AMU - Macroeconomic Policy Convergence

The overall objective of AMU is to establish a Maghreb Economic Union; however, the financial and macroeconomic convergence is not articulated in the Treaty nor the creation of a single currency. By contrast, the parallel initiative of the Greater Arab Free Trade Area binds member States to coordinate financial and monetary policies with the aim of achieving monetary unity[1].  

[1] Government of Dubai, Department of Economic Development. “Free Trade Agreements Briefing Note”. 2015. Available from