₦airaland Forum

The ECOWAS Parliament also requested the authority of heads of state and govern 2020 deadline for the establishment of the ECOWAS single currency. According to Sahara Reporters, The Economic Council of West African States (ECOWAS) says the regional bloc will adopt a single currement to take a firm stand regarding compliance with thence starting with selected states in 2020. 170 more words [ click link ]
https://megafetch.com/just-in-ecowas-to-adopt-single-currency-in-2020/

No b only Economic Council

I see America donlap Trump trying to stop these. single currency will be the end for dollar value in West Africa they try all that is in their power to stop gadaffi of Libya from achieving these his dream let me see how they will stop ECOWAS

Aromos:
I see America donlap Trump trying to stop these. single currency will be the end for dollar value in West Africa they try all that is in their power to stop gadaffi of Libya from achieving these his dream let me see how they will stop ECOWAS

Stop what?
If Rich Europe Euro currency did not end the dollar, is it the currency of poor African countries that
is going to end it?

Im not sure Nigeria will go along with it. Nigeria likes it multiple exchange rates and is willing to manipulate its currency when it needs to. There's a reason CBN wont let currency float and introduces forex restrictions. When you enter into a monetary union you sacrifice control.

Maybe the Francophone countries wont mind since they're used to their currency being controlled by external powers.

Xisnin:
Stop what?
If Rich Europe Euro currency did not end the dollar, it is the currency of poor African countries that
is going to end it?

at least it will weaken it a little moreover not only ECOWAS is talking about single currency The Commonwealth debated about it last year

It is a good thing for ECOWAS, I pray it works

Lets be foreal this deadline will be pushed back. Are they ready to print out millions of currency notes and coins. I'm skeptical about the resolve of member states. I think they give themselves more time.

Buhari will never sign it oh.
So it can only happen after 2023.

Blue3k:
Lets be foreal this deadline will be pushed back. Are they ready to print out millions of currency notes and coins. I'm skeptical about the resolve of member states. I think they give themselves more time.

It isn't realistic and the Euro debacle too can set in. The Euro was made to order for Germany with it pristine fiscal and especially it's monetary discipline of never allowing inflation to wander above 2%.

For many of the other Euro countries, the adoption of the Euro was loose monetary policy and this made many banks go on a lending which eventually resulted in disaster

The francophone countries have very low inflation. I remember a country having a inflation rate of 1%.

It will only make sense once all countries have low budget deficits and inflation rate not more than 5%.

Anyway, I know it ain't happening unless countries are still allowed to keep their home currencies

Aromos:
at least it will weaken it a little moreover not only ECOWAS is talking about single currency The Commonwealth debated about it last year

Weaken what? When you produce nothing.