The role of the euro in Sub-Saharan Africa and in the CFA franc zone - Martin Hallet
Martin Hallet, European Commission
The role of the euro in Sub-Saharan Africa and in the CFA franc zone - Martin Hallet(740 kB)
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.
Summary for non-specialists (87 kB)
(European Economy. Economic Papers. 347. November 2008.
Luxembourg. 29pp. Tab. Graph. Ann. Bibliogr. Free.)
|ISBN 978-92-79-08272-6 (online)||
|ISSN 1735-3187 ||