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Covid-19 pandemic forces ECOWAS to postpone Single Currency implementation

The ravaging effects of Covid-19 pandemic has forced the 59th Ordinary Session of the ECOWAS Authority of Heads of State and Government to adopt a new road map for the launch of the region’s single currency in 2027.The President of the ECOWAS Commission, Dr Jean-Claude Kassi Brou, told journalists at a news conference in Accra on Saturday that the new road map was agreed by the Heads of State of ECOWAS at the meeting on Saturday.

According to him, the Heads of State decided to suspend the implementation of the convergence pact in 2020-2021 due to the global effects of the pandemic.

“We have a new road map and a new convergence pact that will cover the period between 2022 and 2026, and 2027 being the launch of the Eco,” local media reports quoted Brou as saying at the news conference.

The reports added that the ministerial committee had been mandated to look at the new roadmap and the convergence pact in view of the impact of the pandemic on the economies of the regional members.

Earlier, Dr. Brou had reiterated the commitment of the ECOWAS leaders to achieve regional integration.

In his Speech at the 59th Ordinary Session of the ECOWAS Authority of Heads of State and Government Summit in Accra on Saturday, Dr Brou expressed gratitude to the ECOWAS Leaders for their support to all ECOWAS Institutions in the discharge of their mission.

He disclosed that an electoral cycle had just been completed within the region with seven presidential elections and several legislative elections in 14 months, in line with the constitutional timetable of the Member States.

Brou lamented that the socio-political crisis in Mali has remained a concern given the risks of instability for that country and the region and stressed the need to adhere to the 27 February 2022 date for presidential elections in Mali.

He assured that ECOWAS leaders that the proposed reforms would strengthen the efficiency of ECOWAS Institutions and streamlining their operating costs.

Brou also paid special tribute to President Nana Addo Dankwa Akufo-Addo of Ghana and Chair of the ECOWAS Authority of Heads of State and Government, for his continued commitment and support in the implementation of the major integration projects of ECOWAS.

Published on 10.02.2021

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