The work of the annual review of policy reforms, programmes and projects of the West Africa Economic and Monetary Union (WAEMU) has ended at the Grand Hotel in Bamako, PANA learned on Friday from a reliable source.
The meeting was held under the chairmanship of the Secretary General of the Malian Ministry of Economy and Finance, Zalimatou Sidibé Cissé
Mandated by the Heads of State and Government of the Union to implement their vision of regional integration, the WAEMU Commission has since its inception undertaken reforms to be implemented by governments of Member States.
According to a source close to the WAEMU Commission in Bamako, the assessment of the implementation of reforms as of December 31, 2012 showed that member states implemented 54% of institutional reforms, 70% of policies and programmes for the promotion of the common market and only 44% of sectoral reforms.
The decision to institutionalize the review followed poor implementation of reforms in WAEMU, which are expected to have an impact on competitiveness, economic growth, macroeconomic balances and more generally on the deepening of the regional integration process.
In their efforts aimed at boosting integration, the Heads of State and Government of WAEMU, on 24 October, 2013 adopted the additional act aimed at institutionalizing the review process that began last July in Member States.
The review, which began on Wednesday in Bamako was aimed at taking stock of the situation with the relevant technical departments and assessing the implementation of community measures such as additional acts, regulations, decisions and directives adopted by the bodies of the Union.
The outcome of the work will be reported to the Heads of State and Government and guidelines taken into account in order to boost the implementation of reforms.