OUAGADOUGOU – In a statement that clarifies Burkina Faso’s stance on regional economic communities, Aboubakar Nacanabo, the Burkinabè Minister of Economy and Finance, confirmed on Sunday that Burkina Faso will continue to be a part of the West African Monetary Union (UMOA). This announcement comes amidst discussions about the country’s membership in regional organizations.
According to Burkina Information Agency, Nacanabo articulated the reasons behind Burkina Faso’s decision to remain within the UMOA, contrasting it with its departure from the Economic Community of West African States (ECOWAS). The minister pointed out that ECOWAS had strayed from the principles of its founding fathers, which influenced Burkina Faso’s decision to withdraw from the community. “The reasons which pushed us to leave ECOWAS have been clearly expressed, it is the fact that ECOWAS has truly departed from the ideals of its founding fathers,” Nacanabo stated during the interview with AIB.
Moreover, Nacanabo highlighted concerns over ECOWAS being influenced by external forces, suggesting that such manipulation did not align with Burkina Faso’s vision for regional cooperation. “We have also noted that ECOWAS is at times manipulated by foreign powers. We believe that this way of operating does not correspond to our vision,” he added.
Despite these issues with ECOWAS, the minister expressed satisfaction with the UMOA, indicating no similar grievances had arisen within this monetary union. “As far as UMOA is concerned, until now, we have not had these same complaints. So we remain a member of UMOA,” Nacanabo affirmed. This statement reinforces Burkina Faso’s commitment to the UMOA and the FCFA zone, distinguishing its relationship with UMOA from its stance on ECOWAS.