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ECOWAS To Roll Out A Single Currency For It Mrmbers In 2020

The Economic Community of West African State (ECOWAS) has revealed that it is ready to roll out a single currency for states that within the union.




The economic union said it has adopted a revised roadmap for accelerating the use of the common currency by 2020.


The Presidential Taskforce on ECOWAS Single Currency Programme made the revelation at Accra, Ghana, on Wednesday, March 13, 2019 whiles they had their 5th meeting.
The Taskforce re-affirmed the political will to meet the deadline by 2020.
Late last year, the United Nations Economic Commission for Africa said the attainment of all macroeconomic criteria by the ECOWAS states may be unattainable before the 2020 deadline for the commencement of the region’s single currency agreement.
However, the Chairman of the Presidential Task Force on the ECOWAS Single Currency, Nana Addo Dankwa Akufo-Addo and his members have assured the union that the rollout will take effect in 2020.

Additionally, the Taskforce re-affirmed the gradual approach where member states which attained the convergence criteria, could start the monetary union while the other countries joined later.
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