ECOWAS reiterates commitment to single currency

 ECOWAS member states have reiterated commitment towards achieving single currency.  They made the commitment at the 9th statutory meeting of the ECOWAS Convergence Council and Macroeconomic Policy Committee meeting in Abuja. The committee, which comprised of the sub-region’s Finance Ministers and Governors of Central Bank, had said that the current economic realities in West Africa […]

 ECOWAS member states have reiterated commitment towards achieving single currency. 

They made the commitment at the 9th statutory meeting of the ECOWAS Convergence Council and Macroeconomic Policy Committee meeting in Abuja. The committee, which comprised of the sub-region’s Finance Ministers and Governors of Central Bank, had said that the current economic realities in West Africa have slow down efforts to achieving single currency. 

ECOWAS president, Marcel de Souza, said though there were certain obstacles but the commission remained resolute towards achieving full integration. 

Souza, who was represented by Mahmodou Traore, ECOWAS Commissioner for Microeconomic Policy, assured that the roadmap for achieving single currency would not go beyond 2020. The Deputy Minister for Economic Management, Ministry of Finance and Development Planning, in Liberia, Mr. Alvin Attah, urged the members of the council to ensure the successful implementation of the Multilateral Surveillance Mechanism in their respective countries.

“The launch of the Single Currency must be achieved in a timely manner within the framework of ECOWAS Vision 2020,” he said.