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Regional Integration in West Africa: Is There a Role for a Single Currency?

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Assessing the potential benefits and risks of a currency union
Leaders of the fifteen-member Economic Community of West African States (ECOWAS) have set a goal of achieving a monetary and currency union by late 2020. Although some progress has been made toward achieving this ambitious goal, major challenges remain if the region is to realize the necessary macroeconomic convergence and establish the required institutional framework in a relatively short period of time.
The proposed union offer...