IMF Warns WAEMU May Miss Revenue Target Until 2048 Amid Weak Tax Collection

• Tax-to-GDP ratio stuck at 14% despite two decades of reform
• Lagging mobilisation risks investor confidence, fiscal resilience

West Africa’s monetary union is unlikely to meet its longstanding revenue mobilisation target before 2048, the International Monetary Fund has warned, citing persistently weak tax collection across member states. Despite more than 20 years of reform efforts, the average tax-to-GDP ratio across the West African Economic and Monetary Union (WAEMU) remains anchored at 14%—well below the 20% threshold once set under the region’s now-suspended Convergence Pact.