The governor of the Bank of Central African States (BEAC), Yvon Sana Bangui, was elected president of the African Central Banks Association (ACBA) on November 28 in Yaoundé, Cameroon. He succeeds the governor of the central bank of Mauritius, Priscilla Muthoora Thakoor.
The Governor of the BEAC was appointed head of the ABCA, which brings together 41 central banks, during the 47th annual meeting of the governors of this continental institution, organized around the theme ” Climate Change and Macroeconomic Stability: The Role of Central Banks .” ” I will base my mission on a single priority: the project to operationalize the African Monetary Institute ,” declared Yvon Sana Bangui, specifying that this is a fundamental step in the implementation of a project dating back some twenty years.
This institute, whose creation is planned for 2026, will be responsible, among other things, for conducting economic and statistical studies, monitoring the macroeconomic convergence criteria of African countries in order to prepare for the creation of the African central bank and the monetary union of the continent.
Alongside the ABCA’s annual meetings, a symposium was held in the Cameroonian capital, bringing together forty central bank governors. The BEAC governor stated that such a mobilization ” reflects the central banks’ commitment to building an economically and monetaryly sovereign Africa .”
He also stated that he was aware of the immensity of his task as president of the ABCA. ” It is a great responsibility. I believe that with everyone’s contribution, we will be able to meet the challenges. It is together that we will bring about the structural transformations to the reforms undertaken by the ABCA ,” he said.
Participants at the Yaoundé meeting addressed several issues, including those related to African monetary cooperation, bank supervision and stability, and the role of central banks in mitigating the impacts of climate change. They decided to integrate the issue of climate change into central bank macroeconomic policies.
