Single currency in west Africa still a long way off

Lack of progress in the six-country West African Monetary Zone (WAMZ) has meant the deadline for meeting the convergence criteria has been delayed until June 2005 from January 2003.

The final stage of the development of the WAMZ is integration with the eight -state Union Economique et Monetaire Ouest Africaine (UEMOA) and adoption of the CFA franc used by UEMOA and several central African countries.

Abah Ofon, an economist at Standard Chartered in London, said WAMZ’s efforts to emulate the suc