The United Nations Economic Commission for Africa said the attainment of all macroeconomic criteria by ECOWAS states maybe unattainable before the 2020 deadline for the commencement of the region’s single currency agreement.
An Economist from ECA West Africa, Amadou Diouf, said many of the countries are yet to meet the macroeconomic convergence criteria for a single currency set up by the ECOWAS and the West African Monetary Agency.
Some primary criteria to be achieved by each member country include single-digit inflation rate at the end of each year and the fiscal deficit of not more than three per cent of the GDP.
Ghana, Niger and Nigeria have been put in charge to advocate for this monetary agenda.
