Faced with the reluctance of the West African Monetary Zone (WAZMA) led by Nigeria and Ghana, regarding the single currency of ECOWAS (Eco), the President of the Community of West African States (ECOWAS), Mahamadou Issoufou, wished, this Monday, September 7, a discussion on the conclusions of the last summit of the Zmao.

Indeed, the Convergence Council of the Zmao affirmed that "the decision to rename the Fcfa Eco in 2020 was not in line with that of the ECOWAS Assembly of Heads of State to adopt the Eco as the name of a single currency independent of ECOWAS".

In addition to the issue of convergence criteria and that of parity based on which the English-speaking ECOWAS countries had categorically refused, Mahamadou Issoufou insisted on the impact of Covid-19 which also disturbed the timing of the roadmap of the ECOWAS currency. Which was to be launched in June 2020. For Mahamadou Issoufou, this 57th ordinary summit was to be an opportunity to look at this new currency "while maintaining a gradual approach for the launch of the common currency in accordance with the recommendation of the Task Force on the acceleration of the monetary program".

Apart from the Eco, the economic situation of the ECOWAS area is also of concern to the Nigerien president: "We were on the path of economic progress when we were hit hard, like the rest of the world by the Covid-19 pandemic. This year, our region will experience an average growth rate of -2.1% instead of 3.3% expected, "lamented the Nigerien President. In this vision of moving from ECOWAS of States to ECOWAS of peoples, Mahamadou Issoufou considered that the challenges are enormous but achievable. Since 2001, the Member States have posted an average annual growth of 4% when that of the continent was estimated at 3%, before the coronavirus.