Tuesday, June 18, 2013 07:25
CBL Boss Addresses WAMZ Confab Today
The Executive Governor of the Central Bank of Liberia, Dr. Joseph Mills Jones is expected to address the College of Supervisors of the West African Monetary Zone (WAMZ) today in Monrovia. A high-level statutory conference of the Committees of the Minister of Finance and Governor of Central Banks and the College of Supervisors of the West African Monetary Zone (WAMZ) opened in Monrovia last Friday, July 6 at the Monrovia City Hall.
Liberia is hosting the meeting for the first time to discuss the establishment of a Central Bank of West Africa and to also address issues of a single currency system in the sub-region.
Sources in financial and economic circles say the CBL Boss will be bringing serious fruit of thoughts to the conferees relative to the mission of the meeting.
The meetings which conclude on Friday, July 13 also seek to address issues such as the harmonization of payment system and a free trade movement for West African countries.
Participants at the statutory meetings, which are being organized by the Ministry of Finance and the Central Bank of Liberia will deliberate on the status of the implementation of the WAMZ programs and review the report of the 31st meeting of the technical committee to form the basis of the deliberations.
At the same time, they will hold discussions on the remaining challenges notably in public finance; trade and financial sector development and the commencement date for the complete Monetary Union in early 2013 are amongst issues to be highlighted in these meetings.
More than three hundred financial experts and representatives from West African sub-region are expected to attend the mid-year statutory meetings. Also attending are representatives of multilateral financial institutions in Liberia.
WAMZ includes member countries of the West African Monetary Institute (WAMI), the West African Monetary Agency (WAMA), the West African Institute for Financial and Economic Management (WAIFEM) and the College of Supervisors. The member countries of WAMZ are The Gambia, Guinea, Nigeria, Sierra Leone and Liberia.