**Author details**

*Source: WAMI, Annual Report and Statement of Accounts (various issues).*

*Source: WAMI, Annual Report and Statement of Accounts (various issues).*

*Source: WAMI, Annual Report and Statement of Accounts (various issues).*

*Deviation from external reserves (in months of import cover) threshold.*

*while a negative value indicates a country is below the threshold (unfavorable development).*

*while a positive value implies a country is above the threshold.*

*Deviation from central bank financing threshold.*

*a positive value implies a country is above the threshold.*

*Regional Development in Africa*

*Member States' deviation from fiscal deficit threshold.*

**Table A3.**

**Table A4.**

**Table A5.**

**94**

*The fiscal deficit/GDP threshold used is 3.0 percent. A negative value indicates a country is within the threshold, while*

*The central bank financing threshold used is 10.0 percent. A negative value indicates a country is below the threshold,*

*The GRMI threshold used is 3.0. A positive value implies a country is above the threshold (favorable development),*

Akpan H. Ekpo1,2

1 Department of Economics, University of Uyo, Uyo, Nigeria

2 Foundation for Economic Research and Training (FERT), Uyo and Lagos, Nigeria

\*Address all correspondence to: ahekpo@gmail.com

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