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Tuesday, November 04, 2014

ECOWAS sets 2020 as new deadline for single currency




The Director, Strategic Planning at the Economic Community of West African States (ECOWAS), Mr. Essien Abel-Essien has revealed that the year 2020 is now a new date set for a single currency take off, reports DigitalSENSE Business News.

Just as the Head, Ghana office of ECOWAS and the Commission Chairman on strategic planning framework for 2016-2020, Mr. Bonaventure Adjavor, reaffirmed this, urging member states to set aside language differences in the region to ensure a single currency note in 2020.

Adjavor DigitalSENSE Business News gathered said at the end of their strategic meeting in Nigeria that the currency would facilitate the movement of people and communication in the region.

Further, Abel-Essien said that the committee was working tirelessly to ensure that single currency note for the region is achieved by 2020.

Upon completion of their work, Abel-Essien said, the implementation of the decision would largely rest on the ECOWAS Heads of States. Stressing that the meeting was organized to garner ideas that would make certain the preparation of strategic documents reflects the aspiration of ECOWAS vision 2020.

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

Additionally, Abel-Essien pointed out that 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.

This, he said, will also provide the general framework for advancing integration wok in the region and guiding national development planning process.



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