The financial performance of convergence criteria in the WAEMU zone

The aim of this book is to analyse the financial performance of convergence criteria in the WAEMU zone. However we used the clustering model through an ascending hierarchical classification of countries based on their performance indicators. The results are then compared with those of certain authors based on a selection criterion that allows us to choose the best solution leading to better data partitioning. After adopting the convergence criteria the results show three levels of performance for the financial indicators: the first level of performance consists of Benin Mali Guinea-Bissau and Togo; the second level of performance consists of Burkina Faso Niger and Senegal; and finally the last level is occupied by Côte d'Ivoire. This can be explained by the high debt ratio and also by the budgetary position it occupies in the region. We have subsequently observed considerable progress in the consolidation of public finances as well as greater convergence of economic policies in the WAEMU region.