{"id":116775,"date":"2021-06-19T19:03:29","date_gmt":"2021-06-19T19:03:29","guid":{"rendered":"https:\/\/fin2me.com\/?p=116775"},"modified":"2021-06-19T19:03:29","modified_gmt":"2021-06-19T19:03:29","slug":"west-african-regional-bloc-adopts-new-plan-to-launch-single-currency-in-2027","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/west-african-regional-bloc-adopts-new-plan-to-launch-single-currency-in-2027\/","title":{"rendered":"West African regional bloc adopts new plan to launch single currency in 2027"},"content":{"rendered":"<p>ACCRA (Reuters) -A group of fifteen West African countries have adopted a new road map to launch a single currency in 2027 after its previous plans were derailed by the coronavirus pandemic.<\/p>\n<p>The new road map was agreed by heads of state of the Economic Community of West African States (ECOWAS), Jean-Claude Kassi Brou, president of the ECOWAS Commission, told a news conference after a summit of the leaders in Ghana on Saturday<\/p>\n<p>The countries hope a single currency will help to boost trade and economic growth<\/p>\n<p>\u201cDue to the shock of the pandemic, the heads of state had decided to suspend the implementation of the convergence pact in 2020-2021\u201d Brou said.<\/p>\n<p>\u201cWe have a new road map and a new convergence pact that will cover the period between 2022-2026, and 2027 being the launch of the Eco,\u201d he said, referring to the name of the new currency.<\/p>\n<p>Nigeria, the largest economy in West Africa, currently operates a managed float for its currency, while eight others including top cocoa producer Ivory Coast, use the France-backed CFA, pegged to the euro.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/westafrica-summit-currency\/update-1-west-african-regional-bloc-adopts-new-plan-to-launch-single-currency-in-2027-idUSL2N2O10CS\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ACCRA (Reuters) -A group of fifteen West African countries have adopted a new road map to launch a single currency in 2027 after its previous [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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