West Africa / ECOWAS moves towards Eco: A call for collaboration for A Common Monetary Future
Faced with global economic challenges, the member states of the Economic Community of West African States (ECOWAS) are being urged to step up their cooperation in order to achieve their goal of introducing the Eco, the future common regional currency. The statement was made by Olorunsola Olowofeso, Director General of the West African Monetary Institute (WAMI).
The statement was made by Mr Olowofeso at the official opening of the 53ᵉ meeting of the Technical Committee of Member States of the West African Monetary Zone in Accra.
He highlighted that the governments and central banks of ECOWAS Member States are working actively to maintain the cohesion of their economies and to meet the deadlines set for the launch of their common currency.
To support this effort, he stressed the importance of mobilising all stakeholders, saying that no one can accomplish this task alone.
According to him, all the players involved must participate actively in order to achieve this objective.
He added that to succeed in this process, it is essential to engage in dialogue with all stakeholders and to coordinate institutions and regulations.
He emphasized that strengthening relations between all stakeholders is necessary to inform them of the challenges to be met and to take concerted decisions on how to resolve them.
This roadmap requires all member states to meet the main convergence criteria in a sustainable manner by the end of 2026.
Neil Camara
