Eco (currency)

  • Member States of the WAMZ

Eco is the name of the West African Economic Community (ECOWAS ) with the revision of the Treaty of 1993 again adopted common West African currency that would replace the previously existing currencies already in 2005. Plans for a monetary union have already been postponed several times, mainly because the francophone countries of the West African Economic and Monetary Union show little motivation to give up the West African CFA franc and the West African Monetary Zone ( WAMZ ) join. Only a few countries were able to meet the agreed convergence criteria.

The planned introduction of the currency in January 2015 is now no longer safe. Members of the "eco - zone " are the countries Ghana, Nigeria, Guinea, Gambia and Sierra Leone. Liberia has acceded on 16 February 2010.

For several years there has been for electronic banking as well as travelers checks the " WAUA " (West African units accounts) as a common currency (see ECU).

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