ECOWAS Single Currency to debut in 2020 with select countries vanguardngr.com vanguardnews
Rising from a three-day today seminar in Dakar, the Senegalese capital on the “Challenges and prospects of the ECOWAS single Currency,” the Speaker of the ECOWAS Parliament Moustapha Cisse Lo said that the people of ECOWAS have a fervent desire to have a single currency to facilitate trade and promote integrated economic development.
According to Cisse Lo, recommendations from the forum will be forwarded to the highest authority of ECOWAS through the President of the ECOWAS Commission.“I urge you, once again to continue in your respective parliaments to advocate for the adoption of this currency that will strengthen our political, economic and cultural development.”
“Parliament also needs to complement the effort of the ECOWAS Commission to ensure effective monitoring of the implementation of the single currency and intercede with member states to ratify d implement protocols and decisions relating to the single currency,” he added. According to the forum, “to ensure the sustainability of the ECOWAS single currency, it is key to continue efforts to harmonize monetary and budgetary policies. This requires the strengthening of the multilateral surveillance mechanism through greater involvement of Central Banks and Finance Ministries.”
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