• Short Summary

    The first summit conference of the West African Monetary Union (UMOA) opened in Lome, capital of Togo on Friday (11 October), to discuss the location of the Union's Central Bank (BCEAO) and its affiliated Development Bank (BOAD).

  • Description

    The first summit conference of the West African Monetary Union (UMOA) opened in Lome, capital of Togo on Friday (11 October), to discuss the location of the Union's Central Bank (BCEAO) and its affiliated Development Bank (BOAD).

    The session, attended by the heads of state of the six member countries - Ivory Coast, Dahoms, Upper Volta, Niger, Senegal and Togo - was also to name the government of the two institutions.

    Opening the conference, President Gnassingbe Eyadema of Toga said that members had to take "a few fundamental decisions without which the functioning of the new institution could be hampered". He stressed that the structures established by the conference would have to be able to adapt to a repidly changing situation, in view of the problems of world inflation.

    President Felix Houphouet-Boigny of the Ivory Coast thanked the French authorities for their assistance in establishing the Development Bank, which he called "this priviliged growth instrument."
    The Monday Union's Central Bank will be established in Dakar, capital of Senegal, whilst the Development Bank will be situated on Lome. the names of the governors of both organisations were to be announced later.

  • Tags

  • Data

    Film ID:
    VLVA1TCKD9WFW5D7GRRE2S8PR2IL0
    Media URN:
    VLVA1TCKD9WFW5D7GRRE2S8PR2IL0
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    16/10/1974
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:00:58:00
    Time in/Out:
    /
    Canister:
    N/A

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