West African currency zone
The West African Monetary Zone ( English West African Monetary Zone , WAMZ) is an association of primarily English-speaking countries in West Africa , based in Abuja ( Nigeria ). Their common goal is to create the West African Central Bank and a single currency modeled on the euro . It is not to be confused with the Banque Centrale des Etats de l'Afrique de l'Ouest (BCEAO), numerous French-speaking countries in West Africa.
Facilities and construction
Main establishment of WAMZ is the West African Monetary Institute (WAMI; German West African Monetary Institute ) which deals with the establishment of the Central Bank and the single currency is concerned. In the long term, a common currency with the West African Economic and Monetary Union (UEMOA) , the currency union of the francophone countries in West Africa, which already have a common currency, the CFA franc BCEAO , is planned. Together with Cape Verde , these countries form the West African Economic Community ECOWAS .
The planned central bank of the WAMZ is the West African Central Bank (WACB), which is to take over the task of the current central banks of the individual member states. The working title of the common currency is the West African Units Accounts (WAUA), which is already accepted by all member states in the form of travelers' checks. The future currency should be called Eco .
Member States
| country | status | accession |
|---|---|---|
 Gambia
|
member | December 15, 2000 |
 Ghana
|
member | December 15, 2000 |
 Guinea
|
member | December 15, 2000 |
 Nigeria
|
member | December 15, 2000 |
 Sierra Leone
|
member | December 15, 2000 |
 Liberia
|
member | February 16, 2010 |
 Cape Verde
|
observer | - |
See also
Web links
- Official website of the WAMI (English / French)
Individual evidence
- ↑ Organizational Structure of the West African Monetary Institute (WAMI) ( Memento of the original dated December 2, 2013 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. . Retrieved November 26, 2013.
- ↑ LIBERIA JOINS THE WEST AFRICAN MONETARY ZONE (WAMZ) ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. . Press release dated February 16, 2010 on the West African Monetary Institute (WAMI) website. Retrieved May 17, 2010.
