The annual report for the financial year 2024 of the Central Bank of West African States (BCEAO) was recently published. This document reveals that over the past year, no debt relief has been granted by the IMF to the eight member countries of the West African Economic and Monetary Union (UEMOA

The transactions carried out in 2024 by the BCEAO with the IMF, on behalf of the member countries of the Union, resulted in net inflows of resources of 655.74 million Special Drawing Rights (SDR), or 540.59 billion CFA francs, against 1 085.44 million SDR (878.78 billion FCFA) registered in 2023. According to information, this decrease is the result of a decrease in the volume of draws, combined with an increase in reimbursements made by States

According to the report, disbursements made by UEMOA countries fell by 12.29%, to 1,356.86 million SDR (1,118.25 billion FCFA), while repayments increased significantly, from 389.46 million SDR (314.43 billion FCFA) in 2023 to 594.62 million SDR (490.44 billion FCFA) in 2024, an increase of 205.16

The report also mentions that the burdens borne by the BCEAO and the Member States in 2024 amount to 196.47 million SDR (162 billion FCFA), compared to 175.04 million SDR (141.29 billion FCFA) the previous year. These expenses mainly include commissions paid by the Central Bank as well as interest expenses related to the arrangements of the Extended Credit Mechanism (MEDC), the Rapid Financing Instrument (IFR) and the Confirmation Agreement