BCEAO releases $ 6 billion for West African economies

The BCEAO has just made a liquidity injection of 3350 billion FCFA ($ 6 billion) at a fixed rate of 2% in favor of several banks of the UMOA. A total of 87 financial institutions participated in the operation. The Central Bank of West African States (BCEAO) made a further injection of liquidity to its member countries last week. In total, 3350 billion FCFA ($ 6 billion) were disbursed by the institution.

During the auction on September 14, 87 banks in the sub-region obtained an injection of liquidity at a fixed rate of 2%. With more than 1000 billion FCFA ($ 1.8 billion), it is the Ivory Coast which obtained the most important financing, ie 31% of the funds injected.

It is followed by Senegal with more than 580 billion FCFA ($ 1 billion), Mali with 466 billion FCFA (835 million $), Benin with 434.5 billion FCFA (777 million $) and Burkina Faso with 318 billion FCFA. ($ 569 million). Niger with 241.6 billion FCFA ($ 432 million), Togo with 219 billion FCFA (…

Pension reform: the France government will use 49.3

This choice was announced on Saturday by Prime Minister Edouard Philippe. It is the first time that the majority resulting from the election of Emmanuel Macron uses it. Edouard Philippe announced on Saturday his choice to use article 49.3 of the Constitution to validate without vote the ordinary bill on the pension reform, disputed in the street for three months. 

Pension reform: the France government will use 49.3
"After having obtained the authorization of the Council of Ministers on February 29, I decided to engage the responsibility of the government on the bill establishing a universal pension system. Not to end the debate but to end this episode of non-debate, "said the Prime Minister in the National Assembly where the ordinary bill has been under debate since February 17."

It is the first time that the majority resulting from the election of Emmanuel Macron uses this procedure, considered as a form of brutality by the opposition of right and left. 49.3 was last used in 2016 in connection with the labor law.

The left opposition immediately announced its intention to table a government censure motion, which however has no chance of being adopted. She has 24 hours to do it.

The use of "49.3" was considered for several days in view of the stagnation of debates in the National Assembly on the bill whose eighth article, out of a total of 65, was examined on Saturday after nearly two weeks of discussions chopped, weekends included. Nearly 41,000 amendments have been tabled to this text, more than half of which come from La France insoumise which demands the withdrawal of the disputed text in the street.

The use of 49.3 was necessary given the slowness of the debates caused by the "obstruction" of the opposition of the rebels and the communists, argued the majority. "Fortunately possible, unfortunately probable", had declared to Reuters upstream of the government decision the deputy LaRem Roland Lescure, president of the commission of the Economic affairs.

The organic law relating to the organization of pension schemes within the framework of the future system will be examined by the deputies according to the normal procedure. Nearly 1,800 amendments have been tabled to this text, which has five articles.

The government supports a final adoption "before the summer". The reform plans to merge the 42 existing pension plans into one "per point". The government, which defends a "fairer" and "more readable" system, has always advocated a vote on the texts at first reading before the municipal elections of March 15 and 22 with a view to final adoption "before the summer" .

Since the beginning of December, the reform has been the subject of numerous days of strikes and national demonstrations, the last of which took place last Thursday. In addition to the parliamentary debate, the social partners will have to find, by the end of April within the framework of a "financing conference", alternatives to the establishment of a pivotal age at 64 - alternatives capable of guaranteeing a balance financial system in 2027.