Macroeconomic Policy in the Franc Zone Studies in Development Economics and Policy

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The fourteen members of the African CFA Franc Zone represent the largest monetary unions in the southern hemisphere, predating the European Monetary Union by decades. With monetary unions planned for other parts of Africa in the near future, this book focuses on some of the key challenges facing the Franc Zone today. Such as:How does a single currency area meet the needs of such a wide range of countries facing very different economic conditions? How close is the Franc Zone to being an 'Optimum Currency Area'?How well do the institutions of the Franc Zone manage monetary policy in the area? Have they been able to adapt the best practice of OECD central banks to African conditions?How do the policies of the Franc Zone impact on the poorest and most disadavantaged communities in the region?