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Problems Of Monetary And Financial Integration In Ecowas, S. E. Omoruyi

Economic and Financial Review

The paper examines the problems of monetary and financial integration in the ECOWAS sub-region. It traces the origins of these problems to the post-colonial era when sentimental attachment to issues of sovereignty, development of national currencies and the imposition of payments restrictions took their roots. Given the background of these problems, the paper makes a number of recommendations, such as the need to adopt a common currency and more realistic exchange rates, for forging greater monetary co-operation in the sub-region.