Finance Ministers, Governors 'concerned' by decision to rename CFA Eco

Finance and economic ministers and central bank governors in West Africa, including Ghana's Mr Ken Ofori-Atta and Dr Ernest Addison, have taken issue with the recent renaming of the common currency for member countries in the Francophone zone to Eco.

They described the action as a "unilateral" decision that was outside the requirements for the adoption of a proposed common currency for the sub-region, reports Graphic Online’s Maxwell Adombilla Akalaare.

In a communique issued Thursday, January 16 after an extraordinary meeting in Abuja, Nigeria, the Convergence Council of the West Africa Monetary Zone (WAMZ) said it was "concerned" by the December 21, 2019 declaration by Ivorian President, Mr Alasane Outtarra, that the CFA had been renamed Eco -- the proposed single currency that has eluded the ECOWAS region since 1990.

"WAMZ Convergence Council wishes to emphasise that this action is not in line with the decision of the Authority of Heads of State and Government of ECOWAS for the adoption of the Eco as the name of the ECOWAS single currency," the communiqué said.

It was signed by the six finance and economic ministers and the six central bank governors from the six member countries of the WAMZ.

The communiqué also called for an extraordinary meeting of the Authority of Heads of State and Government of WAMZ Member States to be conveyed "soon to further discuss this matter and other related issues."

The communiqué is the first action by Anglophone West Africa to the decision by some of their Francophone peers to rename their currency the Eco.

The announcement by Mr Outtarran in December last year said the change of name would take effect January this year.

Comments

Full History of the living Legend Dag Heward-Mills on Personality Library (Edition 1b)

Dag Heward-Mills was born on the 14 May 1963 to a Swiss mother and Ghanaian father (Nathaniel and Elizabeth Heward-Mills) in London, United Kingdom. He moved with his family soon after his birth to Accra Ghana and has spent his entire life in Ghana. He was converted to Christianity while having his secondary education at Achimota School. He joined Christian youth campaigns such as the Scripture Union as well as the Calvary Road Singers (which later became Harvest Chapel International immediately after his conversion. He proceeding to the University of Ghana Medical School, where he was trained as a medical doctor. He started the Light House Chapel International while still a student in Medical school, having felt a strong call of God to start a church. In his fifth year of Medical School, Dag started the church in a little classroom in the School of Hygiene, Korle-Bu, with no more than 15 members. Amidst persecutions in various forms and with his academic work dema...

Who Kwesi Appiah, Andre Ayew, Juliet Bawuah and Ibrahim Saanie voted for at CAF Awards

Senegal’s Sadio Mane and Nigeria’s Asisat Oshoala were named Men’s and Women’s Player of the Year earlier this week at CAF’s Awards. As always, there has been a clamour to find out who exactly Ghana’s representatives voted for. Here’s a breakdown of which players they backed in this year’s awards. CAF Men’s Player of the Year For this category, voting was divided into two phases. The first phase saw members of the CAF Technical & Development Committee (16), Media Experts (25) and Legends (9) pick their top five candidates from the 30-man shortlist. The totals are calculated with the three players with the highest numbers progressing to the second phase of voting. In the next phase, the Head Coaches or Technical Directors of CAF Member Associations, Captains of CAF Member Associations ranked the top three players – Sadio Mane, Riyad Mahrez and Mo Salah Phase One Ghana’s media reps for Phase One were sports journalist, Juliet Bawuah and former GFA Communica...

Andre Ayew headed out of Swansea?

The future of Swansea City forward André Ayew is growing even more uncertain by the day, with interested clubs on standby after speculation concerning his possible availability. The Ghana International leads the charts for the Welsh side, with 11 goals in all competitions so far this season. With Swansea reportedly experiencing some financial instability following their relegation from the Premier League in 2018, Ayew is one of the names that have popped up on the exit list, due to his very high wages. The likes of Daniel James and Oli McBurnie have all left during that period, together with Jordan Ayew and Wilfried Bony among others have helped to significantly lower the wage bill. Tottenham Hotspurs and Championship leaders Leeds United have been identified as front runners for the Ghana international’s signature. Ayew rejoined Swansea from West Ham United in January 2018, then joined Turkish side Fernerbahce on loan for the 2018/2019 season, before returning to the We...

FRANK ADDO NEWS LIVE

Search This Blog