Ghana wants to join new West African currency but ditch euro peg

From reuters.com

Ghana’s government said it is determined to join a West African currency that will replace the France-backed CFA franc as soon as next year in eight regional countries, but it urged members of the currency union to ditch a planned peg to the euro. Ghana’s adoption of the new currency, which is called the eco, would make it the bloc’s largest economy, ahead of neighbor Ivory Coast. Ghana is not part of the West African Economic and Monetary Union (UEMOA) of mostly former French colonies that uses the CFA franc and has its own currency, the cedi. Ivory Coast President Alassane Ouattara and French President ... (full story)