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ECOWAS prepares for ECOBASE launch

29 May 2014, 09:44

Abuja - The Economic Community of West African States (ECOWAS) is set to launch the Common Operationalization Database (ECOBASE) for implementation by Member States.

The scheme is scheduled for launch at a four-day meeting which opens in Bamako, Mali on Friday.
According to a statement from the regional body office in Abuja, the database has been endorsed by regional Ministers in charge of Statistics and adopted by the Council of Ministers last December, is in line with the ECOWAS Commission’s quest to harmonize statistical information required for economic decision-making, policy formulation and regional integration.
The statement added that the Bamako meeting would bring together representatives of the 15 ECOWAS Member States’ central banks, Ministries of Finance and National Offices of Statistics in charge of data management.

This will be preceded by a four-day workshop of representatives of regional institutions the West African Monetary Agency (WAMA), West African Monetary Institute (WAMI), ECOWAS and UEMOA Commissions as well as resources persons.
The objectives of the meeting include acquainting national experts with the use of ECOBASE in Microsoft ACCESS format and the methodology for data collection and management.

The statement said the meeting would also validate the user guide and propose a time-table for the installation of the database and capacity building in Member States.
According to ECOWAS Director of Research and Statistics, Mahamadou Yahaya, the operationalization and implementation of the common economic, financial, monetary and social database (ECOBASE) will facilitate the timely update of regional multilateral surveillance database and reduce the difficulties often encountered by Member States in reporting statistics to regional institutions.

He said this will in turn facilitate monitoring of macroeconomic convergence and contribute to development and regional integration.

- CAJ News

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