Gambia: Are the Countries Constituting the Wamz Making Progress?

26 September 2024
FOROYAA Newspaper (Serrekunda)

Five countries in West Africa make up the West Africa Monetary Zone (WAMZ). The desire is to establish a single currency. But the five countries that make up WAMZ, namely, The Gambia, Sierra Leone, Ghana, Nigeria and Guinea are supposed to meet four primary criteria before moving onto the next stage.

The four criteria are:

1. Limited inflation

2. Limited budget deficit ratio to GDP

3. Central Bank financing of budget deficit

4. Floor on foreign exchange reserve

The unstable electricity supply does not permit us time to put data together to show that progress is not being made.

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