Friday, July 1, 2022

What Did The Heads Of State Of Ecowas Say About The Eco In The Communique Of 19th June 2021?

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QUESTION OF THE DAY

“The Authority commends the Ministerial Committee on the Single Currency Programme for its diligence in implementing the decisions taken at its 58th Ordinary Session held by video conference on 23rd January 2021. It decides:

a. to adopt the Convergence and Macroeconomic Stability Pact between ECOWAS Member States, whose convergence phase covers the period from 2022 to 2026 and the stability phase from 1st January 2027; and

b. Takes note of the roadmap for the launch of ECO by 2027 and charges the Ministerial Committee to continue to work to resolve all outstanding issues.”

Will there be an ECO in West Africa in 2027 just as you have the EURO in Europe? Time will tell.

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