No single currency for ECOWAS in 2020. The information was given by the President of the ECOWAS commission, Marcel de Souza, received in audience yesterday by President Mahamadou Issoufou.
For the official representative of the community, “the analysis of the convergence and visibility criteria shows that we will not be able to go to the single currency on this date. “
Consequently, it will take another 7 to 10 years to make this currency effective.
In the process, an ECOWAS summit is announced next October to clarify the subject and define the measures to be taken. Other subjects were also on the menu of discussions between the two officials, such as security problems in the region, the association agreement signed with Mauritania with reservations last week, and the upcoming holding of the First Ladies’ summit. from ECOWAS, scheduled for October in Niamey.
For information, the Nigerien President has been coordinating monetary cooperation since 2013 with a view to establishing a single currency.
Source: Ecofin Agency