West Africa: CBL, MFDP Join Ecowas Talks On Monetary Integration, Financial Stability

5 August 2025
Liberian Observer (Monrovia)
By David a. Yates

The Central Bank of Liberia (CBL) and the Ministry of Finance and Development Planning (MFDP) are participating in the 2025 Mid-Year Joint Statutory Meetings of ECOWAS monetary institutions, which officially kicked off on Monday, August 4, 2025.

Held virtually and expected to run until August 18, the meetings bring together key regional monetary and economic bodies including the West African Monetary Agency (WAMA), the West African Monetary Institute (WAMI), and the West African Institute for Financial and Economic Management (WAIFEM).

These high-level engagements form part of ECOWAS's broader efforts to deepen monetary cooperation, advance regional financial integration, and promote macroeconomic policy coordination among member states.

Key meetings on the schedule include:

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August 4-6: The First Ordinary Joint Meeting of the Economic and Monetary Affairs Committee of WAMA and the Macroeconomic Policy Technical Committee of the ECOWAS Commission.

August 7-8: The 52nd Meeting of the WAIFEM Technical Committee.

August 11-12: The 57th Meeting of the WAMI Technical Committee.

August 14: The 66th Ordinary Meeting of the ECOWAS Committee of Governors.

August 15: The 54th Meeting of the WAMZ Convergence Council.

August 18: The 12th Ordinary Meeting of the ECOWAS Convergence Council of Ministers and Governors.

Participants from across the ECOWAS region, including central bank governors, senior finance ministry officials, technical experts, and development partners, are expected to review and deliberate on a range of strategic issues, such as: The ECOWAS Macroeconomic Convergence Report for 2024; The status of implementation of the ECOWAS Roadmap; Exchange rate developments and inflation trends; Progress on the ECOWAS Solidarity and Stabilization Fund; Financial sector developments and regional payment systems; and Preparations for the launch of the ECOWAS single currency, the ECO, by 2027.

In addition to technical reviews, the meetings are addressing the impact of global economic uncertainty, regional inflationary pressures, and currency depreciation -- especially in West African Monetary Zone (WAMZ) countries -- on intra-regional trade and the monetary integration process.

"These statutory meetings, which will virtually be attended by both the Ministry of Finance & Development Planning (MFDP) and the CBL, reaffirm our collective commitment to regional integration and economic transformation," said Henry F. Saamoi, Executive Governor of the Central Bank of Liberia. "They provide a platform for evidence-based dialogue and coordinated action to address shared challenges and accelerate the realization of the ECO."

The outcomes of the meetings are expected to shape the strategic direction of ECOWAS monetary cooperation and contribute meaningfully to building a more resilient, financially stable, and economically integrated West African region.

Read the original article on Liberian Observer.

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