MONROVIA – Barely days after turning over the chairmanship of the West African Bureau of the Association of African Central Bank Governors to the Governor of the Central Bank of Guinea, Executive Governor J. Aloysius Tarlue, Jr. of the Central Bank of Liberia was preferred as Chairman of the Committee of Governors of the West African Monetary Zone (WAMZ), taking over the gavel of authority from Prof. Kelfala M. Kallon, Governor of the Bank of Sierra Leone.
Executive Governor Tarlue’s ascendancy to the chairmanship of the Committee of Governors of West African Monetary Zone (WAMZ) brings to two, the number of regional economic bodies that he currently chairs, including the Committee of Governors of ECOWAS Member States of West African Monetary Agency (WAMA).
In his keynote address, Executive Governor Tarlue updated his colleagues about the adverse economic effects of COVID-19 within the West African Monetary Zone and the policy measures pursued to help reverse the situation.
According to Executive Governor Tarlue, the timeline for the roadmap has now been extended from 2021 to 2027, at which time the West African single currency will be launched.
A New Central Bank Developmental RoleExecutive Governor Tarlue urged his fellow central bank governors to consider a potential new central bank role of financing structural and developmental initiatives, with a view to diversifying revenue sources and minimizing the periodic pressures on monetary policy.