Central bank governors from 12 West African nations are meeting in Monrovia, Liberia, to finalize plans for the launch of the region’s single currency, the ECO, scheduled for 2027. This three-day meeting is a crucial step for the Economic Community of West African States (ECOWAS) as it seeks to deepen economic integration among its 12 member countries.

• The ECO is expected to operate under a flexible exchange rate regime, with price stability anchored by a defined inflation target.
• Boima Kamara, director general of the West African Monetary Agency, stated that while the path to monetary union remains demanding, success is attainable with decisive and pragmatic action.
• To qualify for the monetary union, member states must meet criteria such as maintaining a budget deficit of no more than 3 percent of GDP and keeping annual inflation below 10 percent.
• Liberia’s Central Bank Executive Governor Henry F. Saamoi revealed that ECOWAS’ economies recorded growth at 4.8 percent in 2025, improving from 4.3 percent in 2024.