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[Published: Thursday June 25 2009]

West Africa Delays Single Currency Plan

Abuja, 25 June-(ANA)-West African leaders have pushed back plans to launch a single currency this year, citing the global downturn.

The regional bloc announced a new launch date in 2015.

A statement at the end of their meeting in Abuja said the leaders of Gambia, Ghana, Guinea, Nigeria and Sierra Leone now plan to introduce a common currency by 2015.

The group attributed the delay  to the inability of member states to meet the convergence criteria.

Gambian Vice President Isatou Njie-Saidy said the global economic crisis has eroded recent gains in the region, making it impossible to achieve the indices that could support the new currency. (ANA)

FA/ANA/25 June 2009---



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