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Towards A Single Monetary Zone In The Ecowas Sub-Region: A Progress Report, S. E. Omoruyi
Towards A Single Monetary Zone In The Ecowas Sub-Region: A Progress Report, S. E. Omoruyi
Economic and Financial Review
The call for a common currency for the West African sub-region has been considered generally as a veritable vehicle for achieving the primary objective of establishing exchange arrangements for free intra-regional payments. Such arrangements are deemed necessary to promote faster growth of intra-regional trade, and thereby foster economic development in the ECOWAS sub-region. Pursuant to this objective, the Authority of the Heads of State and Government of ECOWAS took a decision that studies be commissioned on the possibility of creating a single monetary zone in ECOWAS sub-region. Following that decision, the Committee of Governors of Central Banks of ECOWAS at …