From 2020, there will
be one currency for selected member states of the Economic Council of West
African States (ECOWAS). This was revealed by Moustapha Niasse, chairman of the
National Assembly of Senegal at the ECOWAS seminar. The seminar focused on the challenges
and prospects of creating the common currency for ECOWAS The Economic Community of West
African States (ECOWAS) declared that the regional bloc would start a single
currency, starting with some Member States in 2020. Moustapha Niasse, chairman
of the Senegal National Assembly, disclosed at the ECOWAS seminar where
Jean-Claude Kassi Brou, ECOWAS chairman and Moustapha Cisse Lo, chairman of the
Community Parliament, participated, reports from Sahara Reporters.
The meeting
focused on the challenges and prospects associated with the creation of the
common ECOWAS currency. Moustapha said: "The single currency will enable
the abolition of trade and monetary barriers, lower transaction costs and will
lead to economic activity in the region." The speaker called on all
interested parties to reflect the roadmap on the single currency. Parliament
also demanded that the Heads of State and Government firmly adhere to the 2020
deadline for the establishment of a common ECOWAS currency.
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