This is not the role of IMF programs in many countries of SSA today. Instead, SSA countries have implemented IMF programs on a long term basis – through a succession of consecutive IMF programs; even when these economies are not facing BOP crises and often when they don’t even borrow from the IMF (or only borrow token amounts).
I have outlined the various operational issues that arise in relation to the launch of the euro. It is appropriate to reflect at this point on why a single currency is being introduced. It is seen as essential to full exploitation of the single marketplace and to the economic integration of Europe. It is necessary for the evolution of a single monetary policy.