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WAMZ Mid-Year Statutory Meetings slated for 5 - 15 September

The Government of Ghana under the auspices of the Ministry of Finance and the Bank of Ghana, and in collaboration with the West African Monetary Agency (WAMA), the West Africa Institute for Financial and Economic Management (WAIFEM), and the West Africa Monetary Institute (WAMI) will host the 2023 Mid-Year Statutory meetings of the West African Monetary Zone from 5th - 15th September 2023 in Accra.

The meetings will include comprehensive review of Macroeconomic Developments and Convergence reports for member states.

This assessment aims to evaluate progress made toward meeting the primary and secondary criteria required for macroeconomic convergence within the zone.

"The West African Monetary Institutions are committed to fostering economic cooperation and integration within the region, and these meetings play a pivotal role in advancing this mission"

"The West African Monetary Zone (WAMZ) is composed of six member states: The Gambia, Ghana, Guinea, Liberia, Nigeria, and Sierra Leone"

"Its organizational structure includes the Authority of Heads of States and Government of the WAMZ, the Convergence Council, the Committee of Governors, and the Technical Committee. These meetings are hosted by Member States of the WAMA and WAMZ on a rotational basis"

"The West African Monetary Agency (WAMA) is an autonomous and specialized agency of ECOWAS, tasked with monitoring, coordinating, and implementing the ECOWAS Monetary Cooperation Programme (EMCP), which aims to establish a single currency for ECOWAS member states.

WAMA's membership comprises eight central banks of ECOWAS member states, including the BCEAO, the Bank of Cape Verde, the Central Bank of The Gambia, the Bank of Ghana, the Central Bank of the Republic of Guinea, the Central Bank of Liberia, the Central Bank of Nigeria, and the Bank of Sierra Leone.

The West African Institute for Financial and Economic Management (WAIFEM) is a sub-regional capacity-building organization.

WAIFEM's primary goal is to strengthen capacity in areas such as macroeconomic management, debt management, and financial and economic analysis.

It collaborates with various organizations and institutions to provide training and capacity development activities in West Africa.

"The meetings are scheduled as follows; 7th Meeting of the Audit Committee of WAMA (5th  September 2023), 48th Technical Committee Meeting of WAIFEM (6th  September 2023), 43rd Joint Ordinary Meeting of the Economic and Monetary Affairs Committee and the Operations and Administrative Committee, WAMA (7th-9th  September 2023)"

"46th Meeting of the College of Supervisors of the WAMZ (CSWAMZ) (7th-11th  September 2023), 8th Meeting of College of Supervisors of Non-Bank Financial Institutions (CSNBFI) of the WAMZ (7th-11th  September 2023); 53rd Meeting of the Technical Committee of WAMZ (11th  – 12th September 2023).

"47th Meeting of the Committee of Governors of Central Banks of WAMZ (14th  September 2023), 45th Meeting of the Board of Governors, WAIFEM (14th September 2023), 62nd Ordinary Meeting of the Committee of Governors of Central Banks of ECOWAS Member States, WAMA (14th September 2023); and the 50th Meeting of the Convergence Council of Ministers and Governors of Central Banks of the WAMZ (15th September 2023).

Story by: Joshua Kwabena Smith



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