Liberia is set to host critical regional monetary discussions as the Central Bank of Liberia (CBL) intensifies preparations for the 2025 Year-End Statutory Meetings of the West African Monetary Zone (WAMZ) and the Joint West African Monetary Agency (WAMA), scheduled for February 4-13, 2026, in Monrovia.
Ahead of the meetings, the CBL on Friday held a one-day media orientation workshop for journalists from print, broadcast, and online platforms to deepen public understanding of regional monetary integration and the proposed ECO single currency.
The meetings will include the 58th Technical Committee, 52nd Committee of Governors, and 55th Convergence Council, with discussions centered on macroeconomic performance, convergence criteria, remittance flows, financial market integration, and legal frameworks for the ECOWAS Monetary Union.
"This is part of our collaboration with the media to ensure that you have adequate information on the monetary policy operations of the Central Bank and the potential implications for Liberia hosting the WAMZ and ECOWAS statutory meetings," Dr. Dukuly said. "We are always delighted by your presence at the Central Bank."
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Dr. Dukuly traced the origins of West Africa's monetary integration to the ECOWAS Monetary Cooperation Programme (EMCP) launched in 1987, which sought to foster economic integration, boost intra-regional trade, and harmonize monetary policies.
He explained that the initiative eventually led to the creation of two monetary blocs: the CFA franc zone for Francophone countries and the West African Monetary Zone (WAMZ) for Anglophone and Lusophone countries, formally established in 2000.
"The whole idea of the WAMZ was to create a convergence framework--a common economic benchmark through which countries' performances can be assessed and policies harmonized," he said.
WAMZ currently comprises Liberia, Ghana, Nigeria, Sierra Leone, The Gambia, and Guinea, the only Francophone country outside the CFA zone.
According to Dr. Dukuly, the upcoming February meetings will feature both technical-level and policy-level engagements, including sessions under the College of Supervisors, where central banks will exchange experiences on financial sector stability, non-performing loans, climate-related financial risks, and macroeconomic policy coordination.
"This meeting gives Liberia the opportunity not only to learn from other countries but also to share our own experience," Dr. Dukuly said.
"We have made significant progress in sustaining macroeconomic stability, and other countries are keen to understand what Liberia is doing differently."
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He stressed that the meetings will culminate in a comprehensive report containing country-specific recommendations, which will help determine whether ECOWAS is prepared to introduce a single regional currency by 2027.
"This is a very important meeting. It will inform whether the region is ready to move toward a single currency in 2027, and that makes it extremely important for Liberia," he emphasized.
Dr. Dukuly also challenged journalists to embrace their role as watchdogs and development partners, urging responsible reporting on economic and central banking issues.
"You are not just journalists; you are watchdogs and development partners," he said.
"Even if we are doing it wrong, say so. If it is true, we will acknowledge it. That is how credibility is built."
He encouraged reporters to consult the CBL's media team when dealing with sensitive economic information to ensure accuracy and avoid misinformation.
"This meeting will inform whether the region is ready to move toward a single currency in 2027, and that makes it extremely important for Liberia," Dr. Dukuly said.
He noted that Liberia has made significant progress in maintaining macroeconomic stability, adding that the meetings will also allow the country to share its experience with regional peers.
Over 100 delegates, including central bank governors from Liberia, Nigeria, Ghana, and other WAMZ countries, are expected to attend.
