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On April 20, 2000, in Accra, Ghana, the leaders of six West African countries declared the

ir intention to proceed to monetary union among the non-CFA franc countries of the region by January 2003, as first step toward a wider monetary union including all the ECOWAS countries in 2004. The six countries 【21】______ themselves to reducing central bank financing of budget deficits 【22】______ 10 percent of the previous years government 【23】______ ; reducing budget deficits to 4 percent of the second phase by 2003; creating a Convergence Council to help 【24】______ macroeconomic policies; and 【25】______ up a common central bank. Their declaration 【26】______ that, "Member States 【27】______ the need 【28】______ strong political commitment and 【29】______ to 【30】______ all such national policies 【31】______ would facilitate the regional monetary integration process."

The goal of a monetary union in ECOWAS has long been an objective of the organization, going back to its formation in 1975, and is intended to 【32】______ broader integration process that would include enhanced regional trade and 【33】______ institutions. In the colonial period, currency boards linked sets of countries in the region. 【34】______ independence, 【35】______ , these currency boards were 【36】______ , with the 【37】______ of the CFA franc zone, which included the francophone countries of the region. Although there have been attempts to advance the agenda of ECOWAS monetary cooperation, political problems and other economic priorities in several of the region's countries have to 【38】______ inhibited progress. Although some problems remain, the recent initiative has been bolstered by the election in 1999 of a democratic government and a leader who is committed to regional 【39】______ in Nigeria, the largest economy of the region, raising hopes that the long-delayed project can be 【40】______ .

【21】

A.committed

B.devoted

C.adjusted

D.attributed

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