IMF urges BCEAO to ‘closely follow’ macro-prudential risks

IMF headquarters in Washington DC
IMF headquarters

The Central Bank of West African States (BCEAO) should "very closely follow the evolution of the macro-prudential risks" resulting from its "sharp increase" of commercial bank refinancing, the IMF warned yesterday.

Since 2011, commercial banks have increased their borrowing from the BCEAO – which serves Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal and Togo – at the same time as they have increased their holdings of government securities.

In its latest report on the regio

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