When I was in Gambia in Nov 2005 this was having alot of publicity. It seems to have gone a bit quiet. What is the time scale for the new currency? What will be the advantages and disadvantages? Do I need to cash in my few dls soon?
I wonder if Gambia will join in or if they are proud of the dls and will resist like the uk and the pound?!
Will the new currency prove to be inflationary?
I am not an economist but perhaps it would be good for trade amongst West African nations?
When I was in Gambia in Nov 2005 this was having alot of publicity. It seems to have gone a bit quiet. What is the time scale for the new currency? What will be the advantages and disadvantages? Do I need to cash in my few dls soon?
I wonder if Gambia will join in or if they are proud of the dls and will resist like the uk and the pound?!
Will the new currency prove to be inflationary?
I am not an economist but perhaps it would be good for trade amongst West African nations?
its called the ECO. it will be the single currency for the english speaking countries (The gambia, ghana,Nigeria and Guinea (french)). it was meant to start but there are delays. Gambia is not resisting, infact there was a time when only Gambia qualified for all the criteria. i don't know the new date. you can read more about it
all the french speaking countries including one portugese (joined recently) have a single currency called the CFA for the last 50yrs and since we are surrounded by them i have always thought its wise to just join the CFA rather than try to have a seperate single currency since the ultimate objective is to combine the two.
i dont think the ordinary people are as sensitised about inflationary issues as you're asking. i for one have never thought of it even.
also i don't think its a good idea to combine small economies like ours with a corrupt Monster like Nigeria (population 130m, biggest city Lagos population >10m), where there is no economics but just oil reciepts/Dollars.
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Posted - 06 Jul 2006 : 20:15:44
