01687cas a2200253 a 4500 AALejournalIMF007449 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451857368 1018-5941 BD-DhAAL BD-DhAAL Galy, Michel. The CFA Franc Zone and the EMU / Michel Galy, Michael Hadjimichael. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (42 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Whether the prospective shift of the peg of the CFA franc to the euro would constitute an exchange rate arrangement with EMU countries would depend critically on the interpretation of the free convertibility of the CFA franc guaranteed by France. Nonetheless, this shift is likely to leave the CFA franc arrangements and operating features of the zone essentially unchanged. The current parity of the CFA franc could be considered in line with fundamentals. The potential economic consequences for the CFA franc countries could be positive over the long term, but there is a risk of a weakening of external competitiveness. Mode of access: Internet Hadjimichael, Michael. IMF Working Papers; Working Paper ; No. 1997/156 Full text available on IMF http://elibrary.imf.org/view/journals/001/1997/156/001.1997.issue-156-en.xml IMF e-Library