West African ECO cannot be launched this year because of coronavirus – Alassane Ouattara

Eight Former French colonies announced earlier this year, the planned adoption of a common currency to replace the much-criticized French-backed CFA franc; the arrangement came with a package set to put an end to the exploitative 50% foreign exchange reserves kept in the French Treasury, see to the withdrawal of French representatives from the region’s […]

Buhari condemns the adoption of the French-backed ECO by Francophone countries

Muhammadu Buhari, President of Africa’s economic giants Nigeria, has expressed his dissatisfaction towards an earlier decision taken by the West African Monetary and Economic Union (UEMOA) zone. President Buhari disclosed in a statement that, UEMOA’s decision to adopt the French-backed ECO as a replacement for CFA Franc ahead of other ECOWAS member states gives him […]

Nigeria studying ECO move by Francophone West Africa – Finance Minister

The biggest business news doing the rounds in Africa over the past couple of months has been the adoption of the ECO, as ECOWAS’s single currency, replacing the CFA franc after decades of use of the French currency. The ECO will be the single currency used by members of the 8 UEMOA nations later this […]

Ghana backs West Africa’s Eco currency but opposes euro peg

One of West Africa’s bigger economies, Ghana, has thrown it’s weight on the one currency system for West African states, replacing the CFA franc, but does not agree with the attachment the currency will have with France. In a statement by Ghana President Nana Akufo-Addo, he expressed his country’s desire to be part of the […]

On the Eco Currency for West Africa (The Francophonie Eco) – Sulayman Gaye

1) The Eco, it is understood will be pegged to the Euro. Pegging has both pros and cons. Pegging the Eco against the Euro can stabilize inflation in Ecozone if the Eurozone enjoys stable inflation ( price satellite). On the other hand, pegging can lower the price of exports while increasing those of imports thereby […]

Who owns the right to print and distribute the ECO to West African countries?

The controversy surrounding the new common currency for West African countries keeps breeding lots of concerns ranging from the general perception that, there is a grand scheme being set up to seize the economic freedom of the entire West Africa. Many people are of the view that, issues concerning the initial economic relationship that existed […]

Ghanaian government declares a willingness to adopt the new ECO

In a statement released by the communications directorate at the seat of the President on December 28th, 2019, signed by the communications director, Eugene Arhin, the government of Ghana welcomes the new ECO as a step in the right direction, declares an intention to adopt the currency and as well urges other member states to […]

West African ECO; a mere change of name or a dream come true?

Seven West African countries have adopted their long-proposed common currency called ECO to replace the much-criticized CFA Franc. As part of the arrangements, former French colonies will no longer hold the usual exploitative 50% percent of their foreign exchange reserves in the French Treasury. In addition, French representatives that serves on the union board that […]