Eco Currency: Ghana Urges Ecowas Members To FastTrack Adoption

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Sunday, December 29, 2019 / 05.00 PM / Ghana Government / Header Image Credit: All Africa

 

In the wake of the decision of eight french-speaking West African countries to adopt the "Eco" sub-regional currency, Ghana has urged other member states to speed up the process of implementing the decisions of the Authorities of Ecowas.

 

The decisions according to the Ghanaian government include;

  • Adopting a flexing exchange rate regime 
  • Instituting the framework for the Ecowas Central Bank
  • Ensuring that Ecowas member states achieve the single currency objective.

 

The Ghanaian government applauded the decision of the eight countries to discontinue the use of the CFA franc, which showed the commitment to the West African monetary union and the larger agenda of regional integration. 

 

Speaking further on the development Ghana believed it will help to remove trade barriers, reduce transaction costs, boost economic activities in the region and improve the standard of living of people in the West African sub-region.

 

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