ABIDJAN (Reuters) – The West African Economic and Monetary Union has ruled out devaluation for the CFA franc and said it has five months of foreign reserves sufficient to support the currency, Ivory Coast President Alassane Ouattara said on Monday.

Ouattara, the bloc’s current president, was speaking at the end of an extraordinary summit of its seven heads of state in Ivory Coast’s commercial capital Abidjan called to address economic and security concerns.

(Reporting by Ange Aboa; writing by Matthew Mpoke Bigg; editing by Mark Heinrich)