West Africa Needs Its Own Draghi Moment
https://www.project-syndicate.org/commentary/west-african-monetary-union-faces-its-biggest-test-by-fernando-morra-1-and-anahi-wiedenbrug-2026-07
Senegal’s debt crisis has exposed a deeper vulnerability within West Africa’s monetary union. Unable to devalue the shared currency, member countries must either endure painful internal adjustment or boost exports to earn the foreign currency they need to repay external creditors.
https://www.project-syndicate.org/commentary/west-african-monetary-union-faces-its-biggest-test-by-fernando-morra-1-and-anahi-wiedenbrug-2026-07
Senegal’s debt crisis has exposed a deeper vulnerability within West Africa’s monetary union. Unable to devalue the shared currency, member countries must either endure painful internal adjustment or boost exports to earn the foreign currency they need to repay external creditors.