OFFICE OF THE PRESIDENT OFFICE OF THE VICE PRESIDENT ADMINISTRATION AND FINANCE DEPARTMENT AGRICULTURE, ENVIRONMENT & WATER RESOURCES DEPARTMENT HUMAN DEVELOPMENT AND GENDER DEPARTMENT INFRASTRUCTURE DEPARTMENT MACRO-ECONOMIC POLICY DEPARTMENT POLITICAL AFFAIRS, PEACE & SECURITY DEPARTMENT TRADE, CUSTOMS, INDUSTRY & FREE MOVEMENT DEPARTMENT

MACRO-ECONOMIC POLICY DEPARTMENT

Dr. Ibrahim Bocar BA
Commissionner

 
Multilateral Surveillance Directorate

Deparmental Template

Brief Description 

The Directorate of Multilateral Surveillance is one of the three Directorates in the Department of Macroeconomic Policy in ECOWAS Commission.  The Directorate is entrusted with monitoring and evaluating the macroeconomic performance of ECOWAS Member States with a view to promoting macroeconomic stability and convergence. It also promotes the harmonisation of national economic and financial policies towards the establishment of an economic and monetary union.

The Directorate works closely with the West African Monetary Agency (WAMA), which is a specialized Agency of ECOWAS established to promote monetary cooperation among the ECOWAS Member States.  WAMA is based in Freetown, Sierra Leone. The Directorate also works closely with the West African Monetary Institute (WAMI), which was established to promote the establishment of a second monetary zone in West Africa, known as the West African Monetary Zone (WAMZ).  All ECOWAS Member States which are not members of the UEMOA, except Cape Verde, are members of the WAMZ.  Specifically, the ECOWAS Member States in the WAMZ are The Gambia, Ghana, Guinea, Nigeria, Liberia and Sierra Leone.

 The specific duties of the Directorate of Multilateral Surveillance are as follows:

Evaluation of the general performance of the West African economy to determine compliance with the convergence criteria under the multilateral surveillance mechanism.

 

Initiating and monitoring regional policies for achieving macroeconomic stability and macroeconomic convergence within the framework of the multilateral surveillance mechanism.

 

  • Monitoring the establishment and effective operations of institutional organs of the multilateral surveillance mechanism to ensure the effective implementation of the mechanism.

  • Harmonisation of national economic and financial policies including public finance frameworks within the framework of regional integration agenda.

  • Conducting studies to inform policy on the performance of the regional economy with a view to engendering macroeconomic stability and sustainable economic development.

  • Maintaining close collaboration with regional and non-regional institutions involved in ensuring macroeconomic stability and fostering the achievement of the African Monetary Cooperation Programme.  The institutions include the following: WAMI, WAMA, AU Commission, EU Commission, UEMOA Commission, ADB, ECA, ACBF, IMF and World Bank.

 

3. Achievements

 

· Effective collaboration with the West African Monetary Institute (WAMI) and the West African Monetary Agency (WAMA) within the framework of Joint Surveillance Missions to monitor and evaluate the economic performance of Member States under the Multilateral Surveillance Mechanism. 

  • Finalization of the construction of the ECOWAS Macroeconomic Convergence (ECOMAC) Database.

  • Production of macroeconomic convergence reports to assess the status of Member States on the convergence scale.

  • Production of the Guidelines for the Formulation of the ECOWAS Multi-year Convergence Programme.

  • Effective coordination of the activities of the organs of the ECOWAS Multilateral Surveillance Mechanism, namely: National Coordinating Committees (NCCs), ECOWAS-WAMA Joint Secretariat, Technical Monitoring Committee (comprising senior officials of Ministry of Finance and Directors of Research of Central Banks) and the Convergence Council (consisting of Ministers of Finance and Governors of Central Banks).

  • Capacity building of officials of the National Coordinating Committees and the ECOWAS-WAMA Joint Secretariat.

  • Recruitment of Macroeconomists and Bilingual Secretaries for NCC Secretariats in Member States.

  • Provision of yearly grant or subvention to NCCs.

  • Effective implementation of the Memorandum of Understanding (MoU) between the ECOWAS Commission and WAMI on the Establishment of the ECOWAS-WAMI Joint Task Force on Trade-related Issues of the Monetary Integration Programme of the West African Monetary Zone (WAMZ).

               

Mr. Lassane KABORE
Director

LOGO

GEN. GOWON PRAISED FOR REGIONAL INTEGRATION VISION

  Abuja-Nigeria 31 October 2014
  

LOGO

COMMUNIQUE

  Abuja-Nigeria 30 October 2014
  

LOGO

ECOWAS COMMITTED TO PEACEFUL ELECTIONS IN NIGERIA

  Abuja-Nigeria 29 October 2014
  

LOGO

PRESIDENT OUEDRAOGO LAUDS ECOWAS SOCCER QUEENS

  Abuja-Nigeria 29 October 2014
  

LOGO

ECOWAS ACCREDITS 9 NEW AMBASSADORS, URGES MORE SUPPORT FOR REGIONAL EBOLA RESPONSE

  Abuja-Nigeria 29 October 2014
  

LOGO

ECOWAS COMMENDS FRANCE, GERMANY FOR SUPPORTING REGIONAL INTEGRATION

  Abuja-Nigeria 27 October 2014
  

LOGO

ECOWAS SALUTES NIGERIA, SENEGAL ON EBOLA SUCCESS

  Abuja-Nigeria 24 October 2014
  

LOGO

ECOWAS, AfDB SIGN GRANT AGREEMENT ON EBOLA RESPONSE INITIATIVES

  Abuja-Nigeria 22 October 2014
  

   En Français      In Portuguese      Back      Home  
Created and maintained by the Community Computer Centre (CCC) in collaboration with the Directorate of Communication
Send comments to: webmaster@ecowas.int

Copyright © ECOWAS 2007