Prospects for monetary and financial cooperation in West Africa

Abstract

The report will, first of all, highlight the proliferation of monetary systems in the sub region as an obstacle to monetary cooperation*0. The second part will assess the measures taken by ECOWAS to turn the heterogeneity of the monetary zone to best account (11) by placing emphasis on the external convertibility of the different currencies among themselves; a wager for the establishment of a single West African monetary zone m which is expected to assure convertibility of the currencies and convergence of economic policies of the States. As it can be seen, although this report touches on the problems of financial cooperation, it is devoted mainly to monetary cooperation.