WAMZ Recommends Extraordinary Meeting Of Ecowas On Eco

Thursday, January 17, 2019  / 07.40AM / WAMZ / Header Image Credit:  The Markets Online

The West African Monetary Zone,WAMZ has recommended an extraordinary session of the Economic Community of West African States Heads of Government, to discuss critical issues around the single currency.

This was the resolution at the end of the meeting of Ministers of Finance and Central Bank Governors in the Sub-region on January 16, 2020.

The WAMZ meeting which held in Abuja, Nigeria applauded the decision of 8 West African French speaking countries, to delink the CFA.

WAMZ however noted with concern the unilateral decision taken by President Alasane Quattara of Cotedvoire and Chairman of the Authority of West African Economic Monetary Union (WAEMU ) on December 21, 2019 to rename CFA Franc as "ECO" by 2020.

The WAMZ reiterated the importance for all ECOWAS members to adhere to the decision of the Authority of Heads of State and Government towards the revised roadmap of the single currency program.

It said the decision on the "ECO" currency was not in line with the decisions of the Authority of Heads of State and Government of Ecowas for the adoption of the single currency.

The WAMZ meeting was under the Chairmanship of Hon. Mamadi Camara, Minister of Economy and Finance, Republic of Guinea.

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