President Mahama To Lead Process Towards ECOWAS Currency

SpyGhana, Ghana News,  

President John Dramani Mahama has pledged to lead the process towards the attainment of a common monetary convergence in Ghana and other Economic Community of West African States (ECOWAS) by 2015.

President John Dramani Mahama

He has also promised to support efforts at achieving a common currency in the sub- region by 2020.

The President made the pledge when Kadre Desire Ouedraogo, Chairman of ECOWAS and other Commissioners of the ECOWAS Commission, called on him at the Flagstaff House, Kanda.

Also present at the meeting were Vice-President Kwesi Bekoe Amissah-Arthur, the Chief of Staff, Prosper Douglas Bani, Seth Terkper, Minister of Finance and Economic Planning, and Hannah Tetteh, Minister of Foreign Affairs and Regional Integration.

The ECOWAS Authority of Heads of State at its last Extraordinary Session in Dakar, Senegal, in October, 2013, selected President Mahama and the President of Niger, Mahamadou Issoufou, to monitor and supervise the implementation of the monetary corporation project towards the attainment of the monetary convergence by 2015, and a common currency by 2020.

The four criteria for the attainment of the monetary convergence are the reduction in the rate of inflation, achieving minimal budget deficit, a significant financing of the economy by the Central Bank, and a Foreign Exchange Reserve of up to six months.

President Mahama said the attainment of a common currency in West Africa would facilitate business transactions among the people of the various countries in the sub-region, while the monetary convergence would enable the sub-region to negotiate with other continental groupings as a bloc, instead of being separate countries.

He mentioned that the on-going public financial management reforms in Ghana would position Ghana to consolidate the inflation target that it has achieved, and move the country ahead to achieve the other targets on reducing budget deficit, a significant financing of the economy the Central Bank and Foreign Exchange Reserve of up to six months by 2015.

According to him, by 2011, Ghana had achieved almost all of the four targets, but slacked in the process due mainly to some economic pressures, and indicated that the on-going reforms would prevent the reversal.

Vice-President Amissah-Arthur stressed the need for all member countries to demonstrate political will towards the attainment of the monetary convergence and the common currency.

Mr Ouedraogo expressed confidence in the ability of President Mahama to use his diplomatic skills to lead the monetary co-operation project towards the attainment of the monetary convergence and the common currency among ECOWAS by 2020.

He said the ECOWAS Commission had prepared a memorandum and wanted President Mahama to review it and offer his advice on the way forward for the realization of the single monetary zone by 2020.

Mr Ouedraogo explained that the first step was for the member-countries to achieve monetary convergence by 2015 to prepare the way for the attainment of the common currency by 2020.

Source: citifmonline

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"A Summary" – Apr 2, 2011 (Kryon channelled by Lee Carroll) (Subjects: Religion, Shift of Human Consciousness, 2012, Intelligent/Benevolent Design, EU, South America, 5 Currencies, Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Middle East, Internet, Israel, Dictators, Palestine, US, Japan (Quake/Tsunami Disasters , People, Society ...), Nuclear Power Revealed, Hydro Power, Geothermal Power, Moon, Financial Institutes (Recession, Realign integrity values ..) , China, North Korea, Global Unity,..... etc.) - (Text version)

“…. Human Nature is Changing

There's a new concept afoot, a change in Human nature. We've spoken about this before. How many of you studied European history? And in school, did your mind fill up with all of the dates you had to memorize? Who conquered whom and when? Over and over and over, every single country had their turn conquering another country. Borders moved constantly. As far back as you want to go, that's what Humans did. They separated, gathered, and conquered. But as little as 50 years ago, it all stopped.

We've said this before. Fifty years ago, a seed, an idea, was planted at the end of World War II. "Let's put these European countries together," they said. "Let's even drop the borders and eventually give them one currency." Do this and they'll never war again, they predicted, for countries with common economic sources don't go to war! And that's exactly what's happened. Did it work? It's fairly fresh, but their money is threatening to take over the strength of your money, did you notice? It's worth more than yours. They still struggle to make it work and balance it. But then again, you do the same in the United States, always fine tuning the unity.

South America is considering the same thing right now. The seeds are being planted in Brazil. Within a generation, they would love to see the borders dropped and one currency. Can they do it? Perhaps. Perhaps it will take longer. Why do it? Because they see the European Union with the strongest currency on Earth. We've said this before. Here is a prediction: Perhaps not in your time, but there'll come a day when there are only five currencies in the world, because continents will start understanding that unification creates peace and prosperity. Separation creates chaos. What a concept.  …”

Africa - "The End of History"- Nov 20, 2010 (Kryon channeled by Lee Carroll)

"..  Let me tell you where else it's happening that you are unaware - that which is the beginning of the unity of the African states. Soon the continent will have what they never had before, and when that continent is healed and there is no AIDS and no major disease, they're going to want what you have. They're going to want houses and schools and an economy that works without corruption. They will be done with small-minded leaders who kill their populations for power in what has been called for generations "The History of Africa." Soon it will be the end of history in Africa, and a new continent will emerge.

Be aware that the strength may not come from the expected areas, for new leadership is brewing. There is so much land there and the population is so ready there, it will be one of the strongest economies on the planet within two generations plus 20 years. And it's going to happen because of a unifying idea put together by a few. These are the potentials of the planet, and the end of history as you know it.

In approximately 70 years, there will be a black man who leads this African continent into affluence and peace. He won't be a president, but rather a planner and a revolutionary economic thinker. He, and a strong woman with him, will implement the plan continent-wide. They will unite. This is the potential and this is the plan. Africa will arise out the ashes of centuries of disease and despair and create a viable economic force with workers who can create good products for the day. You think China is economically strong? China must do what it does, hobbled by the secrecy and bias of the old ways of its own history. As large as it is, it will have to eventually compete with Africa, a land of free thinkers and fast change. China will have a major competitor, one that doesn't have any cultural barriers to the advancement of the free Human spirit. …."