• Latest
  • Trending
  • All
Move to implement ECO currency still on course – Trade Minister-designate affirms

Move to implement ECO currency still on course – Trade Minister-designate affirms

March 6, 2021
Ga’s will feature prominently in my gov’t – Alan Kyerematen to Ga Mantse

Ga Mantse prays for Alan’s victory in the upcoming NPP Flagbeararship race

March 14, 2023
Former KMA Presiding Member Applauds Alan Kyerematen’s Decision to Downsize Government.

Former KMA Presiding Member Applauds Alan Kyerematen’s Decision to Downsize Government.

March 14, 2023
Resign as veep and face Alan so we can see who is who – Owusu-Amankwah to Bawumiah

Alan’s credibility alone makes him a perfect candidate for President – Former NPP MP

March 14, 2023
Ga’s will feature prominently in my gov’t – Alan Kyerematen to Ga Mantse

Ga’s will feature prominently in my gov’t – Alan Kyerematen to Ga Mantse

March 14, 2023
Use Ghana As A Springboard for AfCTA’s $3.3 Trillion Market-Kyerematen Tells Turkish Community

Solomon Owusu writes: Alan is an Achiever, an Asset for Today and Tomorrow

March 14, 2023
The Alan News (Publication 101)

The Alan News (Publication 101)

March 13, 2023
The Alan News Paper (100th Publication)

The Alan News Paper (100th Publication)

March 7, 2023
ELECTION 2024: THE RIVETING TINUBU-ALAN CONNECTION AND PREDICTION

ELECTION 2024: THE RIVETING TINUBU-ALAN CONNECTION AND PREDICTION

March 2, 2023
Alan Kyerematen supports funeral of Yagbonwura

Alan Kyerematen supports funeral of Yagbonwura

February 27, 2023
Alans’ Charge for Change

Alans’ Charge for Change

February 26, 2023
I’ve what it takes to break the 8 with NPP—Alan Kyerematen

I’ve what it takes to break the 8 with NPP—Alan Kyerematen

February 25, 2023
NPP Flagbearership: ‘I’m Not Happy’, Bawumia Is Being Surrounded By ‘Liars’ Who Want His Money – Alan’s Spokesperson

NPP Flagbearership: ‘I’m Not Happy’, Bawumia Is Being Surrounded By ‘Liars’ Who Want His Money – Alan’s Spokesperson

February 24, 2023
  • Alan’s Profile
  • Endorsements
  • Documents
  • Gallery
  • Contact
Monday, March 20, 2023
  • Login
THE ALAN NEWS
  • Home
  • General News
    • NPP News
    • Alan TV
    • Pro Alan Groups
  • 1D1F News
  • Projects
  • Wear Ghana
No Result
View All Result
THE ALAN NEWS
No Result
View All Result
Home General News

Move to implement ECO currency still on course – Trade Minister-designate affirms

by THE ALAN NEWS
March 6, 2021
in General News
0
Move to implement ECO currency still on course – Trade Minister-designate affirms
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Trade Minister-designate, Alan Kyeremanten, has affirmed Ghana intends to move along with its plans to implement the West African single currency, the ECO.

According to him, Ghana still remains on the drawing board despite the unwillingness of some West African member countries to meet the 10-point convergence criteria for use of the currency.

Making the disclosure to the Appointments Committee of Parliament during his ministerial vetting, the Trade Minister-designate explained despite these stumbling blocks, Ghana intends to move ahead towards the implementation of the currency.

“We all agree that a common currency in ECOWAS will enhance trade between our countries. Unfortunately, we’ve not been able to move forward to achieve our objective because it is very difficult to be able to get all countries to achieve the convergence criteria at the same time,” he told the Appointments Committee of Parliament.

The Trade minister further added theses current impediments to the implementation would not disallow member countries from taking advantage of the African Continental Free Trade Agreement.

He explained this could be done through a much appreciable payment platform which will improve currency trading among member countries.

“I think that going forward, under the AfCFTA, there’s a new initiative called the payment settlement mechanism that allows every state party to be able to use their local currency to trade without the benefit of a common currency. So when this payment settlement mechanism fully activated, at least, temporarily, it’ll still facilitate trade as was intended by the common currency,” Alan Kyeremanten added.

The ECO when rolled out is expected to boost economic development in the West African region and improve cross-border trade through a single or common currency.

Its name was proposed and would be adopted by the West African Monetary Zone (WAMZ) and the West African Economic and Monetary Union (UEMOA) across the ECOWAS states.

Source: www.ghanaweb.com

Tags: Alan John KyerematenECOTrade Ministry
Share196Tweet123Share49
THE ALAN NEWS

THE ALAN NEWS

  • Trending
  • Comments
  • Latest
Alan Kyerematen is the new Heartbeat of Ghana

Alan Kyerematen is the new Heartbeat of Ghana

January 9, 2023
NPP Postpones Top Level Meetings

NPP Postpones Top Level Meetings

January 28, 2023
Hopeson Adorye Sacked from his Job for Supporting Alan Kyerematen

Hopeson Adorye Sacked from his Job for Supporting Alan Kyerematen

November 25, 2022
Gallery

Addressing The Misconceptions About ‘Alan Cash’

24

Alan John Kyerematen

0
Trade Ministry calls for public recommendations on automation of state institutions

Alan’s Agenda Of Job Creation For All – 1D1F THE GAME CHANGER

0
Ga’s will feature prominently in my gov’t – Alan Kyerematen to Ga Mantse

Ga Mantse prays for Alan’s victory in the upcoming NPP Flagbeararship race

March 14, 2023
Former KMA Presiding Member Applauds Alan Kyerematen’s Decision to Downsize Government.

Former KMA Presiding Member Applauds Alan Kyerematen’s Decision to Downsize Government.

March 14, 2023
Resign as veep and face Alan so we can see who is who – Owusu-Amankwah to Bawumiah

Alan’s credibility alone makes him a perfect candidate for President – Former NPP MP

March 14, 2023
THE ALAN NEWS

Copyright © 2022 The Alan News

Navigate Site

  • Alan’s Profile
  • Endorsements
  • Documents
  • Gallery
  • Contact

Follow Us

No Result
View All Result
  • Home
  • General News
    • NPP News
    • Alan TV
    • Pro Alan Groups
  • 1D1F News
  • Projects
  • Wear Ghana

Copyright © 2022 The Alan News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In