West African States
West African leaders name new central bank governor
Previous governor departed in April, leaving interim leadership unclear
BCEAO governor becomes vice-president of Côte d’Ivoire
Ecowas president Jean-Claude Brou in line to take over as central bank governor
West African central bank denies devaluation
CFA franc has been pegged to European currency since establishment
West African central bank freezes Mali assets
Regional authorities demand Malian military government hold elections as scheduled
People: Former Malawi governor dies
RBNZ deputy governor departing; new appointments in Nigeria; and more
Monetary unions in the making in Africa
EAC, Ecowas and SADC can adopt practical steps learned from EMU to prepare for their own currency unions
People: Central Bank of West Africa governor reappointed for second term
Koné given second six-year term after successful nine years in office; Oman’s sultan selects new central bank board chairman; and Bank of Korea assistant governor awarded deputy governor position
Ghana’s Addison on banking reform, innovation and the future of the eco
The Bank of Ghana governor speaks about the next steps in banking reform and why West Africa may need more time to start using a common currency
West Africa launches new currency in break with France
New ‘eco’ currency will still be pegged to the euro, but France will have less involvement in the affairs of the West African Economic and Monetary Union
Emerging markets face growing debt risk – IMF paper
One-third of emerging market debt over-valued as low-income countries set to issue more
Eritrean authorities must restore central bank independence – IMF
Macroeconomic situation is “dire” and financial sector needs restoring, IMF says
West Africa announces ambitious new ‘eco’ currency plans
Single currency seems unlikely to be introduced by next year, despite updated launch plans
West African single currency plans move towards lift-off
Ecowas community launches competition for design of new currency aimed at strengthening trade and growth within the region
New South African president supports pan-African currency
Cyril Ramaphosa says it is time Africa abandons “colonial mentality” and adopts common currency to foster investment and intra-African trade
BCEAO denounces ‘fraudulent’ messages on social media
The Central Bank of West African States denies the existence of false serial numbers on banknotes
Guinea Bissau still struggling with NPLs, says latest IMF assessment
Country still reeling from failed bailout that saw two banks default; fund stresses the need for prudential regulatory compliance and praises three-pronged approach
West African union must improve monetary transmission, IMF staff say
The West African Economic and Monetary Union must increase the effectiveness of monetary policy, IMF staff say; reforms should target bank refinancing and government securities markets
Deeper markets in WAEMU could boost policy transmission
Research published by the IMF finds the transmission of monetary policy is impeded by ‘shallow’ financial markets in the West African Economic and Monetary Union
IMF urges BCEAO to ‘closely follow’ macro-prudential risks
The Central Bank of West African States has increased the provision of liquidity to commercial banks, which in turn are buying more government debt, increasing risks to financial stability
IMF: Pan-African banks pose oversight challenges
Report highlights need to reconcile regional and national interests in currency unions in the continent to ensure effective regulation and supervision
Central Bank of West African States facing broken transmission mechanisms
Members of the IMF’s African department find the central bank’s ability to influence liquidity conditions in the WAEMU is restricted by the union’s ‘shallow’ financial system
West African securities market is short-sighted, says IMF paper
IMF study indicates West African Economic and Monetary Union securities market fails to meet the needs of longer-term investment
West Africa central bank to audit Ivory Coast offices: reports
Central Bank of West African States wants audit of Ivory Coast offices
West African central bankers receive training in debt managment and corporate governance practices
West African Institute for Financial Management works with IMF and World Bank to train region’s central bankers