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 (…

In the event of loss of income, how can you get ahead with your bank?

We often tend to say that the world of finance is a jungle. Even pushing the metaphor further, we could also consider that it is better to keep an ant rather than an ostrich to avoid trouble. But even a good family manager can see their budget crumble when the economy gets involved.
In the event of loss of income, how can you get ahead with your bank?

To limit the damage, you must react quickly. The worst possible reaction is to accumulate debts for several months before your banker ends up calling you to order.

Instead, take the lead. Your first reflex should be to contact your bank branch, as soon as you anticipate a drop in income, in order to explain your situation to them. In this way, you will be able to obtain an easing of the management of your current account.

Exceptional direct debits which could have led to additional costs may therefore be authorized in exceptional cases. It may also be wise to negotiate a temporary increase in the limit of your authorized overdraft, the time to pass this difficult course. This will save you from squeezing your budget a little more with prohibitive agios.

Some online banks also allow you to make the change on your own, from your personal space. Finally, if you have outstanding credits in your bank, you can request a postponement or a downward modulation of the maturities. This type of provision is provided for in most contracts.