Search Results

You are looking at 1 - 3 of 3 items for :

  • "stance of WAEMU country" x
Clear All
Mr. Johannes Mueller, Irene Yackovlev, and Hans Weisfeld
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.
Mr. Johannes Mueller, Irene Yackovlev, and Hans Weisfeld

rate (refinance rate minus inflation) and (the log of the) real effective exchange rate. 13. The suggested countercyclical policies for 2009–10 would allow for a macroeconomic policy mix that would be less restrictive than during the last few years . Fiscal deficits rose early in the decade as aid and debt relief created fiscal space, but the fiscal policy stance of WAEMU countries has generally remained prudent. The fiscal space has been used mostly to promote investment and for social spending. However, the fiscal positions of several countries widened