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ECOWAS To Implement Common Currency In West Africa – Official by Nobody: 2:47pm On Dec 08, 2015 |
Mr Kalilou Traore, ECOWAS Commissioner for Industry and Private Sector Promotion, has said that the commission is committed to implementing a single currency in West Africa by 2020. Traore told newsmen in Lagos on Tuesday that the commission was fast-tracking processes toward ensuring the implementation of the single currency within the period. He said that there were several political and technical implications to be considered during the formulation process that would guarantee the achievement of the policy. “More states have to comply with some macroeconomic criteria like inflation, budget deficit, currency stability; without this, if we set up a common currency, it will fail.” He said that through the common currency, the commission hoped to support the regional economy to be more integrated and have a strong exchange among member states. According to him, frameworks for formulating regional automotive, pharmaceutical and agriculture industry programmes are part of processes toward achieving success of the common currency. He said central bank governors of member states met yearly to analyse and review the level of progress of the currency process ahead of the implementation time. The implementation of ECOWAS single currency was initially scheduled for Jan.1 with West African Monetary Institute setting out 10 criteria for the attainment of the goal. The institute set out four primary convergence criteria and six secondary convergence criteria to achieve the goal. The primary criteria are single-digit inflation rate at the end of each year and fiscal deficit of not more than four per cent of Gross Domestic Product among member states. Others are central bank deficit-financing of no more than 10 per cent of the previous year’s tax revenue and gross external reserves that guarantee import cover for a minimum of three months. www.vanguardngr.com/2015/12/ecowas-to-implement-common-currency-in-west-africa-official/ 3 Likes 2 Shares |
Re: ECOWAS To Implement Common Currency In West Africa – Official by tpiar: 2:48pm On Dec 08, 2015 |
Na wa o. End times. 17 Likes |
Re: ECOWAS To Implement Common Currency In West Africa – Official by madgoat(m): 2:48pm On Dec 08, 2015 |
good |
Re: ECOWAS To Implement Common Currency In West Africa – Official by benedictnsi(m): 2:49pm On Dec 08, 2015 |
I just hope that our "NAIRA" will not be the currency Cos D money no get much swag again........ 11 Likes |
Re: ECOWAS To Implement Common Currency In West Africa – Official by lirusehn(m): 2:55pm On Dec 08, 2015 |
AmALilgodSoDontQuoteMe: 1 Like |
Re: ECOWAS To Implement Common Currency In West Africa – Official by chris4gold(m): 2:58pm On Dec 08, 2015 |
one out of millions plans of Muhammed Gadafi of Libya. 24 Likes |
Re: ECOWAS To Implement Common Currency In West Africa – Official by Nobody: 2:59pm On Dec 08, 2015 |
Ok |
Re: ECOWAS To Implement Common Currency In West Africa – Official by dmostcheerful(f): 3:28pm On Dec 08, 2015 |
end time currency 12 Likes |
Re: ECOWAS To Implement Common Currency In West Africa – Official by Nobody: 3:44pm On Dec 08, 2015 |
Gosh.. why? Personally i'm cool with my Nigerian Naira 9 Likes 1 Share |
Re: ECOWAS To Implement Common Currency In West Africa – Official by Kyase(m): 4:13pm On Dec 08, 2015 |
tpiar:Good, Christians well come with their conspiracy theory now. Just watch out. In ........ 7 Likes |
Re: ECOWAS To Implement Common Currency In West Africa – Official by free2ryhme: 4:14pm On Dec 08, 2015 |
spiritfada: i have been hearing this gist since secondary school story story 17 Likes 1 Share |
Re: ECOWAS To Implement Common Currency In West Africa – Official by MadCow1: 4:14pm On Dec 08, 2015 |
Nooooii |
Re: ECOWAS To Implement Common Currency In West Africa – Official by allanphash7(m): 4:14pm On Dec 08, 2015 |
Which Nigeria money my brother? Nigeria has no money ooo coolsix: 26 Likes
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Re: ECOWAS To Implement Common Currency In West Africa – Official by Smartresult(f): 4:14pm On Dec 08, 2015 |
Not |
Re: ECOWAS To Implement Common Currency In West Africa – Official by free2ryhme: 4:14pm On Dec 08, 2015 |
No to single currency. That is the reason Europe is sinking now and the Euro is on free fall for the past one year. Greece's problem has affected the entire eurozone and still affecting. They may be able to absorb the shock but West Africans cannot 16 Likes |
Re: ECOWAS To Implement Common Currency In West Africa – Official by kennydee05(m): 4:14pm On Dec 08, 2015 |
I have been hearing about this news for over 7 years ago. So to me it is not news anymore. |
Re: ECOWAS To Implement Common Currency In West Africa – Official by Rikidony(m): 4:15pm On Dec 08, 2015 |
Nooo I don't support this, if a euro style of economic crisis occur Nigeria will be called on to rescue the smaller nations out. |
Re: ECOWAS To Implement Common Currency In West Africa – Official by Nobody: 4:15pm On Dec 08, 2015 |
What's happening to me? Immediately I saw the thread title something just started singing "Gbese re o" in my head. Is there any song that goes by that title Na nairalander sing am? And the beat sweet o. Na MrsPhyno produce am? |
Re: ECOWAS To Implement Common Currency In West Africa – Official by Bevista: 4:15pm On Dec 08, 2015 |
As commendable as that may sound, there are a lot of nuances that could really undermine the whole region. The Eurozone, whose banking institutions are a lot more developed than West Africa still runs into problems on how to institute fiscal discipline among member countries. If certain economies within the bloc performs poorly, that could really undermine the currency and other well performing countries within the bloc. Greece and other peripheral countries in the Eurozone nearly collapsed the Euro. I strongly doubt that stronger economies within the region will allow the single currency to be implemented, excepted they will have the power to sanction erring member countries. 2 Likes |
Re: ECOWAS To Implement Common Currency In West Africa – Official by lonelydora: 4:16pm On Dec 08, 2015 |
Good one. Let no religious person come here and say 666. |
Re: ECOWAS To Implement Common Currency In West Africa – Official by Fabrolistic: 4:16pm On Dec 08, 2015 |
Who owns this credit? Click like for buri body language. Click share for Gej's legacy. |
Re: ECOWAS To Implement Common Currency In West Africa – Official by Agbalanze(m): 4:16pm On Dec 08, 2015 |
I hate to sound like this, but if true... Its an END TIME policy! 5 Likes |
Re: ECOWAS To Implement Common Currency In West Africa – Official by daveP(m): 4:16pm On Dec 08, 2015 |
Stupid reason given. The beast isnt far from surfacing truly endtime currency 4 Likes |
Re: ECOWAS To Implement Common Currency In West Africa – Official by yousee(m): 4:17pm On Dec 08, 2015 |
Naira go be like British Pounds wey England no gree change to Euro. We no go join them too when them change to Wafru abi na WAD...west African dollar 1 Like |
Re: ECOWAS To Implement Common Currency In West Africa – Official by scholes23(m): 4:17pm On Dec 08, 2015 |
if the currency will have berra value. #supported |
Re: ECOWAS To Implement Common Currency In West Africa – Official by demarc001: 4:18pm On Dec 08, 2015 |
One world currency is getting close. Signs of the EnD TimE! 5 Likes |
Re: ECOWAS To Implement Common Currency In West Africa – Official by datguru: 4:18pm On Dec 08, 2015 |
End time |
Re: ECOWAS To Implement Common Currency In West Africa – Official by dave2meek(m): 4:19pm On Dec 08, 2015 |
I have no option than to join the shout End time crew now 1 Like |
Re: ECOWAS To Implement Common Currency In West Africa – Official by Sunnycliff(m): 4:19pm On Dec 08, 2015 |
For the first in NL I have to say END TIME!!! 4 Likes |
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