ECOWAS single currency launch moved to 2027

The Economic Community of West African States (ECOWAS) has again moved the launch of a single currency, Eco for use by West African countries to 2027.

Dr Jean-Claude Kassi Brou at a press conference in Accra, said the postponement is mainly due to the impact of the Coronavirus pandemic and that the body had adopted a new roadmap during the 59th Ordinary Session of the ECOWAS on Saturday June 19, 2021 in Accra.

“Due to the shock of the pandemic, the heads of state had decided to suspend the implementation of the convergence pact in 2020-2021,” said Brou, as quoted by the GNA.

“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.

The ministerial committee has been directed to take a look at the new roadmap and the convergence pact, considering the lessons the coronavirus pandemic has brought on the sub-region.

ECOWAS had also in a communique issued at the end of the 57th Summit of the Authorities of Heads of State and Government, postponed the launch.