Tag: ECOWAS
-
ECOWAS leadership urges speedy resolution of Nigeria-Benin border closure
The leadership of the Economic Community of West Africa States (ECOWAS), has urged the committee established to resolve the issues that led to the sub-region’s biggest economy, Nigeria, closing its borders with Benin, to speed up its work. A communique issued after the 56th Ordinary Session of ECOWAS Authority of Heads of State and Government…
-
Dr. Addison casts doubt on new Eco common currency adoption strategy
Governor of the Bank of Ghana, Dr. Ernest Addison, has suggested that the strategy for the adoption of the eco, as a common currency for the West Africa sub-region, could fall short again. Dr. Addison speaking at last Friday’s Monetary Policy Committee’s press conference in Accra stated that adoption of the common currency must be…
-
ECOWAS not ready for ECO currency in 2020—Prof. Quartey
Economist Professor Peter Quartey is of the view that ECOWAS is not ready for the common currency, ECO, which is scheduled to start circulating next year. Prior to the commencement of the circulation of the currency, ECOWAS member states are expected to meet common criteria comprising primary and secondary ones. Though the Heads of State…
-
January 2020 roll out date for Eco ‘tentative’ – Peter Quartey
The announcement by the Heads of State of ECOWAS on the adoption of a common currency, the ECO, is rather a declaration of intent than action. That is the position of the Director of the Economics Division at the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey. He has therefore urged the…
-
ECOWAS adopts Eco as single currency for sub-region
Beginning in January 2020, countries within the West African sub-region will be able to use a single currency called ECO. The currency was adopted by the Authority of ECOWAS Heads of State and Government on Saturday in Nigeria’s capital Abuja. The West African leaders endorsed the currency at their 55th Ordinary Session and approved a…
-
ECOWAS partners EU on combating piracy and maritime criminality
The Commission of Economic Community of West African States (ECOWAS) has developed measures to intensify effort towards combating piracy and other maritime criminality with the support of development partners. A statement from the Commission said development partners such as the European Union (EU), United Nations Office on Drugs and Crime (UNODC), and the governments…
-
Ecowas set to adopt common measuring instruments to harmonise standards
Plans to harmonize standards of measurement of products manufactured and consumed within the West African region have seen some progress. This follows the drafting of a document for the calibration and verification of measuring instruments. Countries within the ECOWAS region that agree to sign the document will be expected to use the same instruments recognized…
-
Stakeholders call for better collaboration to ensure success of ECOWAS Brown Card Scheme
Stakeholders in the insurance sector in the West African Sub-region have called for greater collaboration amongst the different ECOWAS Brown Card secretariats to ensure prompt payment of claims. 37 years after the signing of the ECOWAS Brown Card Insurance Scheme Protocol, some players have raised concerns about the difficulty in settling claims under the ECOWAS…
-
Mixed expectations meet new date for Eco (Audio)
There are mixed expectations over Ghana’s ability to meet the new implementation date for the West African common currency, the Eco. The country is racing against time to meet the 2020 timeline. The dream for a single currency has continuously failed to materialize as the deadline for implementation has been postponed several times to 2020.…
-
ECOWAS pushes for standards among member states
The Economic Community of West African States (ECOWAS) has commenced the standardization of some electronic appliances to harmonize trading activities among member countries. The standardization which focuses on air conditions and refrigerators will see to the easy import and export of these gadgets within the fifteen ECOWAS member countries. The move is also aimed at…