ECOWAS CONVERGENCE COUNCIL REVIEWS PROGRESS TOWARDS SINGLE CURRENCY
The ECOWAS Commission convened the 14th session of the Convergence Council by videoconference on September 7, 2026, to analyze the progress towards the creation of the ECOWAS single currency, the «ECO», whose launch is scheduled for 2027.
The session analyzed the report of the 68th Meeting of the Central Banks Committee (CoG) of the Member States’ Central Banks of ECOWAS, held on September 4, 2026. The CoG meeting followed the 3rd Joint Meeting of the Technical Committee for Macroeconomic Policies of the ECOWAS Commission and the Technical Committee for Economic and Monetary Affairs of the West African Monetary Agency (WAMA), held from August 31 to September 2, 2026.
The meetings analyzed the economic performance and the state of convergence of the Member States and evaluated the progress made in meeting the pending requirements for the launch of the ECO. Participants noted that the goal of launching the ECO in 2027 remains feasible. The Council requested the ECOWAS Commission to immediately convene the Working Group of the President to accelerate the process.
