TradeInvest Africa (Cape Town)
23 June 2009
Plans for a West African Monetary Zone (WAMZ) have been pushed back due to the global economic downturn, reports Reuters.
Member states Nigeria, Gambia, Ghana, Guinea and Sierra Leone revised a December 2009 deadline for establishing a monetary union, while the deadline for establishing a common central bank has been pushed back from January 2010 to June 2014.
The WAMZ states remain dedicated to plans to introduce a common currency by 2015, which would initially compete with the CFA franc.
Be the first to Write a Comment!
Copyright © 2009 TradeInvest Africa. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
