An Evaluation of the Viability of a Single Monetary Zone in ECOWAS
"This study focuses on the prospects of a viable monetary union in the subregion and the role of monetary integration in the facilitation and enhancement of payments for intra-regional trade. Specifically, the main objective of this study is to determine the viability of an ECOWAS monetary union. Other objectives are to review the current levels of developments (especially the implementation of reforms) in the economies of West African countries and their suitability for the establishment of a monetary union in the subregion, and to analyse the costs and benefits of monetary union in ECOWAS. The study also offers suggestions on necessary reforms for the establishment of an effective monetary union in the region."