How do you 'stop' in VBA?
If you Exit Sub, then how do you get going again?
If you find better than this, please let me know:

Sub Main() ' (XL97/WIN98)
Dim WBName$, i%
Workbooks.Add
WBName = ActiveWorkbook.Name
MsgBox "Just opened " & Workbooks(WBName).Name
Do While XLWinStat(WBName) ' this is the 'wait' loop
' the for..next is to not hog the system
For i = 1 To 1000: DoEvents: Next i
Loop
MsgBox WBName & " is closed. Am proceeding ..."
End Sub

Function XLWinStat%(WBName$)
On Error GoTo XLWSerr
If Workbooks(WBName).Name = WBName Then
XLWinStat = 1: Exit Function
End If
Stop ' never gets here
XLWSerr: ' gets here when WBName is closed
End Function

Bob wrote:
You will need 2 macros, one that opens the workbook and stops, and then trap
the BeforeClose event of that workbook.

michael wrote
Does anyone know how to do the following:
I have a macro that does some things
including open up a workbook, then I need the macro to wait until this
workbook is closed while I edit some values, then proceed with the rest
of the macro.