ECOWAS chief commends Senegal on economic convergence

Dakar- Senegal (PANA) -- The Executive Secretary of the Economic Community of West African States (ECOWAS), Lansana Kouyate, has commended Senegal for meeting three of the four criteria for economic convergence in the sub-region.
Kouyate, who is attending a meeting on ECOWAS conflict prevention protocol, told PANA in Dakar Saturday, that Senegal had complied with at least three of the main convergence criteria as of 2000.
He said the measures required of the 15 member countries for the convergence, included keeping the inflation rate under five percent, a ceiling of budget deficit in relation to the Gross Domestic Product (GDP) at about 10 percent, and boosting the exchange reserves.
"It is on the point relative to exchange reserves that Senegal did not have satisfactory results," Kouyate said, stressing that a number of member States were yet to meet the four criteria for various seasons.
Kouyate, who was received in audience Saturday by Senegalese President Abdoulaye Wade, said he briefed him on "the sub-regional situation, but especially Senegal's role in ECOWAS and its performance with respect to compliance with the convergence criteria".
"President Wade was happy to know that as of 2000, the situation in Senegal was good," the Guinean diplomat added.

06 october 2001 20:17:00

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