similar items in EconPapers)
Date: 2024-07-14
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