Daily News  :: West Africa

Ouagadougou - Ministers in charge of finance and economy portfolios from the West African Economic and Monetary Union (UEMOA) member countries met on Wednesday in Ouagadougou and discussed the appointment of new bosses for the two financial organs of the sub-regional body of the Central Bank of West African States (BCEAO) and the West African Development Bank (BOAD).

The two organisations have been operating without chief executives following the appointment of Konan Banny, BCEAO's governor, as the prime minister of Cote d'Ivoire, and the election of BOAD head, Yayi Boni, as Benin's president this year.

The ministerial meeting, which is laying groundwork for the 11th ordinary session of the Union's summit in the Burkina capital on Saturday 23 December, sources said, addressed the issue of succession both at BCEAO and BOAD.

Burkina Faso's Damo Justin Barro, one of the vice-governors, has been managing the affairs of BCEAO.

The ministers were also expected to discuss a draft additional act instituting a new transitional funding period for the regional consular chamber and the difficulties involved in the planned implementation of the convention creating the Sahelian Saharan Bank for Investment and Commerce (BSIC).

"We precisely discussed the search for strategies and means to instil new dynamism into the sub-regional integration process, ensure harmonious funding of our economies and optimal management of our community institutions," said Jean-Baptiste Compaore, incumbent chairman of the UEMOA council of ministers.

On 23 December, the heads of state and government will take stock of the negotiations on the Economic Partnership Agreements (EPAs) between West Africa and the European Union (EU) and examine the outcomes of the deliberations of the donors' roundtable for the UEMOA's Regional Economic Programme (REP) held in Dakar, Senegal, on 2 and 3 November.- panapress