The Economic Community of West African States (ECOWAS) is set to abandon its plans for a single currency, the ECO, due to political challenges, according to a member of the ECOWAS parliament.
Senator Snowe Junior Reveals Alternative Plan
Senator Edwin Melvin Snowe Junior disclosed that the regional bloc is now proposing a single currency for Anglophone countries and another for Francophone countries, replacing the ECO initiative.
Political Instability Halts Progress
Political instability in the region has halted consideration of the proposals, but Senator Snowe Junior assured that focus would shift back to the issue as soon as possible.
ECOWAS Single Currency Initiative: Background
The ECOWAS single currency initiative has been in discussion for several years, aiming to simplify transactions and promote economic growth in the region. However, the plan has faced political challenges and delays.
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