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Towards a common currency for AES countries based on resources: theoretical approaches and practical aspects

Author

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  • NENOVSKY, Nikolay
  • BONDI, Gildas

Abstract

The aim of this article is to examine the theoretical foundations and practical aspects underlying the creation of a common currency based on natural resources within the Alliance of Sahel States (AES). On 6 July 2024 in Niamey, the leaders of Mali, Burkina Faso and Niger signed the constitutive act of the Confederation of Sahel States, confirming at the same time the departure of the three countries from the Economic Community of West African States (ECOWAS). The new Confederation of the Sahel States has decided, among other things, to set up an investment bank and a stabilisation fund. It is therefore plausible that the confederation will soon adopt a common currency. From a scientific point of view, it is interesting to see how this new currency would be guaranteed by the natural resources of the AES countries.

Suggested Citation

  • NENOVSKY, Nikolay & BONDI, Gildas, 2024. "Towards a common currency for AES countries based on resources: theoretical approaches and practical aspects," MPRA Paper 121465, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:121465
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    File URL: https://mpra.ub.uni-muenchen.de/121465/1/MPRA_paper_121465.pdf
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    More about this item

    Keywords

    Alliance of Sahel States (AES); common currency; natural resources-based currency; Africa;
    All these keywords.

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • F45 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Macroeconomic Issues of Monetary Unions
    • F5 - International Economics - - International Relations, National Security, and International Political Economy

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