Expedite Efforts At Achieving Single ECO By 2027- Bawumia Charges WAMZ

Vice President Mahamudu Bawumia has called on member states in the West African Monetary Zone (WAMZ) to expedite efforts in meeting primary and secondary convergence criteria required for macroeconomic stability within the region.

Speaking at the 50th Convergence Council Meeting of WAMZ Meetings held in Accra, Dr Bawumia stated that the inability of member states to improve and sustain performances on convergence criteria remains a challenge to the Sub-region’s quest to attain a single ECOWAS currency, the ECO, by January 2027.

No member country has yet met the four primary convergence criteria, which include inflation, budget deficit, public debt, and central bank financing, posing a challenge to the Sub-region’s goal.