MONROVIA, LIBERIA -Finance Minister Samuel Tweah has outlined plans for his new role as Chairman of the Convergence Council Ministers of Finance and Bank Governors of the West African Monetary Zone.
Minister Tweah said as Chairman, he will be pushing for member countries to meet some basic economic benchmarks under the convergence criteria.
The West African Monetary Zone is an Economic and Integration organization comprising six mainly English speaking countries with Guinea, the only francophone member. Other members are Liberia, Ghana, Sierra Leone, Gambia and Nigeria.
Minister Tweah said to achieve the convergence criteria, member countries including Liberia must demonstrate years of macro-economic stability, before thinking of a single currency regime, which is the main goal of WAMZ.
Speaking in an ELBC interview Monday, August 30, 20121, the Finance Minister Liberia has already met three of the six benchmarks and is hopeful that the country will meet full convergence in the near future.