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Macro Economic Policy and Economic Research


 

MISSION

The Directorate of Multilateral surveillance exists to promote economic policy harmonisation and monetary co-operation as a means of achieving macroeconomic convergence and eventual attainment of single currency in West Africa.

Its objectives are to sustain macroeconomic stability and convergence in the region within the framework of the ECOWAS Multilateral Surveillance Mechanism and the roadmap for the ECOWAS single currency programme.

The Directorate has also been charged with ensuring the establishment of a Monetary Union for the region; bring about Statistical systems harmonisation as well as engendering Institutional Coordination and Collaboration

 ACTIVITIES AND ACCOMPLISHMENTS

In the pursuit of its mandate, the Directorate has over the years developed and implemented the ECOWAS Multilateral Surveillance Mechanism and the Roadmap for the ECOWAS Single Currency Programme.

It has also created the mechanism for monitoring and evaluation of progress towards macroeconomic stability and macroeconomic convergence the economic and financial policies in the ECOWAS region has now been harmonised.

Other accomplishments include the coordination and facilitation of the establishments and operations of the institutional organs of the ECOWAS, Multilateral Surveillance Mechanism as well as the Production of the ECOWAS Interim and Annual Reports.

The Directorate has also developed, managed and is now operationalising the ECOMAC database. It has established an effective coordination and collaboration mechanism with other regional and international institutions involved in multilateral surveillance, economic management and sustainable development.

IMPACT ON REGIONAL INTEGRATION AND ON COMMUNITY CITIZENS

The most important impact of the activities of the directorate is the achievement of macroeconomic convergence and

stability on a sustained basis in most of the Member States. This has helped in achieving a strategic ECOWAS goal of deepening Economic and Monetary Integration with the objectives of ensuring macroeconomic stability and convergence as well as the introduction of single currency.



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