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Marcel De Souza Calls for measured pace in the creation of the ECOWAS Common Currency
The panel of the meeting


Some  participants

Bamako, 15 September 2017. The President of the Commission of the Economic Community of West African States (ECOWAS), Marcel de Souza, has appealed for an unhurried creation of the West African common currency.

He made this appeal in Bamako, Mali on 14 September 2017, at the opening ceremony of the 10th ordinary meeting of the ECOWAS Convergence Council.

Speaking to finance ministers, central bank governors and technical experts of the ECOWAS Macroeconomic Policy Committee, de Souza stated that an immediate transition to the single currency would present grave consequences for the sub-region.

He requested that finance ministers serve as the regional organisation’s advocates in their respective countries, in order to create an enabling environment for the implementation of the ECOWAS monetary cooperation programme.

He noted with satisfaction the significant strides in the coordination of monitoring activities and the production of the sub-region’s macroeconomic convergence reports.

Subsequently, Mali’s Minister for Economy and Finance, Dr. Boubou Cissé, spoke on the need to enhance the multilateral surveillance mechanism, while ensuring regular meetings of the organ.

He called on his counterparts to support and come alongside the Presidential Task Force through detailed monitoring and efficient implementation of the roadmap.

Group Photo

He recalled the numerous challenges that remain to be met, particularly the multiple currencies in the region, a major impediment to the creation of a common market.

To achieve the assigned goals, Cissé evoked the need for real and thorough diagnosis to identify poor performance so that such can be addressed.

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