Mali: ECOWAS Common Database launched

Bamako, Mali (PANA) - The ECOWAS common economic, monetary and financial database (ECOBASE) was launched for operationalisation and implementation by member states at a ceremony in Bamako, Mali, Friday, according to the ECOWAS Commission.

ECOBASE is designed to harmonise regional statistical data for monitoring of macroeconomic convergence and facilitate economic development and regional integration, it said.

ECOWAS Commission President Kadre Desire Ouedraogo told representatives of member states and Regional Institutions at the ceremony marking the opening of a four-day meeting that the database would assist member states in the generation and transmission of relevant statistics in various sectors of public finance, balance of payment, national accounts, prices and other information required by regional institutions.

“It (ECOBASE) will also help to strengthen national and regional capacities in the management and reporting of statistics,” said the President, who was represented by the Commissioner for Macroeconomic Policy and Economic Research, Dr. Ibrahim Bocar Ba.

He assured that the Commission would provide member states with necessary support to ensure the effective and efficient operationalisation and implementation of the database.

In his address of welcome, Mr. Seydou Moussa Traore, Director-General of Mali’s National Institute for Statistics and Chairman, Council for National Economic Policy, described the ECOBASE as the fruit of a long process of consultation at various levels for the advancement of regional multilateral surveillance and monetary union.

He said the database covers not just the key economic sectors, but also constitutes a platform for the region to take into account the other relevant multilateral surveillance statistics.

For his part, ECOWAS Director for Research and Statistics Mahamadou Yahaya explained that the database as an economic tool seeks to ensure timely update and harmonisation of statistics at national and regional levels through coordination and collaboration of national and regional institutions.

The Bamako meeting is being attended by representatives of the 15 ECOWAS member states’ Central Banks, Ministries of Finance and National Offices of Statistics in charge of data management.

It was preceded by a four-day workshop of representatives of regional institutions (the West African Monetary Agency (WAMA), West African Monetary Institute (WAMI), ECOWAS and UEMOA Commissions), as well as resources persons.
-0- PANA SEG 31May2014

31 may 2014 08:20:52




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