The CFA franc zone: economic development and the post-Covid recovery

1. The Context -- 2. The Institutional Arrangements that Govern the Zone -- 3. History of the CFA Zone -- 4. The Macron and Ouattara Reform of the CFA -- 5. The Problem with the CFA Zone -- 6. Reforming and Modernizing the Zone with Currency Flexibility -- 7. The Roadmap for a Better Future -- 8. Poverty Traps in the Sahel -- 9. Dutch Disease and Resource Curse in CEMAC -- 10. The Underperforming Private Sector -- 11. Stagnant Agriculture and the Lack of Structural Transformation -- 12. Climate Change and Migration -- 13. The Tragedy of Lower Quality Economic Analysis for Poorer Countries -- 14. Geopolitics, France, and African Elites: The Political Economy -- 15. The Triumph of Politics over Economics -- 16. How Britain was Different: The Story of the Sterling Zone -- 17. Exits from the CFA style arrangements: Experience of Mauritania Morocco, and Vietnam -- 18. Colonialism, Racism, and Black Lives -- 19. The Winds of Change -- 20. Less Competitive Economies -- 21. Political Economy of Urban Bias against Rural Poor -- 22. Coping with Shocks: Erratic Public Investment in CFA Zone -- 23. Lack of Independent Monetary Policy and Financial Intermediation Challenges -- 24. Importance of Flexible Exchange Rate to Deal with Covid Shocks -- 25. Impact of the Covid-19 Pandemic on the CFA Zone -- 26. What is Happening to Growth and Inflation -- 27. Widening Twin Deficits in the Subzones -- 28. Accelerating Debt -- 29. Recent Misalignment -- 30. Getting out of the Impasse: Exchange Rate Options for the CFA Zone -- 31. Alternative Pegs for the CFA: Basket, Separate Pegs for UEMOA and CEMAC, Peg to Dollar -- 32. Possible Floating Arrangements for the CFA: Managed and Free Floating -- 33. Goodbye CFA: Ten Steps Exchange Rate Reform Roadmap for a post-Covid World -- 34. How to Address Growing CFA Zone Debt -- 35. Strengthen Supply Chains, Reduce Transport Costs, and Accelerate Regional Integration -- 36. Time to Support SME Development in the CFA Zone.