Central Bank of Nigeria, Research Department
Eco-currency, Business growth, West Africa, ECOWAS
This paper shall examine the pros and cons of adopting the ECO in the WAMZ. The introduction of the ECO has the potential of enhancing trade within the WAMZ member states in the medium to long-term. However, the quest for a common currency must be driven by economic fundamentals, rather than political expediency. Consequently, there is need to ensure macroeconomic convergence and homogeneity of the financial and product markets before the ECO is introduced.
Nnanna, O. J. (2004).The eco currency, expectations and business growth in West Africa . Economic and Financial Review, 42(1), 34-53