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Multinational - Project to Reform System and Means of Payment in UEMOA Countries - Project Completion Report (PCR)


The Project to Reform Systems and Means of Payment in UEMOA countries was formulated following design and technical studies conducted by a consulting firm and validated by a Committee of International Experts set up by the BCEAO, with the collaboration of the International Monetary Fund and the World Bank. It was to supplement the financial sector reforms undertaken in member countries in the wake of the economic crisis of the early 80s as well as inappropriate macro-economic policies and poor management of banks. Indeed, the implementation of a modern system of payment using cutting-edge technology should contribute to promoting scriptural currency transactions, strengthening banks, extending the regional financial sector and generally, further promoting regional integration, and development of trade and investment within and between member countries in a safe environment that meets basic BIS principles. Earlier on, in 2001, the BCEAO relied on IDA financing to achieve these objectives.

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