CEN-SAD - Macroeconomic Policy Convergence

The overall objective of CEN-SAD is to establish an Economic Union with financial and macroeconomic convergence as articulated in article 1 of the Treaty Establishing CEN-SAD. Yet, weak efforts to fulfil the proposed objective have been made in the CEN-SAD configuration insofar as promoting interregional economic community harmonization of macroeconomic and financial policies, and institutional cooperation of such matters. Several member States, however, are advancing in the stated areas of integration because of parallel initiatives outside the regional economic community scheme. The relatively good performance of CEN-SAD on financial and macroeconomic integration is linked to the presence of the West African Economic and Monetary Union and the Central African Economic and Monetary Community member States that share a common currency in the franc zone.[1]