Redefining the Monetary Landscape in the Sahel region in the Context of Morocco’s Atlantic Initiative

Ayoub Rabhi

MPRA Paper from University Library of Munich, Germany

Abstract: This paper explores the prospects of establishing a Sahel Monetary Union (SMU) within the broader framework of African regional economic integration. The paper emphasizes Morocco’s Atlantic Initiative as a strategic alternative for Sahel countries, offering a pathway to deeper economic integration, strengthened monetary cooperation, and the promotion of regional development. By examining the politico-economic obstacles faced by Economic Community of West African States (ECOWAS) in implementing the Eco, the analysis highlights how Morocco’s partnership with the Sahel region could help overcome these barriers. Lessons from the structural flaws of the European Monetary Union are considered to propose a tailored Sahel Monetary Union framework. The paper advocates for a union that coordinates monetary and fiscal policies, establishes robust fiscal transfer mechanisms, and adopts a central banking system that balances inflation control with broader macroeconomic and development objectives.

Keywords: Sahel Monetary Union; Morocco; Atlantic Initiative; Monetary Union; Monetary Policy; Africa (search for similar items in EconPapers)
JEL-codes: E6 F5 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:123863

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