Members of the West African Financial Zone (WAMZ) on Thursday condemned in robust phrases the choice by the French-speaking West African states to unilaterally rename the CFA Franc as “Eco” by 2020.
Their concern was raised on the Further-Odd Assembly of the Ministers of Finance and Economic system and Governors of the Central Banks of member states of the WAMZ Convergence Council held in Abuja.
The assembly held underneath the Chairmanship of Honourable Mamadi CAMARA, Minister for Economic system and Finance of the Republic of Guinea and hosted by Nigeria’s Minister of Finance, Funds and Nationwide Planning, Zainab Ahmed.
Amongst different issues, the Council really useful an Extraordinary Summit of the Authority of Heads of State and Authorities of the WAMZ Member States be convened quickly to debate this matter and different associated points.
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In keeping with a communique issued on the finish of the discussions and browse by Ahmed, “the assembly famous with concern, the declaration by His Excellency, Alasane
Outtarra, Chairman of the Authority of Heads of State and Authorities of the West African Financial and Financial Union (WAEMU) on December 21, 2019 to unilaterally rename the CFA Franc as “Eco” by 2020.
“WAMZ Convergence Council needs to emphasise that this motion is just not according to the selections of the Authority of Heads of State and Authorities of ECOWAS for the adoption of the “Eco” because the identify of an impartial ECOWAS Single Forex.
WAMZ Convergence Council re-iterated the significance for all ECOWAS member nations to stick to the selections of the ECOWAS Authority of Heads of State and Authorities in the direction of the implementation of the revised roadmap of the ECOWAS Single Forex Programme.
Current on the Assembly have been the Ministers of Finance and the Economic system and Governors of Central Banks of the member States of the West African financial Zone together with:
Mambury Njie, Minister of Finance and Financial Affairs, Republic of The Gambia; Ken Ofori Atta, Minister of Finance of the Republic of Ghana; Mamadi CAMARA, Minister of Economic system and Finance of the Republic of Guinea;
Samuel D. Tweah Jr, Minister of Finance and Growth Planning of the Republic of Liberia.