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Single currency: The launch of the economy envisaged by 2027

21/06/2021
Categories: Economy/Forex

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During the summit of ECOWAS heads of state on Saturday, June 19, the president of the commission Jean-Claude Kassi Brou presented a new roadmap. The launch of the eco is now in 2027

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Eco will be launched in 2027. The project for a common currency for the fifteen ECOWAS countries is back on track after being suspended due to the pandemic. Since 2020, the process has been at a standstill, due to the Covid-19 pandemic, ECOWAS member countries had suspended their monetary convergence pact. It will resume in 2022, announces Jean-Claude Kassi Brou, the president of the ECOWAS Commission, until 2027. According to the Senegalese economist Moubarack Lô, it seems difficult to bring a country like Nigeria and its 10% inflation into convergence with those of the UEMOA zone, the West African Economic and Monetary Union, the current Franc Zone, where inflation is below 2%. Moreover, the divergent economic interests between oil-producing countries on the one hand and importing countries on the other hand must be reconciled

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