ECOWAS says its Convergence Council has reviewed progress toward establishing the proposed ECO single currency, with the bloc maintaining that a 2027 launch remains achievable.
The September 7 meeting reviewed member states’ economic performance and convergence status and requested that the ECOWAS Commission convene the Presidential Task Force to accelerate preparations.
Liberia is part of the West African Monetary Zone and any future regional currency arrangement could have major implications for the Liberian dollar, monetary policy, trade, cross-border payments and the country’s relationship with the U.S. dollar.
