Ivorian President Alassane Ouattara signed an additional act establishing a new convergence, stability, growth and solidarity pact among WAEMU member states in Abidjan on Thursday 22 October.
The signing followed talks with the president of the Union Commission, Abdoulaye Diop. Ouattara acted as the current chair of the organisation’s Conference of Heads of State and Government.
The text has not yet entered into force. It must be submitted to the other Union heads of state to obtain all required signatures, according to the WAEMU Commission.
Diop described the pact as an essential component of the multilateral surveillance system. The mechanism is intended to monitor and bring member states’ macroeconomic and budget policies closer together.
The regional official said Union growth had exceeded 6% for several years and highlighted the weight of the Ivorian economy. No timetable was announced for the remaining signatures or the pact’s entry into force.