The 15-nation Economic Community of West African States (ECOWAS) announced plans Saturday to launch a single currency in 2027, called the “eco,” per Reuters.
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The big picture: The pandemic forced the bloc to “suspend the implementation of the convergence pact in 2020-2021,” ECOWAS president Jean-Claude Kassi Brou said after a summit of the leaders in Ghana. It’s hoped having a common currency will “boost cross-border trade and economic development,” DW notes.
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