Deeper markets in WAEMU could boost policy transmission
Research published by IMF urges authorities to address ‘shallow’ financial markets
Developing deeper financial markets would help boost the transmission of monetary policy in the West African Economic and Monetary Union (WAEMU), according to research published by the IMF.
In a working paper published on May 5, Alexei Kireyev finds the Central Bank of West African States only has a "very marginal" impact on regional interest rates and inflation.
He attributes this in part to "shallow" financial markets, and recommends the authorities encourage deeper interbank, secondary debt
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