Africa’s Misplaced Monetary Ambitions
Sub-Saharan African is in the grip of currency-union mania, with regional groups of countries in eastern, southern, and western Africa all giving priority to the idea of creating a common monetary area. But, at this stage of their economic development, Africa’s countries should prioritize long-term economic integration, not currency union.
DAKAR – Sub-Saharan African is in the grip of currency-union mania. Regional groups of countries in eastern, southern, and western Africa are all giving priority to the idea of creating a monetary union. But haven’t we heard this all before in Africa?