Business News of Sunday, 29 December 2019Source: www.ghanaweb.comGhana to drop the cedi for ECO - GovernmentAlassane Ouattara, President of Cote D'Ivoire (L) & Akufo Addo, president of GhanaGhana will soon swap the cedi for the new single ECOWAS common currency, the eco when trading within the ECOWAS region. "We, in Ghana, are determined to do whatever we can to enable us join the Member States of UEMOA, soon, in the use of the ECO, a statement from the presidency said. Currently, Ghana drops its cedi for the CFA when trading with French west Africa but now its hoping to swap the cedi for eco instead. Ghana believes the adoption of a single currency market will help remove trade and monetary barriers, reduce transaction costs, boost economic activities and also raise living standards. Therefore it is calling on other ECOWAS member states to expedite work towards implementing the single currency usage decision.

Source: GhanaWeb December 29, 2019 06:11 UTC