Should African countries push harder for a single trade currency, or is national monetary control worth protecting?
The ECOWAS single currency conversation keeps resurfacing, and I go back and forth on it. Shared currency would cut cross-border trade friction massively, but looking at what happened in the Eurozone during the debt crisis, individual countries lost a lot of flexibility to respond to their own economic shocks. Curious where people land on this — is monetary sovereignty worth the trade friction, or is it time to move past it?
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