The ordinary meeting of the UEMOA Council of Ministers opened in Dakar at the headquarters of the Central Bank of West African States (BCEAO) on Friday, September 30, 2022.

The UEMOA Council of Ministers meeting held last Friday 30 welcomed three new members, Oulimata Sarr and Mamadou Moustapha Bâ from Senegal, respectively Minister of Economy, Planning and Cooperation and Minister of Finance and Budget, then Ilidio Viera Té, Minister of Finance of the Republic of Guinea-Bissau.

At the opening, the President of the Council of Ministers Sani Yaya recalled the persistence of a difficult global context facing the countries of the Western Economic and Monetary Union -Africans have shown themselves to be resilient. According to him, “this session is being held in an international context marked by the continuation of the war in Ukraine and the effects of the health crisis as well as strong inflationary pressures not only in the United States and Europe, but also in Africa. Faced with the price spike, central banks have generally tightened their respective monetary policies. This makes it more and more expensive to finance on international financial markets. In this unfavourable context, the economies of the Union remain globally resilient.”

Furthermore, he recalled that UEMOA should continue the good momentum of the economies “with growth forecasts of 5.2% and 5.3% in the third and fourth quarters 2022”.