West Africa welcomes common monetary institute

The opening of the West African Monetary Institute (WAMI) is an onset of a credibility building process to create an acceptable common currency for member countries, local media reported on Feb. 1, 2001.

Speaking at the opening ceremony of WAMI on Jan. 31 in Ghana' s capital Accra, governor of the Bank of Ghana Kwabena Duffuor said that the harmonization of macroeconomic policies is critical to the success of the creation of a West African Central Bank and a common currency. Duffuor also gave