Monday, November 3, 2014

ECOWAS Sets 2020 For Use of Single Currency

The Economic Community of West African States has set 2020 as deadline for the use of single currency in the region.

The Head of ECOWAS National Unit, Ghana, Mr. Bonaventure Adjavor, said this on Monday in Calabar, the Cross River State capital, during a meeting of the commission on strategic planning framework for 2016-2020.
ECOWAS Sets 2020 For Use of Single Currency
He said in spite of language difference, French, English and Portuguese, the commission would ensure a single currency note in 2020.

Adjavor who was the chairman of the meeting, said the currency would facilitate the movement of people and communication in the region.

“I do not see language as a barrier to single currency, the process to adopt the currency is ongoing and a new timetable has been set for 2020.

“We need to work towards that and achieve the vision 2020. The move for this currency was agreed by Heads of Government of ECOWAS countries in June 2001 but it was not realized. We have put in place all frameworks to ensure that the single currency note is achieved in 2020,” he said.

Also, the Director of Strategic Planning, ECOWAS Commission, Mr. Essien Abel-Essien, said that the committee was working tirelessly to ensure that single currency note for the region is achieved by 2020.

According to him, after the committee work, the implementation would be largely dwell on the ECOWAS Heads of States.

He said that the meeting was organized to harvest ideas and inputs that would ensure the preparation of strategic documents that reflects the aspiration of ECOWAS vision 2020.

The 2020 vision seeks to create a borderless, peaceful, prosperous and cohesive region, built on good governance.

Essien said, “It will also give people the capacity to access and harness its enormous resources through the creation of opportunities for sustainable development and environmental preservation.

“The 2016-2020 vision is specifically to ensure congruence of purpose and to ensure the effective mobilization and utilization of the region’s abundant resources and comparative advantage.

“It will also provide the general framework for advancing integration work in the region and guiding national development planning process.”
Culled from The Punch

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