WAEMU

The West African Economic and Monetary Union, often abbreviated as WAEMU or UEMOA, is an international organization comprising eight West African countries. These member states share a common currency, the West African CFA franc, and are committed to economic integration and development. The primary objective of WAEMU is to strengthen economic cooperation, promote balanced development, and foster monetary and financial stability within the region.

Established in 1994, WAEMU evolved from earlier economic communities. Its institutional framework includes a Conference of Heads of State and Government as the supreme body, a Council of Ministers, and a Parliament. A Commission serves as the executive arm, implementing policies and proposals. The Union also has a Central Bank, the Central Bank of West African States (BCEAO), which manages monetary policy for all member countries.

WAEMU's activities encompass a wide range of economic policies, including trade liberalization, harmonization of fiscal policies, coordination of sectoral policies in areas like agriculture and industry, and the establishment of common infrastructure projects. The organization aims to create a larger, more integrated market to attract investment and enhance competitiveness. Member countries include Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.