ECO Archives - Jean-Jacques Cornish https://jjcornish.com/tag/eco/ The low down on African affairs Sat, 21 Dec 2019 22:00:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://i0.wp.com/jjcornish.com/wp-content/uploads/2020/05/cropped-Fountain_Pen_favicon-812.png?fit=32%2C32&ssl=1 ECO Archives - Jean-Jacques Cornish https://jjcornish.com/tag/eco/ 32 32 West African Monetary Union to reform French-backed colonial-era currency https://jjcornish.com/2019/12/west-african-monetary-union-to-reform-french-backed-colonial-era-currency/ Sat, 21 Dec 2019 22:00:00 +0000 https://jjcornish.com/2019/12/west-african-monetary-union-to-reform-french-backed-colonial-era-currency/ A block of eight African countries will launch a new currency to replaced  the colonial-era French-backed  CFA. The announcement was made when French President Emmanuel Macron visited the Ivory Coast. At the Petit Palace in Abidjan, French President Emmanuel Macron and his Ivorean counterpart  Alassane Ouattara – who currently leads the Monetary Union of West […]

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]]> A block of eight African countries will launch a new currency to replaced  the colonial-era French-backed  CFA.

The announcement was made when French President Emmanuel Macron visited the Ivory Coast.

At the Petit Palace in Abidjan, French President Emmanuel Macron and his Ivorean counterpart  Alassane Ouattara – who currently leads the Monetary Union of West Africa – announced that the revamped currency will be launched in 2020.

It will be called the ECO and will give the leaders of the eight West African countries that use it greater control over their currency.

The ECO will remain fixed to the euro and will broaden the possibility for the 15 members of the West African grouping ECOWAS to adopt the currency as well.

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