The BCEAO has applauded Senegal for its transparency following the Court of Accounts report, which indicates significant public debt and a budget deficit. Governor Jean-Claude Kassi Brou highlighted the importance of the government’s openness and their commitment to reforms. He emphasized the BCEAO’s role in supporting member states and ensuring regional stability, while also assuring that political events in neighboring countries will not jeopardize overall economic stability.
The Central Bank of West African States (BCEAO) has lauded Senegal for its transparency following the recent Court of Accounts report. During a press briefing in Dakar, Jean-Claude Kassi Brou, the BCEAO Governor, analyzed the economic conditions presented in the report, which indicated a public debt at 99.67% of GDP and a budget deficit of 12.3%. Despite these critical figures, the governor praised the Senegalese authorities for their openness in disclosing this information.
Brou noted, “The authorities have ensured complete transparency so that everyone is aware of the evaluation that has been conducted.” He emphasized that these data are taken into consideration for economic analysis to facilitate appropriate support from the BCEAO. Furthermore, he acknowledged the Senegalese government’s dedication to enacting reforms to tackle economic issues, stating, “The authorities have committed to moving forward with reforms to correct what has not worked well.”
He reiterated the BCEAO’s important role in supporting its member states, emphasizing, “As a central bank, our role is to assist states, and we do so for all countries.” Additionally, Brou conveyed the importance of monetary solidarity within the West African Economic and Monetary Union (UEMOA), explaining that when one member state encounters difficulties, the others provide necessary support to maintain regional stability.
Brou also addressed the prospective presidential election in Côte d’Ivoire set for October, assuring that it does not present a substantial threat to the economic stability of the Union. He expressed his assurance that the election would likely not adversely affect the financial environment of the region. Despite the unsettling economic statistics, the BCEAO remains confident in Senegal’s means to navigate these challenges effectively through proper reforms and continued institutional support.
In conclusion, the BCEAO’s commendation of Senegal’s transparency highlights a critical governance quality during challenging economic times marked by significant public debt and budget deficits. Governor Jean-Claude Kassi Brou’s remarks on the necessity of reforms and collaborative support among member states underscore a proactive approach to economic resilience in West Africa. His confidence in the stability amidst political transitions further reinforces the BCEAO’s mandate to foster economic cohesion and stability within the region.
Original Source: www.senenews.com
