
Audio By Carbonatix
The West African Monetary Institute, WAMI says it is already taking steps to ensure that member countries do not suffer the same predicament as those in the Eurozone.The Institute has been mandated to undertake preparatory activities towards the establishment of the West African Central Bank and the introduction of the ECO currency.It says current volatilities in the world market coupled with the Eurozone economic crises provide enough lessons for the West African sub-region’s bid towards economic and financial integration.WAMI’s Acting Director General, J.H Kitcher tells JOYBUSINESS plans are far-advanced to guard against the occurrence of the Eurozone crisis in the sub-region. “ Fiscal discipline is important and that is one key lesson that we’ve learnt from the Greek crises that countries must learn to live within their mean" he noted."Also is surveillance of the economy and multilateral surveillance and that is where the Africa Capacity Building Fund grant comes in handy because it is going to improve the capacity of WAMI to enhance its surveillance of the member countries’ economy. If the Greek economy had been properly monitored, these vulnerabilities would have come up earlier and remedial actions taken” he concluded.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Searching for a Ghost in Toronto: When political outrage runs out of idea
2 minutes -
Africans must go… But to where?
14 minutes -
SIMS executive urges community banks, fintechs to partner for deeper financial inclusion
31 minutes -
NPP beats NDC with 49% support in new APL national vote tracker
34 minutes -
Business incubators as a de-Risking tool for SME financing in Ghana
36 minutes -
Why Ghana can’t ignore plastic pollution and marine litter: A World Ocean Day reflection
44 minutes -
Ghana’s economy set for 5.9-6.1% growth in 2026 despite Middle East tensions – Standard Bank Research
47 minutes -
Kennedy Agyapong’s statements undermine NPP’s good name – Ahiagbah
1 hour -
I will not rest until Bawumia becomes Ghana’s President in 2028 – Wontumi
1 hour -
Ignore the distractions – Sammi Awuku urges Bawumia
1 hour -
NCPTA backs GES ban on extravagant graduation ceremonies in basic schools
1 hour -
Bibiani NPP coordinators demand resignation of Western North Regional Chairman over mass disqualification
1 hour -
UTAG gives government June 30 deadline to resolve welfare issues or face strike
1 hour -
Ghana’s non-traditional exports exceed $5bn mark
1 hour -
Stanbic Bank rewards FIFA World Cup winners and launches new Visa local card usage initiative
1 hour