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Lowering the cost of payments and money transfers in UEMOA (Inglês)

This policy note had two principal objectives: the first is to identify opportunities for and barriers to reducing the cost of money transfers between and within West African Economic and Monetary Union (UEMOA) member countries. The second objective is to identify means of further extending the reach of modern payment services and promoting access to basic transactional services to a much broader cross section of the population than the current user base. Lowering cross-border transaction costs in any monetary block or trade corridor is an important step in encouraging greater trade and enhanced use of formal financial services. The eight UEMOA countries use a common currency, the CFA Franc (FCFA). The currency is controlled and issued by the region's central bank, BCEAO. Additionally, UEMOA has a common modern payments infrastructure, which ought to facilitate widespread access to basic transactional payment instruments and transmission circuits.


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    Musuku, Thilasoni Benjamin Malaguti, Maria Chiara Mason, Andrew McEwen Pereira, Ceu

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    Western Africa,

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    Lowering the cost of payments and money transfers in UEMOA

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