Thursday, January 17, 2019  / 07.40AM / WAMZ / Header Image Credit:  The Markets Online

The West African Monetary Zone,WAMZ hasrecommended an extraordinary session of the Economic Community of West AfricanStates Heads of Government, to discuss critical issues around the singlecurrency.

This was the resolution at the end of the meetingof Ministers of Finance and Central Bank Governors in the Sub-region on January16, 2020.

The WAMZ meeting which held in Abuja, Nigeriaapplauded the decision of 8 West African French speaking countries, to delinkthe CFA.

WAMZ however noted with concern the unilateraldecision taken by President Alasane Quattara of Cotedvoire and Chairman of theAuthority of West African Economic Monetary Union (WAEMU ) on December 21, 2019to rename CFA Franc as "ECO" by 2020.

The WAMZ reiterated the importance for all ECOWASmembers to adhere to the decision of the Authority of Heads of State andGovernment towards the revised roadmap of the single currency program.

It said the decision on the "ECO"currency was not in line with the decisions of the Authority of Heads of Stateand Government of Ecowas for the adoption of the single currency.

The WAMZ meeting was under the Chairmanship ofHon. Mamadi Camara, Minister of Economy and Finance, Republic of Guinea.

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