ECOWAS, IMF Seal Strategic Deal To Boost Regional Economy and Policy Coordination
In a move signalling deeper regional cooperation amid shifting global economic dynamics, West Africa has taken a bold step to strengthen its economic governance framework.
The Economic Community of West African States and the International Monetary Fund have signed a Memorandum of Understanding (MoU) aimed at advancing macroeconomic governance, policy coordination and regional integration across the sub-region.
The agreement, signed on 27 March at the ECOWAS Headquarters in Abuja, was formalised by the President of the ECOWAS Commission, Omar Alieu Touray, and the IMF Executive Director for West Africa, Wautabouna Ouattara.
Touray said the MoU would enhance policy dialogue, deepen coordination on macroeconomic and financial issues, and strengthen capacity development in critical areas such as fiscal policy, debt management and statistics.
He added that the agreement would also reinforce regional surveillance and fast-track the ECOWAS Monetary Union agenda.
On his part, Ouattara noted that the partnership would amplify the collective voice of ECOWAS member states within the IMF and ensure that West Africa’s priorities are better reflected in global economic discussions.
The framework is expected to provide a structured and forward-looking approach to cooperation, positioning the region for improved financial stability and sustainable economic growth.
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