The major problem of the ECOWAS is lack of _______
Uniform ideology
Commitment by members
Common customs union
Common currency
Explanation
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Yes, it’s true that not having a common currency makes trade and financial transactions harder in ECOWAS. It causes delays, extra costs, and confusion when doing business between countries.
But here’s the thing — the main reason ECOWAS doesn’t have that common currency yet is because many member countries are not fully committed. Some are not ready to give up control of their own currency, while others delay agreements or don’t follow through with plans.
So even though the lack of a common currency is a big issue, it’s not the main problem. The real issue is the lack of strong commitment from member states to make things like the common currency actually happen.
