Institut d'Émission des Départements d'Outre-Mer
The Institut d'Émission des Départements d'Outre-Mer (IEDOM, lit. 'Institution of Issue for Overseas Departments') is a French public bank of issue that serves overseas departments and overseas communities, namely Guadeloupe, Guyana, Martinique, Mayotte, Réunion, and Saint-Pierre-et-Miquelon. The applicable regulations stipulate that the IEDOM acts "in the name, on behalf of and under the authority of the Bank of France", and the IEDOM has self-described as a "delegated central bank".[1]
Overview
[edit]Before World War II, monetary issuance in France's overseas territories was carried out by chartered private banks, namely the Banque de la Guadeloupe in Pointe-à-Pitre, Banque de la Guyane in Cayenne, Banque de la Martinique in Fort-de-France, and Banque de la Réunion in Saint-Denis. They were substituted in the 1940s by the Caisse Centrale de la France Libre, renamed Caisse Centrale de la France d'Outre-Mer in 1944 and Caisse Centrale de Coopération Économique in 1958, which issued French francs in Guadeloupe, Guyana and Martinique, and CFA francs in Réunion and also in Saint-Pierre-et-Miquelon.
The IEDOM was established in 1959 to serve Guadeloupe, Guyana, Martinique, and Réunion, still issuing CFA francs in the latter. On 1 January 1975, the French franc replaced the CFA franc in Réunion. IEDOM subsequently extended its scope of activity to Saint-Pierre-et-Miquelon in 1978, and Mayotte in 1999.
In 2016, new legislation transformed the IEDOM into a joint-stock company (French: société par actions simplifiée) fully owned by the Bank of France. The change became effective on 1 January 2017.[2]
The chief executive (French: président) of IEDOM is appointed by the governor of the Bank of France.
Leadership
[edit]Ivan Odonnat, an official from the Bank of France, was appointed chief executive of the IEDOM in April 2023, replacing e Marie-Anne Poussin-Delmas.[3]
See also
[edit]References
[edit]- ^ "Institut d'émission des départements d'outre-mer: Delegated central bank for the French overseas departments and territories" (PDF). IEDOM. 2015.
- ^ "IEDOM becomes a subsidiary of the Banque de France". FaxInfo. 2016.
- ^ "Ivan Odonnat nommé président de l'IEDOM et Directeur général de l'IEOM" (PDF). IEDOM. 4 April 2023.