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UEMOA: An “additional act” for better representativeness of states within institutions

30/04/2021
Categories: Economy/Forex

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West African leaders signed an “additional act” supposed to ensure better representation of States within the organization's institutions. The objective is to stabilize the governance of the UEMOA bodies and to put an end to the feuds

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As of May 2021, the presidency of the UEMOA Commission will now return to Senegal. The management of the Regional Council for Public Savings and Financial Markets (CREPMF), which becomes the Financial Markets Authority (AMF), will be entrusted to Togo. For its part, Benin will keep control of the West African Development Bank (BOAD), alongside Mali, which will assume the vice-presidency. In addition, we note the creation of a second vice-presidency of BOAD, which will be awarded to

Guinea-Bissau.

Côte d'Ivoire retains the management of the Central Bank of West African States (BCEAO). For their part, Burkina and Niger retain the functions of vice-governors. This decision by the Heads of State aims to ensure the regular functioning of the Union's bodies and to ensure that each State is definitively represented in the governing bodies

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