Ad-hoc expert group: Addressing the challenges of macroeconomic policy convergence in the Southern African Development Community Region

Ad-hoc expert group: Addressing the challenges of macroeconomic policy convergence in the Southern African Development Community

The objective of the meeting was to review the SADC Macroeconomic Convergence (MEC) Programme for monetary integration. In particular, the experts reviewed a background report on “Addressing the challenges of macroeconomic policy convergence in the SADC region”, which critically examines the SADC macroeconomic convergence criteria, scope and institutional mechanisms, as well as the extent of their implementation and the challenges and constraints encountered so far. The meeting also considered shared experiences and best practices from the European Monetary Union and the West African Economic and Monetary Union (UEMOA) and drew lessons to inform policy and accelerate progress in the implementation of the SADC Macroeconomic Convergence Programme.