The Portuguese Escudo Monetary Zone

This monograph examines the failure of the Portuguese Escudo Monetary Zone and the birth of new monetary and financial systems in Portuguese-speaking African countries. Examining colonial and post-colonial times, Mata analyses the decision to build a Portuguese monetary area in the early 1960s and mid-1970s when the decolonisation process was peaking.This book offers some important lessons regarding the functioning and dismantling of monetary areas, and on the importance of central-banks' co-operation.

This monograph examines the failure of the Portuguese Escudo Monetary Zone and the birth of new monetary and financial systems in Portuguese-speaking African countries. Examining colonial and post-colonial times, Mata analyses the decision to build a Portuguese monetary area in the early 1960s and mid-1970s when the decolonisation process was peaking.

Chapter 1: Introduction: Why to Study “The Portuguese Escudo Monetary Zone and its Impact in Colonial and Post-Colonial Africa”.- Part I. The Origin of the Escudo Monetary Zone.- Chapter 2: The Escudo Monetary Zone.- Chapter 3: The Difficulties in launching the Escudo Monetary Zone.- Chapter 4: War, Confidence, and Expectations. Adjusting the Rules of the Escudo Monetary Zone.- Part II. The Transition to a Revised Escudo Monetary Zone.- Chapter 5: The Heritage from the 1963–1968 Period. Marcelo Caetano and the Decision of Asking for Studies.- Chapter 6: The Technical and Political Discussion of the Escudo Zone Problems, and the Reform of 1971.- Chapter 7: The results of the 1971 Reform of Escudo Monetary Zone Union. The Angolan and Moçambican Divergence.- Part III. The End of the Revised Escudo Monetary System.- Chapter 8: Decolonisation and Independence Agreements. Retornados and difficulties of the Banking System.- Chapter 9: The Genesis of theNew Currency Units and Banking Systems in the Portuguese-Speaking African Countries. The Co-operation with Portugal.- Chapter 10: The End of the Escudo Zone Monetary Fund in 1980. The continuation of co-operation.- Part IV. Co-operation from Independences to the End of the Millenium.- Chapter 11: The New Currencies in the West-African Portuguese-Speaking
Countries and the Portuguese Co-operation.- Chapter 12: The Angolan Kwanza and the Portuguese Co-operation.- Chapter 13: The Mozambican Metical and the Portuguese Co-operation.- Chapter 14: Final Remarks: Conclusions.