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The Eco is the proposed name for the common currency that the West African Monetary Zone (WAMZ) plans to introduce in the framework of Economic Community of West African States (ECOWAS). After its introduction, the goal is to merge the new currency with the West African CFA franc (used by the French-speaking members of ECOWAS since 1945) at a later date. This will create a common currency for much of West Africa. ==Ten criteria== For the Eco to be implemented, ten criteria, set out by the West Africa Monetary Institute (WAMI), must be met. These criteria are known as the Four Primary Convergence Criteria and Six Secondary Convergence Criteria. Up to the fiscal year 2011, only Ghana have been able to meet all the primary criteria in any single fiscal year. The four Primary Criteria to be achieved by each member country are: * A single-digit inflation rate at the end of each year * A fiscal deficit of no more than 4% of the GDP * A central bank deficit-financing of no more than 10% of the previous year’s tax revenues * Gross external reserves that can give import cover for a minimum of three months. The six Secondary Criteria to be achieved by each member country are: * Prohibition of new domestic default payments and liquidation of existing ones. * Tax revenue should be equal to or greater than 20 percent of the GDP. * Wage bill to tax revenue equal to or less than 35 percent. * Public investment to tax revenue equal to or greater than 20 percent. * A stable real exchange rate. * A positive real interest rate. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Eco (currency)」の詳細全文を読む スポンサード リンク
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