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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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