ECOWAS postpones single currency launch
The Economic Community of West African States (ECOWAS) has postponed the launch of its planned single currency “ECO”, it was learnt.
The regional body said a new date for the launch would be announced later.
The was contained in a communique issued at the end of the 57th Summit of the Authorities of Heads of State and Government of ECOWAS.
The body said the postponement was done to consolidate the achievements.
Consequently, a new roadmap for the single currency programme will be developed.
Besides, member states are to be exempted from compliance with the convergence criteria in 2020; while also developing a new macroeconomic convergence and stability pact among the ECOWAS member states.
The body, however, agreed to maintain the gradual approach for the launching of ECO. Read More…
