CAEMCCentral African Economic and Monetary Community (Republic of South Africa)
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* 14 countries from the two CFA monetary unions: WAEMU and CAEMC whose currency is pegged to the euro.
ECCAS is a larger economic union that encompasses CAEMC. WAMZ and WAEMU have launched discussions in the 1980s regarding an eventual merging of their communities to create a larger economic and monetary union.
The WAEMU and CAEMC are two subzones of the CFA franc zone and operate rigid exchange rate pegs to the Euro at a fixed rate of Eurol:CFA655.957.
The Banque Centrale des Etats de L'Afrique de I'Ouest (BCEAO) issues the currency for WAEMU members: Benin, Burkina Faso, Cote d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo and the Banque des Etats de L'Afrique Centrale (BEAC) issues the currency for CAEMC members: Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea and Gabon.
It aims to show whether the gap in the standards of living between the three countries has deepened over time or been reduced as well as to demonstrate whether the integration mechanisms put forward by the CAEMC have led to the levelling of standards of living between these countries.