Leaders of the15-nation West African bloc have called for greater structural reforms as they step up efforts for the introduction of a shared currency, which is to be launched in 2020.
In a statement issued at the end of an ECOWAS summit in Abuja Nigeria, the leaders said they have adopted ECO as the name of the proposed currency.
The bloc, which represents an estimated population of about 385 million said it acknowledges a 2018 report which underlined “the worsening of the macroeconomic convergence” and urged members states to do “more to improve on their performance” as the deadline for the establishment of the monetary union approaches.
