ECOWAS propels the launch of single currency to 2027

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ECOWAS propels the launch of single currency to 2027

The Economic Community of West African States (ECOWAS) has adopted a new road map to launch its single currency in 2027.

Dr Jean-Claude Brou, President of the ECOWAS Commission, told a press conference that the new road map was agreed by the heads of state of ECOWAS at the 59th ordinary summit in Accra on Sunday.

Dr Brou said, ”Due to the shock of the pandemic, the heads of state had decided to suspend the implementation of the convergence pact in 2020-2021.”

”We have a new road map and a new convergence pact that will cover the period between 2022 and 2026, and 2027 being the launch of the Eco,” he added.

Dr Brou said the heads of state had asked the ministerial committee to look at the new roadmap and the convergence pact, taking into account the lessons from the Covid-19 pandemic.