Monetary and fiscal policy co-ordination needed in WAEMU, say Africa researchers

Studies examining West Africa's monetary union call for pro-cyclical spending in face of demand shocks


The interactions of monetary and fiscal policy in a monetary union – in particular, the West African Economic and Monetary Union (WAEMU) – have come under close scrutiny at the annual conference of the Centre for the Study of African Economies at the University of Oxford in the UK.

Thierry Kame Babilla, a researcher at the University of Yaoundé, Cameroon, told the monetary policy session this morning that the bank-lending channel is effective in the WAEMU – and that monetary policy "seems to

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