AfricaNowInternational

West African Leaders Agree on New Single Currency Plan

West African leaders present at a summit in Ghana on Saturday agreed on a new road map to launch a single currency in 2027.

The bloc had planned to launch a common currency this year but postponed the plan due to challenges posed by the coronavirus pandemic.

ECOWAS Commission President Jean-Claude Kassi Brou said the pandemic had upset plans to implement the convergence pact.

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

The currency, known as ECO, aims to replace the CFA Franc used in former French colonies. Proponents of the ECO say it will help countries break dependence and exploitation by on Paris.

But some countries such as Nigeria and Ivory Coast have been accused of dragging their feet on the issue.

The summit also discussed Mali’s political crisis.

The bloc suspended Mali after a coup that toppled the country’s transitional government in late May.

Junta leader Col. Assimi Goita, sworn in as president along with activist Choguel Maiga as prime minister, has vowed to stick to the old transition schedule which prescribes elections and a return to civilian rule in February 2022.

But the summit did not lift Bamako’s suspension despite noting “positive developments.”

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Yes, I would like to receive emails from Washington Informer Newspaper. Sign me up!


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Back to top button

My News Matters to me - Washington Informer Donations

Be a Part of The Washington Informer Legacy

A donation of your choice empowers our journalists to continue the work to better inform, educate and empower you through technology and resources that you use.

Click Here Today to Support Black Press and be a part of the Legacy!

Subscribe today for free and be the first to have news and information delivered directly to your inbox.


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Adblock Detected

Please consider supporting us by disabling your ad blocker