MIL-OSI Economics: West African Economic and Monetary Union : Staff Report on Common Policies for Member Countries-Press Release; Staff Report; and Statement by the Executive Director for the West African Economic and Monetary Union

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Source: International Monetary Fund

West African Economic and Monetary Union : Staff Report on Common Policies for Member Countries-Press Release; Staff Report; and Statement by the Executive Director for the West African Economic and Monetary Union

Author/Editor:

International Monetary Fund. African Dept.

Publication Date:

March 2, 2021

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Summary:

After almost a decade of strong growth, the WAEMU region is facing severe challenges from a triple crisis impacting the health, economic and security situations. Both fiscal and monetary policies were relaxed significantly in 2020 to contain the pandemic and support the economy. A gradual fiscal consolidation is expected to start in 2021 and bring back the aggregate fiscal deficit towards the 3 percent of GDP regional ceiling within three years. Growth is expected to recover swiftly in 2021–22 to pre-crisis levels, but the economic outlook is still uncertain.

Series:

Country Report No. 2021/049

Frequency:

regular

English

Publication Date:

March 2, 2021

ISBN/ISSN:

9781513570983/1934-7685

Stock No:

1WAUEA2021001

Format:

Paper

Pages:

69

MIL OSI Economics