The role of the euro in Sub-Saharan Africa and in the CFA franc zone

Martin Hallet

No 347, European Economy - Economic Papers 2008 - 2015 from Directorate General Economic and Financial Affairs (DG ECFIN), European Commission

Abstract: The paper analyses different aspects of the role that the euro is currently playing in sub-Saharan Africa (SSA) and in the CFA franc zone of West and Central Africa. As similar contributions on the role of the euro in other global regions, it served as background information for the analysis of the European Commission on the international role of the euro for the assessment of 10 years of European Economic and Monetary Union ("EMU@10"). The paper examines the role of the euro as an international currency in Sub-Saharan Africa, assesses the effects that the CFA franc's peg to the euro had on macroeconomic stability, trade integration and international competitiveness of the CFA franc zone, and finally looks at how the EU's multilateral surveillance framework served as a blueprint for multilateral surveillance in the CFA franc zone.

Keywords: Africa; Sub-Saharan Africa; CFA franc zone; West Africa; Central Africa; Euro; Africa; CFA franc; monetary union; macroeconomic surveillance; Stability Pact; Hallet (search for similar items in EconPapers)
Pages: 29 pages
Date: 2008-11
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:euf:ecopap:0347

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