The new road map was agreed by heads of state of the Economic Community of West African States , Jean-Claude Kassi Brou, president of the ECOWAS Commission, told a news conference after a summit of the leaders in Ghana on Saturday“Due to the shock of the pandemic, the heads of state had decided to suspend the implementation of the convergence pact in 2020-2021" Brou said.
“We 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,” he said, referring to the name of the new currency. 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.
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