Chiefs of the 15-nation Economic Community of West African States (ECOWAS) regional bloc said in 2019 the Eco would be set up in 2020. [AFP]Hopes raised by West African leaders of finally launching this year their "Eco" common currency, in the pipeline for three decades, have faded as the coronavirus crisis and squabbling over severing the remaining monetary ties to former colonial ruler France snarl progress. The push by CFA franc countries to move ahead alone has riled English-speaking neighbours like regional powerhouse Nigeria, even as the reform doing away with the franc has blown through a July deadline. While Prao said it would be positive for West African nations to have a common currency, he also struck a note of caution. "When I was a minister in 2000, we were already talking about getting it done in five years," said Anikpo, who long fought for an independent common currency.

Source: Daily Nation September 28, 2020 06:22 UTC