Public Debt and the Exchange Rate in the CFA Franc Zone

Author:

Azam, Jean-Paul

Place:

Oxford

Publisher:

Oxford University Press

Date published:

1997

Record type:

Journal article

Region:

Africa

Journal Title:

Journal of African Economies

Source:

Journal of African Economies Volume 6 Issue 1 March 1997 pp. 54-84

Subject:

PUBLIC DEBT

EXCHANGE RATE

CFA FRANC ZONE

Abstract:

This paper presents a theoretical framework for understanding the reforms that occurred in the CFA franc zone in the 1980s and 1990s, focusing on public debt and the exchange rate. It analyses the real-side adjustment strategy that was adopted initially. It shows how the debt problem and misdirected policy decisions led to the historical devaluation of January 1994, the first since 1948.

Language:

English

Subject profile :

Budgeting / Finance / Accounting

DOI:

https://doi.org/10.1093/oxfordjournals.jae.a020923

CITATION: Azam, Jean-Paul. Public Debt and the Exchange Rate in the CFA Franc Zone . Oxford : Oxford University Press , 1997. Journal of African Economies Volume 6 Issue 1 March 1997 pp. 54-84 - Available at: https://library.au.int/public-debt-and-exchange-rate-cfa-franc-zone