Burkina Faso has assumed the presidency of the Council of Ministers of the West African Economic and Monetary Union (WAEMU), with its Minister of Economy and Finance, Aboubakar Nacanabo, appointed to lead the Council for a two-year term.
The announcement was made at the close of the third ordinary session of the Council held in Dakar on Monday, October 6, with outgoing Ivorian President of the Council, Adama Coulibaly, presiding over the session.
In his closing remarks, Mr. Coulibaly praised “the quality of the discussions” and expressed gratitude to his peers for “the commitment and sense of responsibility” demonstrated throughout the meeting.
He highlighted key decisions adopted during the session, including the multilateral surveillance implementation report for the first half of 2025 and the economic policy guidelines for 2026.
According to the outgoing President, these measures will provide “reliable information on the economic and financial performances” of member states and guide public policy more effectively.
A notable milestone of the session was the approval of a harmonized survey on household living conditions across all WAEMU member states. “This instrument aims to establish a common survey model across the entire Union, in order to ensure the comparability of indicators relating to changes in living conditions,” Mr. Coulibaly explained.
The Council also certified the annual accounts of the WAEMU Financial Market Authority for 2024 and approved adjustments to the Regional Council for Public Savings and Financial Markets’ tariffs, incorporating deposit and consignment funds.
Passing the torch to his successor, Mr. Coulibaly extended his “warm congratulations” to Aboubakar Nacanabo, assuring him of the Council’s full support. In his acceptance remarks, Mr. Nacanabo praised “the exemplary leadership” of his predecessor, highlighting his “rigor, availability and collegiality.”
He affirmed that the Burkinabe presidency “will be resolutely committed to continuity and consolidation of achievements.”
“Our commitment to WAEMU remains total and unwavering. We will continue to give the best of ourselves so that our Union continues its march forward, in the service of development and the well-being of the populations,” Mr. Nacanabo declared.
Cheikh Diba, Senegalese Minister of Finance, also paid tribute to Mr. Coulibaly, lauding “his availability and high sense of responsibility” and his efficient stewardship of the Council.
The session concluded in a spirit of consultation and solidarity, reaffirming member states’ commitment to deepening regional economic integration and consolidating macroeconomic stability across the Union.
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