ECOWAS should rule on single currency by 2020- Ouattara

Ivorian President Alassane Ouattara has said West African nations who meet the criteria to join the single currency should do so by 2020.

Outtara said this after meeting French President Emmanuel Macron in Paris on Tuesday.

“Countries that are ready, such as countries in the West African Monetary Union (WAMU) zone that are ready and have made significant efforts in terms of good management, good governance, deficit control and debt control, will probably be ready in 2020. It will be up to the heads of states of this zone to take a decision, it is not for me to say”, the Ivorian President said.

ECO, will be the name of a single currency for members of the Economic Community of West African States (ECOWAS).

The single currency was first proposed 3 decades ago to help boost cross border trade and economic development.

Last month, the 15 member states of ECOWAS adopted the ECO in Nigeria and its launch is scheduled for 2020.

The sub-regional body has already acknowledged that the target date is unlikely. But they have pledged to push forward.

AFP