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ECOWAS Leaders adopt new Convergence, Macroeconomic Stability Pact

The Authority of Heads of State and Government of ECOWAS has adopted the Convergence and Macroeconomic Stability Pact between ECOWAS Member States, “whose convergence phase covers the period from 2022 to 2026 and the stability phase from 1st January 2027”.The communique issued after the meeting on Saturday in Accra, Ghana, the ECOWAS Leaders adopted the roadmap for the launch of ECO by 2027 and charged the Ministerial Committee to continue to work to resolve all outstanding issues.

The Authority took note of the progress in the ratification of the Agreement on the African regional market and urged remaining Member States to accelerate the ratification process of the AFCFTA.

“Furthermore, it directs the ECOWAS Commission to continue to coordinate common positions for the negotiations in order to ensure it builds on the acquis of ECOWAS,” it said.  

On the optimal structure and size of the new Commission and the other Institutions and efforts to further streamline ECOWAS operating costs, the Authority reiterated its commitment to the objectives of improved performance and operational efficiency of ECOWAS Institutions, to promote the implementation of integration programmes geared towards the final version economic and social development of the region.

“To this end, the Authority adopts a 7-Member Commission as the new size of the Commission beginning March 2022,” the communique said, adding that the Chairperson of the Authority of Heads of State and Government has been mandated to continue his efforts relating to the allocation of statutory positions and streamlining operational costs in ECOWAS Institutions.

On the proposed mechanism of rotation of ECOWAS Member States’ candidatures to the Chairmanship of the African Union, the Authority took note of the report on a Mechanism to ensure predictability, transparence, and fairness in the rotation process within ECOWAS Member States for the occupation of the position of Chairperson of the Assembly of the African Union when the turn of ECOWAS arises.

The Authority also endorsed the criteria set up in the report and the subsequent rotation proposed within ECOWAS Member States for the chairmanship position of the African Union.

The Heads of State and Government appointed HE Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana as Chairman of the Authority of Heads of State and Government for another one (1) year term.

The Heads of State and Government also decided to hold the next Ordinary Session in Abuja, Federal Republic of Nigeria on Saturday 18 December 2021 and expressed sincere appreciation to H. E. Nana Addo Dankwa Akufo-Addo, President of the Republic President of the Republic of Ghana, Chair of the ECOWAS Authority of Heads of State and Government, for his leadership in steering the affairs of the Community.


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Published on 10.02.2021

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