The governor of the Central Bank of West African States (BCEAO), Tiémoko Meyliet Koné, announced that a major reshuffle has been made on the monetary cooperation agreements linking the member states of the zone to the France. This, in order to allow the WAEMU economies to accommodate the ECO.

However, "with a view to making the ECO the foundation of the dynamism of the economic union, as well as the prosperity of the populations of the countries concerned, the highest authorities of the WAEMU wished to retain two key pillars of the monetary stability of the zone", explained the governor of the bank.

These two pillars are the fixed exchange rate against the euro (which ensures the current parity) and the guarantee of unlimited convertibility of the currency by the France, reports financialafrik.com.