IMF praises BCEAO’s latest policy actions

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Photo: International Monetary Fund Headquarters

The International Monetary Fund has praised action taken by the Central Bank of West African States (BCEAO) in its December policy meeting.

At the meeting, the monetary council decided to increase its credit facility rate to 4.5% from 3.5% and tightened access to the refinancing window.

"These measure should encourage banks to reconsider their risk policy and strengthen their capital," says IMF mission chief Boileau Loko, in a statement published February 16.

Loko also says the central bank is ex