West Africa: Ecowas Reaffirms Launch of Single Eco Currency in 2027
The bloc said the currency will be adopted first by members that meet macroeconomic convergence criteria.
- On Sunday, the ECOWAS Authority reaffirmed its commitment to launching the regional "ECO" currency in 2027 during the 69th Ordinary Session held in Lungi, Sierra Leone.
- According to the communique, the ECO will initially be adopted by member states meeting macroeconomic convergence criteria, while countries not yet qualifying will receive support to join the monetary union later.
- Senegalese President Bassirou Diomaye Faye was elected Chairman of the ECOWAS Authority for a one-year tenure, while General Birame Diop of Senegal was appointed President of the ECOWAS Commission for the 2026–2030 term.
- Addressing worsening insecurity in the Sahel and Lake Chad Basin, the Authority approved a revised roadmap for the ECOWAS Counterterrorism Brigade, expected to become fully operational by July 2027.
- Leaders also endorsed the Inter-Governmental Agreement on the African Atlantic Gas Pipeline to enhance energy security, while the summit adopted the Presidential Declaration on Advancing Gender Parity in Political Representation.
20 Articles
20 Articles
West Africa Needs Its Own Draghi Moment
Senegal’s debt crisis has exposed a deeper vulnerability within West Africa’s monetary union. Unable to devalue the shared currency, member countries must either endure painful internal adjustment or boost exports to earn the foreign currency they need to repay external creditors.
The Cedeao reaffirmed its willingness to launch the eco in 2027. In fact, the obstacles are such that the deadline is impossible to meet. Explanations.
ECOWAS declare 2027 deadline for single currency, President Traoré admit rivalry within his camp, US considers strikes in Mali
1. ECOWAS keeps the eco currency on course for 2027The ECOWAS Authority of Heads of State and Government committed again to launching the single currency in 2027, in a communiqué issued after the 69th ordinary session held at Lungi in Sierra Leone on July 19. Leaders abandoned the requirement that all member states meet the convergence criteria at once, so the eco will start with countries that qualify while the rest get support to join later. T…
Africa News
Ghanaian TimesECOWAS reaffirms plans to launch single currency in 2027
The Economic Community of West African States, or ECOWAS, has reaffirmed plans to launch a single currency next year. But the bloc says it’s leaning towards a phased rollout.
West Africa: Ecowas Reaffirms Launch of Single Eco Currency in 2027
The Economic Community of West African States has reaffirmed its commitment to launching the long-awaited single regional currency, the ECO, in 2027, describing it as a major step towards deeper economic integration, stronger regional trade and sustainable growth across West Africa.
Punch Newspapers
Vanguard NewsECOWAS reaffirms plan to rollout ECO single currency in 2027
ECOWAS reaffirms its commitment to launching the ECO single currency in 2027, aiming for deeper economic integration and sustainable growth in West Africa. Read More: https://punchng.com/ecowas-reaffirms-plan-to-rollout-eco-single-currency-in-2027/
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