West African bloc’s 2020 single currency goal fails

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The 15-nation West African bloc ECOWAS told regional leaders Tuesday that the goal of establishing a single currency among their economies in 2020 had failed.

Photos: Buhari attends ECOWAS meeting in Niamey

“The roadmap has not been implemented vigorously,” Marcel de Souza, president of the ECOWAS Commission, told a summit in Niamey, the capital of Niger.

“We cannot move to the single currency in 2020,” he said.

Four goals had been set down for introducing a single currency but “there are not the results to match,” de Souza said.

“From 2012 to 2016, none of our countries has been able to persistently uphold the prime criteria in the programme for macro-economic convergence,” he said.

The summit aims at assessing progress towards a single regional currency 30 years after the goal was first sketched.

ECOWAS — the Economic Community of West African States — was set…



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