The Economic Community Of West African States, ECOWAS is set to launch it’s own currency, ECO by January 2020.

This was made known at the 55th Ordinary Session held in Abuja in the communiqué read by Mr Mustapha Suleiman, Nigeria’s Permanent Secretary, Ministry of Foreign Affairs.

The association made up of 15-member countries all from West Africa consists of Benin, Burkina Faso, Cape Verde, Côte d’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo.

According to the News Agency of Nigeria, the communiqué read in parts;

“It further directs the commission to ensure implementation of the recommendations of the meeting of the ministerial committee held in Abidjan on June 17 and June 18 as well as preparation and implementation of the Communication Strategy for the single currency programme.

“The Authority takes note of the 2018 macroeconomic convergence report. It noted the worsening of the macroeconomic convergence and urges member states to do more to improve on their performance in view of the imminent deadline.”

“We have not changed that but we will continue with assessment between now and then.

“We are of the view that countries that are ready will launch the single currency and countries that are not yet ready will join the programme as they comply with all six convergence criteria.”

https://www.delaniblog.com.ng/2019/06/30/ecowas-new-money-eco-to-become-active-january-2020/

Ok

https://www.youtube.com/watch?v=rr0A7db1xGQ

ECOWAS to launch regional currency, ECO in 2020

The launch of the operational phase of the African Continental Free Trade Agreement (AfCFTA) is expected later this week, while the 15 ECOWAS countries, adopted ‘ECO’ as the name of the region’s planned shared currency, and agreed for a flexible currency regime towards improving integration and trade in the region.