Central Bank of West African States
The Central Bank of West African States (French: Banque Centrale des États de l'Afrique de l'Ouest, BCEAO) is a central bank serving the eight west African countries which share the common West African CFA franc currency and comprise the West African Economic and Monetary Union (UEMOA):
|President||Governor Kone Tiemoko Meyliet|
|Central bank of||West African Economic and Monetary Union|
|Currency||West African CFA franc|
XOF (ISO 4217)
Its predecessor, the Institut d’Emission de l’Afrique Occidentale Française et du Togo ("note-issuing institute of French West Africa and Togo"), was created in 1955 and was transformed into BCEAO in 1959. The treaty establishing the West African Monetary Union (UMOA), signed on May 12, 1962, gave BCEAO the exclusive right to issue the currency as the common central bank for the then seven member countries:
- Côte d’Ivoire
- Dahomey (modern day Benin)
- Haute-Volta (modern day Burkina Faso)
On June 30, 1962 Mali left the group and adopted the Malian franc as national currency. On December 17, 1963 Togo officially joined the UMOA. On May 30, 1973 Mauritania withdrew and adopted the ouguiya as national currency. On February 17, 1984, Mali joined the UMOA again.
- Banque des Etats de l'Afrique Centrale (BEAC)
- Banque d'Afrique Occidentale (BAO) 1901-1962
- Central banks and currencies of Africa
- CFA Franc
- West African CFA franc
- Economy of Benin
- Economy of Burkina Faso
- Economy of Guinea-Bissau
- Economy of Ivory Coast
- Economy of Mali
- Economy of Niger
- Economy of Senegal
- Economy of Togo
- Payment system
- Real-time gross settlement
- "AFI members". AFI Global. 2011-10-10. Archived from the original on 2012-02-20. Retrieved 2012-02-23.
- Mensah, A. (July 1979). "The Process of Monetary Decolonization in Africa" (PDF). Utafiti: Journal of the Faculty of Arts and Social Science, University of Dar Es Salaam. 4 (1): 48–49. Retrieved July 21, 2012.
- "Dates clés" (in French). Central Bank of West African States. Archived from the original on 2012-07-18. Retrieved July 21, 2012.
- "West African States CFA Franc Banknotes: First series of CFA banknotes issued by BCEAO 1959". Retrieved July 21, 2012.[permanent dead link]
- "Traité de l'Union Monétaire Ouest-Africaine" (in French). IZF. Archived from the original on February 22, 2013. Retrieved July 22, 2012. (Article 15)
- "Cadre Institutionnel" (in French). BCEAO. Archived from the original on July 18, 2012. Retrieved July 22, 2012.
- (in French and English) Official site: Banque Centrale des États de l'Afrique de l'Ouest
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