The Economic Community of West African States (ECOWAS) has said it is
working very hard to make sure the introduction of a common currency is
attain by 2020.
working very hard to make sure the introduction of a common currency is
attain by 2020.
The regional economic bloc has on countless occasions held-back to
commencement dates for the implementation of the single currency but
Commissioner for Macroeconomic Policy and Economic Research at the
ECOWAS Secretariat, Dr Kofi Konadu Apraku assured a high-level Technical
Working Group on the ECOWAS Single Currency meeting in Accra that
everything is being done to avoid another postponement.
commencement dates for the implementation of the single currency but
Commissioner for Macroeconomic Policy and Economic Research at the
ECOWAS Secretariat, Dr Kofi Konadu Apraku assured a high-level Technical
Working Group on the ECOWAS Single Currency meeting in Accra that
everything is being done to avoid another postponement.
The meeting is being attended by representatives of eight central
banks from the sub-region, officials of finance ministries, West Africa
Monetary Initiative, Economic Commission for Africa and ECOWAS
Commission officials.
banks from the sub-region, officials of finance ministries, West Africa
Monetary Initiative, Economic Commission for Africa and ECOWAS
Commission officials.
The two-day meeting is to validate and review the final Study Report
of the United Nations Economic Commission for Africa on the ECOWAS
Single Currency programme.
of the United Nations Economic Commission for Africa on the ECOWAS
Single Currency programme.
The experts will also asses and evaluate progress made by ECOWAS
member countries in meeting the convergence criteria for the single
currency.
member countries in meeting the convergence criteria for the single
currency.
Although Dr. Apraku admitted that the project had been on the drawing
board for almost three decades, he said there is renewed interest and
enhanced political by the current ECOWAS leadership to ensure the new
2020 deadline is met.
board for almost three decades, he said there is renewed interest and
enhanced political by the current ECOWAS leadership to ensure the new
2020 deadline is met.
“This profound interest has led to the establishment of the
Presidential Task Force to oversee the accelerated implementation of the
monetary integration programme and to ensure the realisation of the
single currency by 2020,” he added.
Presidential Task Force to oversee the accelerated implementation of the
monetary integration programme and to ensure the realisation of the
single currency by 2020,” he added.
culled:footprint2africa
