The Global Financial Crisis: Impact on WAEMU Member Countries and Policy Options

By Johannes Mueller, Irene Yackovlev, Hans Weisfeld

March 18, 2009

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Johannes Mueller, Irene Yackovlev, and Hans Weisfeld. The Global Financial Crisis: Impact on WAEMU Member Countries and Policy Options, (USA: International Monetary Fund, 2009) accessed November 23, 2024

Summary

Most WAEMU countries are likely to see economic growth deteriorate over the next two years as a result of the global economic crisis, and some WAEMU countries will be more severely affected by the crisis than others. This could have a detrimental effect on efforts to reduce poverty. Deteriorating remittances and commodity export prices are projected to negatively affect the WAEMU countries’ external current account deficit and reserves, although the impact should be cushioned by positive terms-of-trade shocks, such as declining import prices for food and fuel products. These developments should also help lower inflation pressures, bringing WAEMU inflation closer to its historical level of about 2 percent by 2010.

Subject: Asset and liability management, Balance of payments, Banking, Current account deficits, Fiscal policy, Fiscal stimulus, Government debt management, Liquidity, Public financial management (PFM)

Keywords: Bank balance balance sheet, Bank financing, Bank liquidity, Bank restructuring strategy, CFA franc, Commodity export price, Current account deficits, Exchange rate development, Financial market, Financing, Fiscal stimulus, Food price inflation, Global, Government debt management, Growth potential, Liquidity, Price, SPN, Stance of WAEMU country, Trade financing development, WAEMU, WAEMU bank, WAEMU country, WAEMU member, WAEMU region, WAEMU reserve

Publication Details

Pages:

16
Volume:

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DOI:

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Issue:

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Series:

Staff Position Note No. 2009/016
Stock No:

SPNEA2009016
ISBN:

9781455229017
ISSN:

2617-6742

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