Heads of state and government within the Economic Community of West African States (ECOWAS) have reaffirmed their commitment to launching the region’s single currency, the ECO, by 2027.
Meeting to review progress on the long-delayed monetary union, leaders agreed on a phased approach. Under the strategy, only member states that meet the strict economic convergence criteria will participate in the initial launch phase.
The decision signals a renewed push by West African nations to overcome persistent economic hurdles and deliver on one of the most ambitious regional integration projects on the continent. Achieving a monetary union is viewed as a vital step towards boosting intra-regional trade, lowering transaction costs, and building economic resilience across West Africa.
–ChannelAfrica–
