Finance ministers and central governors of the West African Monetary Zone last week concluded their meeting here in Accra to track the progress made by member countries on meeting the 2015 deadline for the introduction of the Eco. The meeting sought to track the progress made by members in adopting the second monetary zone. The question however is whether the introduction of the single currency in the next five years remains a mirage. For many, it is believed that the introduction of the single currency will never come to pass. The union on four occasions has had to postpone the introduction of the currency due to some challenges by members in meeting the criteria for the rollout. The requirements for these member countries include an end-of-year single digit inflation target and gross external reserves not less than 3 months’ import cover. Central bank financing of government’s fiscal deficit should also be less than 10 percent whilst fiscal deficit should also not go below 4 per cent. The Eco was scheduled to be introduced at the end of 2009 in its virtual form and gradually be transformed into a legal tender for a few years with the eventual aim of merging it with the CFA franc which is used by the Franco West African countries. But at the recent meeting in Accra by the central bank governors and finance ministers of the region, calls were made for some of the criteria to be relaxed or given a second look. However, for some, the only way that a second monetary zone can be achieved is to allow member countries that meet the qualifying criteria to start while the rest follow. But whether the 2015 deadline will be achieved, still remains a big question. Meanwhile, Ghana has been the worst performer in terms of meeting the criteria for the introduction of the single currency, the Eco. A careful study of the progress report of member countries since the proposed introduction of the Eco in 2001 has revealed that Ghana on the average only met two of the requirements, while the region’s biggest economy, Nigeria, has met three of the requirements. The Gambia seems to be best performer in recent times. Since 2006 the country has met all the four benchmarks. It however only met three this year. A report by George Wiafe/Joy Business/Ghana