The State of Union

24/06/2011
The State of Union

The Togolese Minister of Economy and Finance, Adji Otèth Ayassor (photo), participated, on Friday at Dakar, in the meeting of finance ministers of the Economic and Monetary Union of West Africa. 

An important event because it is an update on the operation of all structures depending on the Union: mainly, Central Bank (BCEAO), BOAD, BRVM, the savings market. 

Participants must approve the 2011 supplementary budget and review the development activities of the regional financial market.

On the agenda was also the resumption of activities of the Regional Stock Exchange (BRVM) in Abidjan and the offshore savings market during the troubles in Ivory Coast respectively, in Mali and Togo. 

The ministers will discuss the financial arrangements of local authorities and the harmonization of taxation for companies in EU countries. 

Regarding the activities of the Central Bank of the States of West Africa (BCEAO), the Dakar meeting must review the Economic and Monetary Union on 31 December 2010.

In addition, central bankers will have to cut to the debate about the future of the Regional Solidarity Bank (BRS) as the BCEAO wishes to withdraw capital from the "mixed" results of the institution.

Finally, participants will review the activities of the eight UEMOA countries in the fight against drugs and money laundering.

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