ECOWAS plans to merge with the WAEMU by 2004. Which of the following is not a convergence criteria for the merger?
A) ECOWAS members must control inflation to 5%.
B) ECOWAS countries must have a maximum budget deficit-to-GDP ration of 4%
C) Central bank financing of the budget deficit is limited to 10% of the previous year's tax revenue
D) All of the above are required.
Correct Answer:
Verified
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