Work to put the single currency of the Economic Community of West African States (ECOWAS) into circulation has just been postponed to a later date. A new convergence pact should be discussed by the ECOWAS countries and will enter into force on January 1, 2022. The Heads of State have decided to postpone until January 2022 the resumption of the application of their convergence pact. This decision comes because of the Covid-19 pandemic which has led to additional expenses. This keeps governments away from the application of criteria, in particular on the debt and the budget deficit. Some economists, speaking out on the subject, argue that the Covid-19 pandemic cannot be the only reason for the postponement of the ECO currency. They touch the finger, the divisions existing between the countries of the UEMOA and the others, in particular Nigeria.
ECOWAS therefore explains that the common currency is postponed. This currency common to the ECOWAS countries may not see the light of day before 2025.