West African experts discuss regional single currency

The Technical Committee on the Economic Community of West African States (ECOWAS) Single Currency Program met on Thursday in Guinea Bissau to define the concept of “Majority of Member States” within the framework of the Macroeconomic Convergence and Stability Pact among ECOWAS member states.

The experts also discussed amendments to the legal texts relating to creation and management of the special fund for the financing of the program of the revised roadmap of the ECOWAS single currency.

In her remarks, Ms. Massandjé Toure-Liste, commissioner for economic affairs and agriculture of the ECOWAS Commission, whose speech was read by Mambury Njie, special advisor to the president of the ECOWAS Commission, implored the members of the technical committee to engage in frank, direct and constructive discussions, while keeping in mind the solidarity spirit that will lead to consensus on the definition of the “Majority”.

While opening the meeting, Dr. Carfa Embaló, the chairman of the technical committee, urged the committee members to observe the community spirit that characterizes them in all their actions so that they can work towards a consensus on all the issues submitted to them for deliberations.

The Macroeconomic Policies Technical Committee meeting was held ahead of the meeting of the Ministerial Committee on the ECOWAS Single Currency Programme (ECOWAS Convergence Council) scheduled for Friday in Guinea Bissau.