Search
  1. Home
  2. Africa
  3. West Africa
  • News

ECOWAS leaders approve plan to speed up integration

    ABIDJAN

    West African leaders on Friday agreed on measures to speed up the momentum toward the creation of a single monetary zone by 1 January 2004.

    In a final communique at the end of their 22nd summit, held in Lome, Togo, on 9-10 December, the nine ECOWAS heads of state and government who attended the meeting backed a Nigerian proposal for an initial group of countries, determined to take the fast track to integration, to take practical measures to integrate their economics.

    Countries wanting to make the fast track would have to keep their
    inflation rates at no more than 5 percent and hold foreign reserves equivalent to six months' imports between now and the year 2003, they agreed.

    Participants also commended Nigeria's decision to lift all tariff and non-tariff barriers to regional trade.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

    Share this article

    Our ability to deliver compelling, field-based reporting on humanitarian crises rests on a few key principles: deep expertise, an unwavering commitment to amplifying affected voices, and a belief in the power of independent journalism to drive real change.

    We need your help to sustain and expand our work. Your donation will support our unique approach to journalism, helping fund everything from field-based investigations to the innovative storytelling that ensures marginalised voices are heard.

    Please consider joining our membership programme. Together, we can continue to make a meaningful impact on how the world responds to crises.

    Become a member of The New Humanitarian

    Support our journalism and become more involved in our community. Help us deliver informative, accessible, independent journalism that you can trust and provides accountability to the millions of people affected by crises worldwide.

    Join