• 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
The Alan News Paper, Publication 76

The Alan News Paper, Publication 76

August 8, 2022
BRING BACK THE LOVE FOR NPP

BRING BACK THE LOVE FOR NPP

August 2, 2022
DOWNLOAD THE NATIONAL AfCFTA POLICY FRAMEWORK AND ACTION PLAN

DOWNLOAD THE NATIONAL AfCFTA POLICY FRAMEWORK AND ACTION PLAN

August 2, 2022
THE ALAN NEWS PAPER 75TH PUBLICATION

THE ALAN NEWS PAPER 75TH PUBLICATION

August 2, 2022
ALAN KYEREMATEN SAYS AYEKOO TO ALL NPP MEMBERS

ALAN KYEREMATEN SAYS AYEKOO TO ALL NPP MEMBERS

July 31, 2022
NPP 2024: MY HUMBLE ADVICE TO NPP DELEGATES ON THE BACK OF NATIONAL NASARA COORDINATOR’S FAILED “COUP”

NPP 2024: MY HUMBLE ADVICE TO NPP DELEGATES ON THE BACK OF NATIONAL NASARA COORDINATOR’S FAILED “COUP”

July 30, 2022
TRUST US!…WE SHALL OVERCOME CURRENT HARDSHIP SOON- NPP

TRUST US!…WE SHALL OVERCOME CURRENT HARDSHIP SOON- NPP

July 28, 2022

ALAN KYEREMATEN IS GHANA’S NEXT PRESIDENT WITH THE INDUSTRIAL VISION TO CREATE JOBS

July 28, 2022
Use Ghana As A Springboard for AfCTA’s $3.3 Trillion Market-Kyerematen Tells Turkish Community

Good News To Alan Cash As NPP Executives In The Ashanti Region Plan To Do This For Him In September

July 28, 2022

SUBSCRIBE TO THE ALAN NEWS 4 NOTIFICATIONS

July 23, 2022
1D1F product on the shelves of Global sales Giants

1D1F product on the shelves of Global sales Giants

July 21, 2022
THE ALAN NEWS PAPER

THE ALAN NEWS PAPER

July 18, 2022
  • Alan’s Profile
  • Endorsements
  • Documents
  • Gallery
  • Contact Us
Friday, August 12, 2022
  • Login
THE ALAN NEWS
  • Home
  • General News
    • NPP News
    • Alan TV
    • Pro Alan Groups
  • Alan 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

IMF team okays Free SHS; calls it ‘innovative’

July 14, 2022
NPP 2024: MY HUMBLE ADVICE TO NPP DELEGATES ON THE BACK OF NATIONAL NASARA COORDINATOR’S FAILED “COUP”

NPP 2024: MY HUMBLE ADVICE TO NPP DELEGATES ON THE BACK OF NATIONAL NASARA COORDINATOR’S FAILED “COUP”

July 30, 2022
Ghana ranked best trade, and investment hub in West Africa – Fitch Solutions

IMF Bailout: We Shall Surely Bounce Back – Alan Raises Hope

July 11, 2022
Gallery

Addressing The Misconceptions About ‘Alan Cash’

37

Danquah-Dombo-Busia: A political tradition or a system for rotating presidential candidates among some selected ethnic groups?

9
Download : 5th Edition of Alan News

Download : 5th Edition of Alan News

9
The Alan News Paper, Publication 76

The Alan News Paper, Publication 76

August 8, 2022
BRING BACK THE LOVE FOR NPP

BRING BACK THE LOVE FOR NPP

August 2, 2022
DOWNLOAD THE NATIONAL AfCFTA POLICY FRAMEWORK AND ACTION PLAN

DOWNLOAD THE NATIONAL AfCFTA POLICY FRAMEWORK AND ACTION PLAN

August 2, 2022
THE ALAN NEWS

Copyright © 2022 The Alan News

Navigate Site

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

Follow Us

No Result
View All Result
  • Home
  • General News
    • NPP News
    • Alan TV
    • Pro Alan Groups
  • Alan 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