Since the outbreak of the Middle East conflict on February 28, 2026, the economies of the West African Economic and Monetary Union (UEMOA) have faced new pressures, particularly on energy prices, transport costs, and public finances. To anticipate and measure these repercussions, the UEMOA Commission has set up a specific monitoring mechanism. Kouakou Hyppolite Konan, Director of Multilateral Surveillance at the UEMOA Commission, explained that the President of the UEMOA Commission instructed the Economic Monitoring Committee (COVEC) to set up a mechanism to monitor the evolution of the situation and assess its consequences on the economies of member states. An ad hoc committee was created under the auspices of the COVEC, bringing together representatives from all departments of the Commission, with a presidency and secretariat provided by the Department of Economic Policies (DPE). This committee carries out regular monitoring and analysis work, producing weekly sheets presenting the main developments of the conflict, their consequences on the international economy, and their potential or observed repercussions within the UEMOA space. To date, 31 sheets have been produced in 29 weeks of conflict. They are examined and validated every week by the COVEC Bureau, chaired by the President's Chief of Staff. In addition, the committee prepares monthly summary reports, submitted for validation by all members of the COVEC. The reports covering the period from March to August 2026 are already available. This device allows the Commission to have an updated reading of economic developments and to identify risks that could affect member states. More than seven months after the start of the conflict, the most significant economic consequences for UEMOA countries include disruptions in global markets for energy and several strategic raw materials. Concerns about the security of oil and gas supplies, particularly due to persistent tensions in the Strait of Hormuz, have fueled significant volatility in prices. Before the conflict, about 30% of global oil and gas trade passed through this maritime route. Beyond hydrocarbons, logistical disruptions and geopolitical tensions also affect strategic products such as fertilizers. This situation exacerbates inflationary risks, concerns related to food security, and the prospects for a slowdown in global economic activity. The International Monetary Fund (IMF) reduced its global growth forecasts to 3.0% for 2026, down from 3.4% in 2025, based on the hypothesis of an end to the conflict by mid-June or the end of June. However, the conflict continues, which could lead to new revisions of economic forecasts. In addition, the rise in interest rates contributes to increasing the debt service burden. In sub-Saharan Africa, the consequences are mainly manifested by the increase in energy and transport costs, disruptions to supply chains, and the risks of rising food prices and agricultural inputs. These developments pose threats to food security and macroeconomic stability. According to the United Nations report on food security published on July 21, 2026, more than 500 million people could still suffer from chronic hunger by 2030, with Africa expected to be the most affected region. In the UEMOA space, the most visible manifestation of the conflict remains the rise in fuel prices at the pump. Except for Niger, all member states have carried out upward adjustments to take into account the increase in supply costs. Some countries have even had to make two revisions. These increases have had repercussions on other sectors, particularly transport and financial services. Thus, the annual inflation rate stood at 1.3% in August 2026, compared to -1.6% at the same period last year. However, despite this acceleration, the average inflation rate for the year 2026 should remain below the community ceiling of 3%. The conflict also exerts pressure on the public finances of member states. Governments have been forced to incur additional expenditures to mitigate the effects of the rise in international prices. Measures have notably been taken to contain the cost of fertilizers and ensure the smooth running of the 2026-2027 agricultural campaign. States have also mobilized subsidies on petroleum products to prevent passing on the full increase in global prices to consumers. These interventions are important to protect the population, but they also represent an additional budgetary effort. Despite a difficult international environment, the economies of the UEMOA remain resilient and dynamic. For more than a decade, the UEMOA has been among the most dynamic economic zones in the world, with a growth rate that regularly hovers around 6%, or even above. Even during the health crisis of the Covid-19 pandemic, the Union recorded positive growth of 1.3% in 2020, while several major global economies entered recession. This ability to resist constitutes an asset against current external shocks. However, one must remain vigilant, because the persistence of geopolitical tensions and their consequences on international markets could weigh on economic activity. The next multilateral monitoring report, expected in December 2026, will allow us to have updated data provided by member states and better assess the economic prospects of the Union. In the face of these challenges, the UEMOA Commission has highlighted several priorities to strengthen the resilience of member states. The first concerns the protection of the most vulnerable populations. When necessary, states must be able to adopt temporary measures aimed at limiting the effects of the rise in energy and food prices on household purchasing power. The second priority concerns energy supply security. It is essential to strengthen national storage capacities in order to build sufficient safety reserves to prevent the risk of shortages. A third axis concerns agricultural inputs, particularly fertilizers. We must work to secure their supply, particularly by considering mechanisms for mutualizing purchases between member states. Such an approach could help reduce costs and limit the vulnerability of our economies to disruptions in international markets. Finally, it is essential to continue the budgetary consolidation efforts undertaken in recent years. The preservation of macroeconomic stability remains a crucial condition for enabling states to cope with external shocks while maintaining the foundations of sustainable growth. If the Middle East conflict were to continue further, the already observed economic consequences could be amplified, both at the global level and in the UEMOA space. We could witness a more pronounced slowdown in economic growth, a new rise in prices, and an aggravation of budget deficits. For UEMOA member states, these risks are all the more worrying since our economies must already face other major challenges, notably the security crisis and the effects of climate change. The persistence of geopolitical tensions, the fragmentation of the global economy, the disruptions of supply chains, and the volatility of energy and raw material prices could further weaken economic activity. To this is added the risk of a tightening of financing conditions, which could limit the budgetary maneuverability of states. This is why we must remain particularly attentive to the evolution of the international situation, while continuing the efforts aimed at strengthening the resilience of our economies. We also hope that the ongoing diplomatic initiatives will lead to a durable resolution of the conflict.