West African economic policymakers and experts gather in Monrovia to discuss the progress and plans for a proposed single currency for the region, known as the ECO.
Economic policymakers, central bank officials, and regional financial experts from West Africa have convened in Monrovia for the second ordinary meeting of key technical committees from the Economic Community of West African States (ECOWAS) and the West African Monetary Agency (WAMA). This important meeting is part of a series of regional discussions aimed at advancing plans for the introduction of a single currency, known as the ECO, with a revised target set for 2027.
During the opening session, Henry F. Saamoi, the Executive Governor of the Central Bank of Liberia, emphasized the significance of this gathering in furthering regional economic integration. The discussions are focused on enhancing monetary cooperation among the member states, particularly as they work towards establishing a unified monetary policy and regulatory framework that would facilitate the introduction of the ECO.
As the region moves toward a single currency, the meeting serves as a platform for enhancing collaboration among finance ministries, central banks, and other regional institutions. The progress made during this meeting is expected to play a crucial role in meeting the 2027 target for the ECO, which is seen as a vital step in strengthening economic ties and fostering growth within the region.
