Monetary unions, exchange rate regimes, and the impact of inflation on development

For several years, FERDI has been analysing the impact of exchange rate policies on the competitiveness of African economies, in partnership with CEMAC and WAEMU.


Achievements 2022

  • In an article published in 2022 in the Revue d'économie du développement, authors Sosso Feindouno, Samuel Guérineau, Patrick Guillaumont, Sylviane Guillaumont Jeanneney and Patrick Plane show that economic growth is more inclusive in the WAEMU and CEMAC monetary unions. 
  • FERDI tracks and analyses how the global rise in commodity prices affects consumers in African countries, and the ability of countries in a monetary union to slow this inflation. In the Covid period, it shows that African countries with fixed exchange rates are more resilient, not only in terms of inflation, but also in terms of economic growth.
  • Rabah Arezki, former World Bank Chief Economist for the Middle East and North Africa region and a Fellow of FERDI, has published numerous articles highlighting the consequences and risks of inflation for countries on the African continent, including the risks of food insecurity and social unrest. 
  • As part of a joint project, FERDI and the International University of Côte d'Ivoire (UICI) organised the "How to deal with sharp price increases?" conference in Abidjan on June 17, 2022. This discussion between researchers and decision-makers emphasised the need for better coordination of food trade in the region.
  • FERDI's policy brief on the Russia-Ukraine conflict and its repercussions for African economies delves into the matters of supply and dependence of African economies on the Russian and Ukrainian markets, soaring prices, and the macroeconomic consequences of this crisis. FERDI's work on this subject will continue in 2023.

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