The convergence pact, which should lead to the introduction of the Eco to replace the F CFA, has been suspended for two years. The decision was announced by the Minister of Economy, Finance and Development, Lassané Kaboré during the plenary session of the National Assembly held on May 4, 2021.For the exchange rate, countries have decided on a mechanism based on a basket of currencies. To this end, the countries of the West African Economic and Monetary Union (WAEMU) have decided to observe a halt in the implementation of the West African single currency project, the ECO.

"We have given ourselves until  2024 to come back and continue the work of fixing irrevocable parities, i.e. the equivalences between the ECO and existing currencies in the ECOWAS area," said the Minister of economy, finance and development, Lassané Kaboré in front of the deputies.