in Short

ECOWAS: temporary suspension of the Convergence Pact

Due to the exceptional expenses incurred by the Member States, due to Convid-19 and the foreseeable consequences of the second wave, the heads of state of ECOWAS (Economic Community of West African States) are coming to decide to suspend the Convergence Pact in 2021. In the meantime, a multilateral mechanism will be set up allowing the use of national currencies for the payment of community transactions. All this sends back the ECO currency in gestation in the embryo …

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