To Establish a
Common Central Bank with a Single Currency for the Economic Prosperity
of the West African
Monetary Zone
General
Principles
As a transtitional
measure, WAMI shall carry out functions leading to
the establishment of the WACB without prejudice to
the responsibility of the competent authorities of
the Member States to conduct their monetary
policies.
Establishment
The West African
Monetary Institute (WAMI) established under the
Agreement of the West African Monetary Zone shall
perform its functions and
carry out its
activities in accordance with the WAMZ Agreement.
The members of the WAMI shall be the central banks
of the Member States (National Central Banks).
Objectives
The WAMI in
collaboration with the Technical Committee shall
have the responsibility of managing the stages of
implementation of the WAMZ up to the commencement of
the WACB.