The key focus of the 34th Joint Meeting is to review progress on the ECOWAS Single Currency program, scheduled for 2020 as part of the ECOWAS Monetary Cooperation (EMPC). The WAMA Director General’s Report also assessed the Exchange Rate Developments in ECOWAS Member States. According to the WAMA Director General, the Liberian dollar experienced the highest depreciation followed by the Leone. “Moreover, trends in bilateral exchange rates showed that the CFA franc and the escudo were the only currencies that appreciated against all the other ECOWAS currencies. The Liberian dollar, on the other hand, depreciated against all ECOWAS currencies,” the WAMA Director General pointed out in his report.

Source: Daily Observer February 20, 2019 03:33 UTC