How can one find about these WAUAs ? Does anyone have the e-mail address
and/or phone number of the body running this service?
>From: Madiba Saidy <[log in to unmask]>
>Reply-To: The Gambia and related-issues mailing list
><[log in to unmask]>
>To: [log in to unmask]
>Subject: West African travellers cheques launched
>Date: Fri, 2 Jul 1999 11:54:12 -0700
>
>FREETOWN, July 1 (Reuters) - Travellers cheques denominated in West
>African Units of Account (WAUA) officially went on sale on Thursday in the
>Economic Community of West African States (ECOWAS), the West African
>Monetary
>Agency (WAMA) said.
>
>ECOWAS covers 16 countries -- Benin, Burkina Faso, Cape Verde, Gambia,
>Ghana, Guinea, Guinea-Bissau, Ivory Coast, Liberia, Mali, Mauritania,
>Niger,
>Nigeria, Senegal, Sierra Leone and Togo.
>
>The WAUA will follow the value of the Special Drawing Right and the
>cheques will be in denominations from five to 100 WAUA.
>
>George Osaka, WAMA director of research and operations, told Reuters
>that WAMA's Freetown headquarters would set an exchange rate against the
>various West African currencies once every two weeks. The cheques would
>then be
>exchangeable around the region at that rate for two weeks.
>
>Banks will be allowed to make a spread of a maximum of one percent
>around the rate when buying or selling the cheques but will not be allowed
>to
>charge commission, according to central bank officials in the region.
>
>There has been wide publicity for the cheques in Freetown this week and
>campaigns have been launched in certain other ECOWAS countries.
>
>The cheques were not available in banks in Abidjan, and publicity
>campaigns in Ivory Coast and the other seven CFA franc countries had been
>delayed for technical reasons, an official at their common central bank,
>the
>Dakar-based BCEAO, said.
>
>ECOWAS officials see the travellers cheque as a step towards monetary
>union and are hoping that they will stimulate regional trade.
>
>12:27 07-01-99
>
>Copyright 1999 Reuters Limited.
>
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