UEMOA ministers adopt key decisions for regional financial system development and stability
via Abidjan.net9 min read
Finance ministers from the eight West African Economic and Monetary Union UEMOA countries convened in Ouagadougou on Friday, July 3, 2026, for their second ordinary session of the Council of Ministers for 2026. During the meeting, important decisions were made to foster the development and stability of the regional financial system. The UEMOA Financial Markets Authority received its 2026 budget, and decisions were adopted regarding the renewal of mandates and appointment of members to its College, ensuring the institution can continue its missions effectively. Dr. Aboubacar Nacanabo, President of the Council of Ministers and Burkina Faso's Minister of Economy and Finance, emphasized the need for a deeper, more dynamic, and innovative regional financial market focused on development priorities. He noted that decisions concerning interventions by the West African Development Bank BOAD, including those with the International Finance Corporation, PROPARCO, and Sumitomo Mitsui Banking Corporation, align with this ambition, aiming to strengthen the BOAD's resource mobilization and operational capacity. The ministers also operationalized the UMOA Financial Stability Fund, a significant step to enhance collective capacity to anticipate risks, contain crises, and preserve monetary and financial stability. Furthermore, they adopted regulations for community procedures on market authorization and decided to increase surveillance of veterinary medicines within the UEMOA space, establishi
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This summary was AI-generated from a story originally published by Abidjan.net.
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