Veep urges WAMZ bank governors to push for common currency

Vice President Paa Kwesi Bekoe Amissah-Arthur would on Thursday meet Central Bank Governors of the West Africa Monetary Zone (WAMZ) to fine tune measures to facilitate the achievement of a common currency..

Mr Felix Kwakye-Ofosu, a Deputy Minister of Information and Media Relations, announced this during the daily media briefing at the Flagstaff House, Kanda on Thursday.

He said the governors are in Accra to attend the 32nd meeting of Council of Ministers and Governors of Central Banks of West African Monetary Zone.

Mr Kwakye-Ofosu said English speaking countries in West Africa, namely Gambia, Ghana, Liberia, Nigeria and Sierra Leone had been working for some years now to form a monetary union to help facilitate the use of a single currency, the Eco, among member countries.

He said the countries are of the view that a common currency would help promote vibrancy in their economies.

Mr Kwakye-Ofosu said the meeting would discuss strategies that would enhance the integration of the West Africa sub-region.

The meeting is yet another step that would propel that agenda into fruition in the coming years, he said.

Mr Kwakye-Ofosu, said the event would provide the opportunity for participants to consider the convergence criteria and timelines that would enhance the pursuit of the common currency agenda.

He said the Vice President, who was a former Governor of the Bank of Ghana, had special interest in the achievement of the common currency initiative.

Mr Kwakye-Ofosu said the Vice President’s involvement in the transaction would speed up the agenda and further facilitate the integration of the continent.

Source: GNA