Macroeconomic convergence is a core issue under the ECOWAS monetary Cooperation programme. In addition to facilitating policy coordination, it affords the opportunity of ensuring macroeconomic stability, thereby, guaranteeing the purchasing power of the common currency being envisaged. Thus, in pursuance of the need for convergence of the economies within the sub-region, certain indicators have been […]
1. The fifty-first (51st) Ordinary Meeting of the Committee of Governors of Central Banks of ECOWAS Member States was held on 8 February 2018 in Banjul, The Gambia. 2. The Governors of the following Member Central Banks participated: i. Banque Centrale des Etats de l’Afrique de l’Ouest (BCEAO); ii. Banque Centrale de la République de […]
Welcome to yet another edition of the WAMA News Bulletin. The topics in this edition include Corporate Governance in Banks which focused on the roles of the Board of Directors. The quality of corporate governance is critical for banks to perform their intermediation functions effectively. The article explores some ways in which such improvement can […]
The stabilization of exchange rates of ECOWAS currencies features prominently in the road map designed for the establishment of a sub regional single currency. This is considered as a continuous process to be finalized two years before the launch of the single currency. Hence the need for a close monitoring of trends in exchange rates […]
Executive Summary ECOWAS countries faced significant challenges in the first half of 2009 and performance on the convergence criteria was mixed. Budget deficits deteriorated, reserves were much lower but there was some improvement in the inflation. Some of the outturn reflected developments in the international economy. On the international economic developments and their impact for […]
The new road map that will lead to the adoption of a single currency in West Africa was adopted on 25 May 2009. That road map is the outcome of the implementation of the instruction given by the Assembly of ECOWAS Heads of State and Government during its summit held on June 15, 2007 in […]
The international economy has been affected during the last two years by asuccession of crises. The spiral has started with a food crisis which was mainly caused by the increasing use of cereals for the production of biofuel combinedwith a series of bad weather which affected certain production sites. This situation resulted in a considerable […]
The West African Monetary Agency (WAMA) is a specialised autonomous agency of the Economic Community of West African States (ECOWAS) responsible for the monitoring, coordination and implementation of the ECOWAS Monetary Cooperation Programme (EMCP). The ultimate objective of the EMCP is the establishment of a single monetary zone to be managed by a community central […]
Executive Summary The 2008 Macroeconomic Convergence Report and prospects for 2009 is divided into four main sections as follows: Section one deals with international developments, section two contains an overview of the situation of macroeconomic convergence in ECOWAS member states, Section three highlights the country-specific macroeconomic developments and status of convergence and the last section […]
WAMA GETS A NEW DIRECTOR GENERAL Prof Mohamed Ben Omar Ndiaye assumed office as Director General of the West African Monetary Agency (WAMA) on the 1st of June 2008. A professor of Economics with a long period of experience in research and teaching at the University of Cheikh Anta Diop (UCAD) in Dakar Senegal. He […]
