West Africa’s Eco currency plan remains a pipe dream ...Egypt

Since its conception in 2003, leaders of the fifteen-member Economic Community of West African States (ECOWAS) have postponed the launch of a single currency at least four times: In 2005, 2014, 2014, and 2020. ECOWAS leaders had set a goal of achieving a monetary and currency union by late 2020. However, the COVID pandemic and the failure of many countries to meet the criteria for launching the single currency precipitated the postponement to 2027. The criteria included curbing inflation, budget deficits, and their financing, reserves, and exchange rate stability. Another criterion that these countries have been unable to meet is the debt-to-Gross Domestic Product (GDP) ratio. John Garchi Ga

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West Africa’s Eco currency plan remains a pipe dream ...Egypt

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