West African Economic and Monetary Union

A West African monetary union has agreed to lift its suspension of Mali, imposed in January 2022 over the ruling junta's timeline for returning to civilian rule, it said in a statement.

The West African Economic and Monetary Union (UEMOA) came to the decision during an extraordinary session held in Guinea-Bissau on Saturday, it said in the communique received on July 9 by AFP.

The International Monetary Fund (IMF) will keep financial sectors of seven countries, including Turkey, under spotlight this year, the global crisis lender said in a blog post on Feb. 4.

It is official that the Eco will replace the CFA franc as the new currency for the eight Francophone countries that form the West African Economic and Monetary Union (UEMOA).

France's Council of Ministers officially passed a bill earlier this month that ratified the reform of the monetary agreement that bound the French government to the eight member states.