ECCAS - Macroeconomic Policy Convergence

The Macroeconomic policy convergence is clearly addressed in the aims of ECCAS. Although CEMAC has merged into the ECCAS configuration, efforts to expand the monetary union to the rest of the ECCAS member States are insufficient. There is, for instance, no formal mechanism for macroeconomic policy convergence within ECCAS. On the other hand, CEMAC is steadily promoting the macroeconomic policy convergence in its CFA monetary zone. For example, it is developing a macroeconomic model for the region by a designated monitoring unit to promote the capacity building in member States.[1] Moreover, CEMAC employs a multilateral monitoring mechanism to evaluate its macroeconomic framework reforms.[2]