The Problem with a Currency Union for West Africa

Despite the modest success of their previous attempts at improving regional trade and integration, West African governments are considering turning ECOWAS into a monetary union and adopting a single currency managed by a single central bank. It is a well-accepted idea that trade can promote inclusive economic growth and raise living standards. However, when compared with other regions of the world, trade has historically been very low within Africa. As such, most Africa countries have been un

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