Business News of Sunday, 20 June 2021
• A new roadmap towards the ECOWAS single currency has been adopted
• The single currency is expected to take off by 2027
• The agreement was arrived at during the 59th Ordinary Session of the ECOWAS in Accra
After many years of planning, a new roadmap to launch the Economic Community of West African States (ECOWAS) single currency in 2027, has been adopted.
This agreement, according to Dr. Jean-Claude Kassi Brou, President of the ECOWAS Commission, was arrived at by all Heads of State of ECOWAS at the 59th Ordinary Summit in Accra, yesterday, reports the GNA.
“Due to the shock of the pandemic, the heads of state had decided to suspend the implementation of the convergence pact in 2020-2021,” Dr. Brou said.
“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 said.
He also added that the Heads of State had requested of the ministerial committee to take a look at the new roadmap and the convergence pact, considering the lessons the coronavirus pandemic has brought on the sub-region.