The Economic Community of West Africa (ECOWAS) appears uncertain about it's 2020 deadline for the introduction of a common single currency for the region.
ECOWAS...
What's behind the new push to introduce a West African single currency, the Eco? A statement by Ghana's finance minister indicates Accra may be making one last attempt to realise this elusive goal.
The Association of African Central Banks is warning the goal of attaining a single currency status in West Africa will be a mirage. It believes the only solution to the problem is by diversifying the economies of the various countries in the Wet African Monetary Zone.
Various attempts by West Africa to introduce a common currency known as the ECO has suffered various setbacks with the recent one being the outbreak of Ebola in three member countries. It is currently unclear if the countries will now meet the convergence criteria for the currency to take off in 2020.
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