Pregledni rad
https://doi.org/10.32676/n.7.1.7
Forming the African Monetary Union: convergence criteria and further challenges
Gordana Kordić
Vlatka Bilas
orcid.org/0000-0002-9021-6651
Monika Obad
Sažetak
According to the Abuja Agreement, the creation of the African Monetary Union and the introduction of
the single African currency are cited as the ultimate goal of African regional integration. Integration
of Africa is considered a driver of economic and social development, trade and competitiveness. The
existing eight African regional economic integrations should represent the foundations of future
continental integration, although their integration is not proceeding at the same pace. Towards deeper
economic integration, Africa faces many challenges such as low intra-regional trade, weak financial
integration, underdeveloped infrastructure and large disparities between African countries. The aim
of this paper is to review the progress made so far in regional economic integration and the laid
foundations for continental integration in Africa, to analyze the fulfillment of convergence criteria
and to define specific challenges in the regional integration of Africa. The expected contribution of
the paper is reflected in the conducted research and systematization of previous achievements in the
field of economic and monetary integration of Africa, which form the basis for the formation of the
African Monetary Union and defining the challenges of future development of this regional economic
integration.
Ključne riječi
monetary union; African union; regional economic integrations; convergence
Hrčak ID:
267089
URI
Datum izdavanja:
13.12.2021.
Posjeta: 896 *