During the latest summit of the Economic Community of West African States (Ecowas), which took place in Accra in late June 2021, the ministerial committee chaired by Ken Ofori-Atta, Ghana’s finance minister, endorsed a new roadmap for the launch of the eco, the future single currency’s name, which is now scheduled for 2027.
While waiting for this latest development, the Community was exempted from complying with the convergence criteria this year, due to the impact of the Covid-19 pandemic on states’ macroeconomic performance.
A West African economist that participated in these discussions told us that “efforts were made to bring the protagonists’ positions closer.” In this case, the Anglophones were on one side and the members of the franc zone on the other.
The talks also centred around providing “precise details on how to create this single currency.” But he fears that “successive
There's more to this story
Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa. Unlocked.
cancel anytime
Already a a subscriber Sign In
