• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent’s Food Security
    Ghana & Nigeria to Improve Cross-Border Trade
    Tanzania Seeks to Reach New Record Cashew Production by 2025
    Nestle Nigeria Capitalized Rural Women to enable Financial Capacity and boosting Standard of Living
    World Trade Organization published…Trade plays an Important facet in Access to Medical, Goods and Services
    African Development Bank Group President Calls for More Partnerships to Build Africa’s Social Infrastructure
    Ghana, Key Stakeholders: Sign a Renewable Energy Agreement Worth US$69.88 Million to Improve Access and Socio-Economic Development
    Africa Development Bank Approves $1.5 Billion Facility to Counter Food Crisis on the Continent
    Sh32 Billion of Phase 2 of Second Container Terminal of the Kenya Ports Authority at the Port of Mombasa is finished off and…commissioning in June of 2022
    Africa Green Growth Readiness Assessment: Reveals Africa Growing Political Commitment to Green Growth, Report

    Economic Community of West African States (ECOWAS) Parliament approves consensus of accomplishing a Solitary Currency for the Sub-Region as it approved the draft on the Macroeconomic Convergence and Stability

    Posted On 12 Jun 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 10

    By Abdul Rahman Bangura–

    ECOWAS Parliament
    Photo Credit: Facebook

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The ECOWAS Parliament on June 10th, 2021 propelled a notch closer toward fulfilling a single currency for the sub-region as it adopted the draft resolution on the Macroeconomic Convergence and Stability Pact.

    The agreement, which was approved at the culmination of its First Ordinary Session in Abuja, was a significant overture to accomplishing the norms for Member-States’ adoption of the single currency – the ECO.

    This following thought at Plenary on the recommendations by its Joint Committee on Macro-Economic Policy and Economic Research and Committee on Administration, Finance and Budget. The resolution, which would be conveyed to the Commission, strived to confirm macroeconomic policy coordination with the objectives of securing a
    doable economic and monetary union same, strengthening macroeconomic equilibrium.

    In the manifestation, the Joint Committee, chaired by Kebba Barrow, brought out that the agreement shall be carried out in two stages.

    He explained that the resolution also pursued to bolster the convergence of Member States’ economies, including monetary and financial cooperation. He expanded that, it also shall interpret the protocols for the adoption of as well as the modalities for implementation of national convergence programmes.

    Barrow remarked, the first phase which shall concentrate on convergence is to run from January 2022 to December 2026 while the second phase will center on stability run from January 1, 2027.

    Thus, additional resolutions adopted by Parliament rimmed on matters such as deliberation on the political situation in Mali, discussions on the post-election situation in Benin, Burkina Faso, Cote D’ Ivoire, Ghana, Guinea and Niger.

    They also contained Trade, Customs and Free Movement as well as rules for the management and award of ECOWAS mark of conformity to ECOWAS standards.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    Africa Export-Import Bank (Afreximbank) Backs African Organization for Standardization (ARSO) in the Harmonization of African Automotive Standard

    Next Story

    A Chinese at a Mining Operation in Northern Sierra Leone detonated, for attempting to stab a Sierra Leonean Employee with a large pointed rod

    10 Comments

    1. Kojo June 12, 2021 at 1:51 am Reply

      This ECO coming currency is going to be the greatest gift for our sub region. Time over due. Accra Ghana. Kojo

    2. Sade June 12, 2021 at 1:55 am Reply

      ECOWAS need to expedite ECO currency for our region. Sade in Lagos, Nigeria

    3. Alieu June 12, 2021 at 1:57 am Reply

      Thank you for the report. We cannot wait to dump the franc. Dakar Senegal. Alieu

      • New Africa Business News, Staff Correspondent June 12, 2021 at 2:09 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Lamine June 12, 2021 at 1:59 am Reply

      Time for the common currency. Guinea Conakry. Lamine

      • New Africa Business News, Staff Correspondent June 12, 2021 at 2:09 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Frank June 12, 2021 at 2:02 am Reply

      Great report. Thank you, Bangura and thank you other team members. Frank in Oslo, Norway

      • New Africa Business News, Staff Correspondent June 12, 2021 at 2:08 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    6. Yaw June 12, 2021 at 2:07 am Reply

      Thank you for the newsletters. We all waiting for ECO currency and this currency be control be ECOWAS Countries not France. Kumasi in Ghana. Yaw

      • New Africa Business News, Staff Correspondent June 12, 2021 at 2:08 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent's Food Security

    Posted On 24 Jun 2022

    Ghana & Nigeria to Improve Cross-Border Trade

    Posted On 21 Jun 2022

    Tanzania Seeks to Reach New Record Cashew Production by 2025

    Posted On 16 Jun 2022

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    New Africa Business News Award Medalist of Excellence as Africa's President of the Year 2020-2021 meets the Heads of his Ancestors on March 17th, 2021 Samia Suluhu Hassan divulged

    Posted On 20 Mar 2021

    New Africa Business News, Person of the Year 2020-2021, Goes to Dr. Arikana Chihombori Quao

    Posted On 01 Jan 2021

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Facebook

    Latest Posts

    Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent's Food Security

    Ghana & Nigeria to Improve Cross-Border Trade

    Tanzania Seeks to Reach New Record Cashew Production by 2025

    Recent Posts

    • Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent’s Food Security
    • Ghana & Nigeria to Improve Cross-Border Trade
    • Tanzania Seeks to Reach New Record Cashew Production by 2025
    • Nestle Nigeria Capitalized Rural Women to enable Financial Capacity and boosting Standard of Living
    • World Trade Organization published…Trade plays an Important facet in Access to Medical, Goods and Services

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.