Ghana backs West Africa’s Eco currency but opposes euro peg

One of West Africa’s bigger economies, Ghana, has thrown it’s weight on the one currency system for West African states, replacing the CFA franc, but does not agree with the attachment the currency will have with France. In a statement by Ghana President Nana Akufo-Addo, he expressed his country’s desire to be part of the […]

On the Eco Currency for West Africa (The Francophonie Eco) – Sulayman Gaye

1) The Eco, it is understood will be pegged to the Euro. Pegging has both pros and cons. Pegging the Eco against the Euro can stabilize inflation in Ecozone if the Eurozone enjoys stable inflation ( price satellite). On the other hand, pegging can lower the price of exports while increasing those of imports thereby […]