Fofana on Sierra Leone's post-conflict economy

- Central Banking staff
- 10 Aug 2004

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In a speech on 'Managing Sierra Leone's post-conflict economy' given on 12 July, Mohamed Fofana of the Bank of Sierra Leone said that there is a need to ensure that West African countries stay the course in their commitment to achieve economic convergence. But virtually all the countries have found it difficult to achieve and sustain, over time, the required level of economic performance under the convergence criteria.

"The persistent slippages do not augur well for the July 2005 deadline for the launch of the Second Monetary Zone. In this regard, it is imperative that all hands be put on deck in pursuing the monetary integration project. As legislators, your involvement in enacting the enabling legislation that would form the legal underpinning for the policies, programmes and institutional framework for the monetary union will be critical. In this connection, the national parliaments should set up as a matter of urgency, research units comprising economists and financial experts to provide the requisite professional back-stopping for them."

To read past central bank speeches use our Speech Finder. Click the link on the right.

Keynote address by Mr Mohamed S Fofana, Deputy Governor of the Bank of Sierra Leone, at the opening ceremony of the Regional Forum on Economic and Financial Management for Legislators, Freetown, Sierra Leone, 12 July 2004.

Click here to read the speech "Managing Sierra Leone's post-conflict economy" on the BIS web site

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