The West African Monetary Agency (WAMA) is an autonomous and specialized agency of the Economic Community of West African States (ECOWAS), established in 1996 following the transformation of the West African Clearing House (WACH). The mission of the Agency is to introduce a single currency for the fifteen (15) ECOWAS Member States under the ECOWAS Monetary Cooperation Programme (EMCP).
WAMA’s mandates include, but are not limited to:
- Enhancing monetary cooperation among Member States.
- Facilitating the harmonization and coordination of monetary and fiscal policies and the implementation of structural adjustments and economic reforms necessary for achieving macroeconomic convergence.
- Ensuring the monitoring, coordination, and implementation of the EMCP.
- Initiating and promoting policies and programs relating to monetary integration in the sub-region.
- Promoting relevant economic research to generate valuable insights and evidence-based policy recommendations to support the region’s economic integration goals.
WAMA is committed to fostering economic research to support evidence-based policy making to facilitate the implementation of the ECOWAS Roadmap (2021-2027) activities to ensure the sustainable adoption of the ECOWAS Single Currency, the ECO, and the establishment of a viable monetary union. To achieve these goals, the Agency has developed a research agenda that is anchored on four critical thematic areas: Public Perception and the ECOWAS Single Currency, Monetary Policy Framework, Exchange Rate Mechanism, and Macroeconomic Policy Coordination. The insights and recommendations generated from these research initiatives will be instrumental in guiding policymaking, enhancing policy cooperation, and ultimately supporting efforts to achieve a viable monetary union within ECOWAS.
The process of establishing a viable monetary union within ECOWAS requires evidence-based policy recommendations to provide valuable insights for informed decision-making to promote monetary integration in West Africa. WAMA policy recommendations mostly emanate through the conduct of multilateral surveillance and economic research. The inclusion of the four thematic research areas in this call for papers is crucial for supporting policymaking to ensure a viable monetary union in ECOWAS.
The Agency is inviting researchers from Central Banks, Ministries of Finance, National Statistics Offices, other relevant Ministries, academic and research institutions. Papers may focus on all ECOWAS member countries, West African Monetary Zone (WAMZ), West African Economic and Monetary Union (WAEMU), or a specific ECOWAS country. This call seeks to bring diverse perspectives and expertise to the discussion on monetary integration in West Africa. Your research will play a crucial role in shaping the future of monetary integration in the region.
