Purpose - A spectre is hunting embryonic African monetary zones: the EMU crisis. This paper assesses real, monetary and … Africa is facing stiff challenges in the timing of monetary convergence, the imperative of central bankers to apply common …

for developing regions such as Sub-Saharan Africa, taking steps toward fixed exchange rate frameworks, as a milestone on … of what might work for African economies, which are heterogeneous and do not meet the optimal currency criteria. The … benchmark of South African provinces. The results confirm that a monetary union alone is no guarantee for good outcomes: Among …