Liberia Hosts High-Level ECOWAS Statutory Meetings to Deepen Regional Financial Integration

MONROVIA, LIBERIA: Liberia has taken center stage in West Africa’s financial integration agenda by hosting the Joint ECOWAS Statutory Meetings, bringing together the region’s top financial policymakers, central bank governors, regulators, and technical experts to find a sustainable path to guide monetary integration across West Africa.

The high-level meetings, convened by the ECOWAS Commission, kicked off on Wednesday, February 4, in Monrovia and will run through the 13th. The initiative is held in collaboration with key regional financial institutions, including the West African Monetary Agency (WAMA), the West African Monetary Institute (WAMI), and the West African Institute for Financial and Economic Management (WAIFEM).

The sessions aim to strengthen regional financial stability, harmonize supervisory frameworks, and advance preparations for deeper monetary integration.

The opening day sets the tone for cooperative activities. The forum provides a critical platform for regulators to assess cross-border risks, share supervisory experiences, and coordinate policy responses in an increasingly interconnected financial landscape.

Delivering the keynote address, Executive Governor of the Central Bank of Liberia (CBL), Henry F. Saamoi, reaffirmed Liberia’s strong commitment to regional integration, financial resilience, and harmonized regulatory standards.

He emphasized that in the current global financial system, effective cross-border supervision is no longer optional but a core requirement for safeguarding financial stability.

"As financial institutions expand beyond national borders, coordinated supervision and information sharing among regulators are essential to managing systemic risks," Governor Saamoi noted.

For his part, the Director General of the West African Institute for Financial and Economic Management, Dr. Baba Yusuf Musa, urged the gathering to invest in training programs and deepen partnerships with international institutions such as the International Monetary Fund (IMF) and the World Bank.

According to Dr. Musa, equipping policymakers and regulators with modern analytical tools remains vital to navigating evolving macroeconomic and financial challenges in the region.

"Discussions at the College of Insurance Supervisors centered on strengthening insurance regulation ahead of the proposed ECOWAS single currency," he noted.

Diplomats say Liberia’s hosting of the Joint ECOWAS Statutory Meetings underscores the country’s increasingly active role in advancing ECOWAS financial sector objectives.

The move also indicates Liberia's determination to reinforce regional cooperation, support institutional reform, and contribute to efforts aimed at achieving sustainable economic growth and long-term financial stability across West Africa.

As the meetings continue over the coming days, participants are expected to adopt key recommendations that will shape the future of regional supervision, monetary cooperation, and economic integration within the sub-region.