Monetary coordination could then move gradually towards the ultimate goal of creating a common currency.

He is a former Managing Director of the International Monetary Fund and has served as Chairman of the Paris Club and Chairman of the Monetary Committee of the European Economic Community.

At the subregional level, the Office will increase its cooperation, particularly with the Central African Economic and Monetary Community (CEMAC), the Economic Community of Central African States and the Multinational Force of the Central African Economic and Monetary Community (FOMUC) in the fields of security, early warning and prevention.

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The Central African Economic and Monetary Community (CEMAC), which had recently set up the Action Group against Money Laundering in Central Africa (GABAC), was playing an important role in combating the financing of terrorism.

Currency borders generally coincide with political borders, so the creation of a monetary union was expected to give rise to some sort of common polity. Sharing a currency was expected to create a sense of common destiny, and hence solidarity, among the participants.

For example, Poland and the Czech Republic have seen their currencies go up by close to 30 and 15 , respectively. Major countries also have undergone currency appreciations 30 for Japan and 15 for China.

BONUCA will continue to work closely with subregional partners, including the Central African Economic and Monetary Community, the Economic Community of Central African States and the CEMAC Multinational Force.

Peace related efforts by the Economic Community of West African States, the Central African Economic and Monetary Community, the Southern Africa Development Community and the Inter Governmental Authority on Development also deserve commendation.

Treaty Establishing the Central African Economic and Monetary Community (N'Djamena, 16 March 1994) Traité Modifié de l'union Economique et Monétaire Ouest Africaine (UEMOA), 29 January 2003

Modern electronic technology will not eliminate paper notes and coins soon, so there is still plenty of time to make use of the symbolic value of a common currency. Indeed, even if the eurozone breaks up, each European country could adopt a different currency but retain common symbols.

30. The currency of payment should be clearly specified in the contract.

African Centre for Monetary Studies

Such analysis is prepared jointly by the World Bank and IMF, in collaboration with the debtor country concerned.

Why would anyone, especially a European, want to kill a program that so far has helped to save the common currency?

To that end, we should all strive to achieve greater coherence among the international trading, monetary and financial systems.

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International Monetary Fund (IMF)

In China, unlike in advanced countries, monetary and sterilization policy are often one in the same. The degree to which monetary policy is expansionary depends on the degree to which the liquidity created by currency market intervention has been sterilized.

(c) The responses reflect a variety of experiences regarding cost sharing and or co financing with the World Bank and IMF.

At the same time, there is a need to increase the monetary value of GDP, that is, the amount of currency employed in the economy, without causing inflation.

The Fund s policy advice and surveillance functions and its technical assistance are supportive of the efforts of the African Economic Community.

The member States of the Economic and Monetary Union decided in the Community Infrastructure and Road Action Programme of the Economic and Monetary Union, which was adopted in 2001, to reconstruct or rehabilitate 13,300 km of road infrastructure.

A two year project with the International Monetary Fund on macroeconomic policy had recently come to an end with positive results relating to fiscal, exchange and monetary targets and structural reform.

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