Course Summary
Central Bank of West African States (BCEAO), CFA: Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal and Togo
WEST AFRICAN ECONOMIC AND MONETARY UNION (UEMOA) was created by Treaty
in January 1994 by the Heads of States of seven West African countries using the
common currency, CFA franc, namely Benin, Burkina Faso,
Ivory Coast, Mali,
Niger, Senegal and Togo. In May 1997, Guinea-Bissau became the eighth member of
the Union.
This regional economic organization was to a large extent the brainchild
of Mr Charles Konan Banny, Governor of the Central Bank of West African States
(BCEAO), whose experts have played a major role in establishing the guiding
principles and institutional framework of UEMOA. Because of its important role
in especially the initial phases of the establishment of the new Union, this
Bank, as well as the West African Development Bank (BOAD) are and will remain
inextricably linked to it.
The UEMOA Council of Ministers met in Ouagadougou on 6 August 1999, focusing
on the economic situation within member states and trade relations between the
union and other countries. The UEMOA Inter-Parliamentary Committee adopted a
draft treaty on the creation of a regional parliament.
The UEMOA Summit convened in Lome in December 1999, immediately prior to the
ECOWAS Summit and announced the take off of their common monetary zone in
January 2000.
The main objectives of the UEMOA are to strengthen the competitiveness of
economic and financial activities of member states in the framework of an open
and competitive market and a harmonized legal environment.
Sample of the Course:
UEMOA, West, African, Economic, Monetary, Union, CFA FRANC, Central Bank, West African, States, BCEAO, common currency, Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal, Togo, Master, International Business
