Vice President Paa KwesiAmissah-Arthur on Tuesday appealed to the Economic Community of West African States (ECOWAS) Task Force on monetary cooperation, to work assiduously to achieve their 2020 convergence point.
He said the achievement of a common currency for the sub-region is crucial for inter- and intra-trade among member-countries, to increase the production of goods and services.
Vice President Amissah-Arthur made the appeal when members of the Task Force called on him at the Flagstaff House, after two days of strenuous meetings in Accra to fine-tune their recommendations.
During their ordinary session in July 2013 in Abuja, the ECOWAS Authority of Heads of State and Government directed the ECOWAS Commission president to make efforts for expediting action on harmonisation of the macro-economic policies, and take necessary measures to ensure an effective second monetary zone.
The extra-ordinary summit of Heads of State and Government on October 25, 2013 in Dakar also appointed President Mahamadou Issoufou of Niger and President John Dramani Mahama of Ghana to oversee creation of the currency in a timely manner.
The call on the Vice President was therefore to present their recommendations in a closed-door meeting.
The Vice President urged the Task Force to implement all necessary measures that will enhance achievement of the convergence point in 2020.
"We cannot exceed our mandate, but there is a need to work assiduously to achieve our targets that will enhance creation of the convergence point in the coming years."
He commended them for their performance so far, and urged them to work relentlessly to achieve targets.
Mr. Seth Terkper, Minister of Finance who led the delegation to the Presidency, said the second meeting of the Task Force was convened to implement the Authority of Heads of State’s directive to review the micro-economic convergence criteria, rationalise of the institutions, and revise the road map for the ECOWAS single currency programme.
He said they will also make proposals to the two Presidents on the issues concerning the macroeconomic criteria.
Credit: GNA
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