WOW! WEST AFRICAN COUNTRIES TO LAUNCH THEIR NEW SINGLE CURRENCY ( ECO)IN 2027. ECOWAS' ECO CURRENCY
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- Опубликовано: 23 окт 2024
- ECOWAS pushes launch of single currency to 2027.
Mr Jean-Claude Brou, President of the Economic Community of West African States (ECOWAS) Commission, has said that the community has resumed convergence to launch of the ECOWAS single currency “ECO” in 2027.
Brou made this known on Tuesday while delivering reports of the ECOWAS Commission before the ECOWAS Parliament during the ongoing 2022 First Ordinary Session of the Parliament in Abuja.
guardian.ng/ne...
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If Africa leaders care about their own people this is the best thing to do
It will be an excellent move and I pray to Almighty God 🙏 for it to be as promised for West Africa and Africa as a whole in Jesus Mighty Name, Amen.
Slave. Take your "jesus" to france.
Africa is one we need to unite ourselves i am in full support we need to have one passport
It’s the best thing to do for now, but I would like if this currency could be adopted by the whole Africa. Let’s take it easy for now and eventually we shall reach there…👏🏽💪🏽
true talk? Bro
Lord please show these damn sellout leaders that unity is the only pathway towards Africa liberation. Amen!
Amen 🙏🏽
Hopefully France or another European nation doesn’t hijabs this plan. African currency is so messed up that a single currency back by gold is the best solution
Amen!
Well said!
I swear to God
What about cfa
Hopefully it will be printed somewhere in Africa, say Nigeria for example. It should BE INDEPENDENT FROM other currencies like $, Euro, etc. Back it with Gold!!!
Gold from our soils!!!
Hehe, let it be at par with their Euro. Those white monkeys might drop the price of gold.
But I doubt, they cant. We join BRICS + The new comer Saudi Arabia...
This is still very silly.. .having the ECO pegged on to the EURO is a big mistake eventhough it is done to hedge against volatility.
It still makes no sense what so ever bcos that means that Europe will have a final say on the valuation of this currency. Additionally,
Europe will be able to use trade manipulations to ultimately devalue the ECO currency !!
This is why the BRICS model of trade and currency pegged towards commodities {gold, gas, oil, fertilizers, cobalt etc} is the real deal.
The ECO must be pegged unto commodities & NOT an European economy.... regardless of volatility threats.. .!!!
These so-called African leaders have no real vision, especially when it comes to dealing with our enemies here on this planet--we are never going to get anywhere with them--Do you ever hear them talking about One Africa, one currency, and one government? no)
they are talking about 2027, when they won't even be around--because the real leaders who are going to lead the future of this continent are already being groomed behind the scenes & very few blacks are aware it---and black leadership on this planet is going to lead, morally and spiritually, because this is what the new leadership of the black world going to be based on)_
-well, I just saw a vid, where a black woman finally talked about it, even if when wrote about it at least three years ago, she ignored it--am glad that she finally find out on her own and that she is informed other blacks about it-----the current group of African leaders will be taken down, many of them will face military tribunal for their criminal activities and their compromise with the West
There is a lot more to this, but I'll leave it there--but look out for the signs of this, this year--because the signs of black leadership will show itself
African leaders with no brain. Those economist didn't look inward as you did. Let's see come 2027
@scott ola
I am glad to see you critically thinking. All the mumus jumping up and down in the comment section are dancing to the tune of their own demise have no idea that they are being pushed from the frying pan into the fire. The African plantation is getting a face lift to become more efficient at benefiting the masters. This is not for the benefit of Africans. The elites are planning the East African version as well. Stay awake my brother.
Hey Hey Hey....Pegging to a particular currency has nothing to do with guarantee to that currency.
When you peg to a currency, that means equivalent in value, not more, not less. Of course they did not have to peg it to Cedis or Naira.
They sure won't accept Euro as Guarantee, because we have far more resources in Gold than Europe's reserve can ever yield.
Do you understand it now? Pegging has nothing to do with this, it's a simple way of expressing the value in the International Market.
I have already said it somewhere that, after pegging in monetary economics, the total value of say Leones in ECO will be known, or Cedis, or Guinean Francs.
Your local currency will then be used to buy the ECO in it's equivalence for local use. That's how all countries will get to get their equivalent in value of the ECO. If one country wants to drop out later, their investment will be returned plus the calculated economic algorithms. If it's less or more will depend on the viability of each economy concerned.
When this is done, I mean at the inception of the new currency, everyone must have to work very hard to stay above board, otherwise that country will not be able to cope.
It will promote high investment value chains, hard work and equity. Laziness will not be encouraged, neither will corruption and capital flights from any side. Everyone will be under watch, which will be good for us all.
God I pray for this possibility ameen
Great job, ECOWAS. A great step in the right direction. Eventually we need a single currency for the whole continent. Also One Reserve bank, One Passport, One Army, One Federal Government, One President, One Country called the United African States!!!!!
After all that u will still go to the IMF and ur leaders will still be purpit for the west . We will be dependent and dictated to .
@@emmanuelokine4394 the power of the tongue is still not fully grasped by Africans , if you keep speaking those negative things into existence it will be so
@Cyprian Tertullian, No we didn't!!!! We can't afford to have the leadership of such monstrosity hijacked by the kind of wicked leaders Africa has been bedeviled with, over the years. However, we can still have a loose confederal arrangements regionally across Africa, similar to the relationship between USA and Canada.
Never happening and if it did it would be a geopolitical disaster. A more powerful & functional African Union is good enough.
Just call the continent Africa…. Just forget the united states logo…. Let’s stay far from this
Africans have started waking up from their sleep, this is a good big news in a right direction, one Love ecowas and Africa in general
💪🏻 United is more powerful
The halting of the lunching of the currency is not because of the COVID please. The efforts and rolls out was jeopardized by some of the African leaders with the consent and support of France and some EU members.
It says the ECO is pegged to the Euro. That should be something that West African countries seriously need to think about. Being pegged to a currency West africa has no power in printing can be dangerous and is financial colonisation. When the European union prints currency, the value of their currency does not depreciate to the ECO because the ECO's value is tied to the Euro, while if the ECO prints currency, I suspect its value depreciates compared to the Euro. This is at the heart of the issue and why our leaders should stop signing African futures away through the back door. Pegging is bad idea and ONLY is fair when it goes both ways. By this I? mean, if the ECO value goes down, the Euro's value should go down too, but if its just one way, that is a disaster worse than being invaded by a 1 million soldier army.
Recently the G20 printed out over $20 Trillion dollars to deal with Covid but their currency value remained the same because most of the world currencies are pegged to the Dollar or Euro, Yuan. What this means is that G20 can generate as much currency as they want and the other pegged countries would have to absorb the blow (Which it is) of the G20 extra spending power, without being able to do much about it. THAT IS WAR, using currencies and nations are defeated without even firing a shot. Africans have to wake up to the multidimensional wars being waged today.
Based on what you've said, It seems like the ECO is pretty similar to what I would call an "ECOWAS version" of the CFA franc.
You're doing a great job. Love your work
Please do not destroyed our Naira, we do not want foreign entity to print Nigeria money. Nigerians love naira as it is.
Great Ecowas!
Africa is now Rising.
1. The ECO, single currency and monetary union, has always been a great idea
2. Is it achievable? Depends on if the Franco-phone countries can extricate themselves for the grip of France - Very laughable situation there
3. Pegged to the Euro? For what exactly should that be? Why not value it based on Commodities, Innovations, size of economic activities, net exports, and other intangible assets?
Please check internet for African innovativon before you comment
@@thimothyade6385 1. Maybe you shouldn't over-rely on the internet for info - not everything is on the internet and not everything on the internet is correct.
2. Innovation is not the only item listed there but if you feel Africa doesn't have any, the ignorance and shame are on you
3. So you're better off pegging the ECO to the Euro, which will give the Euro a reserve currency status over the ECO and those guys can manipulate it to hold our monetary policies hostage? That's the current situation that France placed the West African CFA
4. Prior to Petro-Dollar, currencies were backed by gold, which is a commodity. Now that the world is de-dollarizing, is gold reserves alone still enof to value currencies?
If country A has 500 ounces of gold reserves, doesn't produce anything else but is a tourist attraction and country B has 150 ounces of gold and is a tech innovation hub, should their currencies be valued just based on gold reserves?
Go to school and stop exposing your ignorance on public platforms.
Pegged to the Euro means it will be equivalent in value to the Euro, not more or less.
I don't understand why it can not be stronger, because we have more natural and human resources a thousand times more. If I may say.
Our population is more than twice more, and our resources I mean is a million times more than Europe's.
We should be looking at half equivalent to one Euro. Let's see how our youth won't prefer to stay home
@@jaydiomoyeni7436 Not about population than Europe, but productivity and economy. Yes you are more populous than Europe, but they are richer than you through productivities by adding value to raw materials which Africa failed to do since independence to date due to leadership failure.
We have poor leader without vision of what it means to be a leader.
A leader ought to be knowledgeable than most of those he's/she's leading, and prepared to lead them to the right and good place they need to be not where they want to be. That is leadership duty.
Watching from The Netherlands 🇳🇱
2027 is a long time ⌛. The should have implemented it to be 2024.
Aww bro that's what I was also expecting 2024 period
It's not how Africans butcher a cow in abattoir without knowledge of the beef . Look into butchery in France, Italy and Japan and the effort they put into it . Having a single currency is going to be an intensive PROCESS.
They are fools. This single currency for ECOWAS didn't just start now. They have postponed it more than 5 times. What are they waiting for? Very visionless leaders. If you have done ECOWAS passport what is so difficult to introduce and implement single currency for the ECOWAS region? Africa will forever remain underdeveloped with these kinda leaders that are there in Africa. Aimless leaders. Nonsense!
Is good africa one money no border free viza one passpoty end unity
I hope it's not France printing the money🤔.... And pegged to Euro? This is giving me concern.
Rights !!! It was not the original plan
Nigeria would most likely print the notes since it is the only Nation in West Africa hat can print its own currency
@@Orion2525 Hopefully so.
No!!! Nigeria will print since it the only country that print now.
Hmm I really wonder what those our west African brother are doing since they have their Independence why are they keep around France to discerned for them, no wonder they always try to distabilize Nigeria so that those good planes about African we not possible anyway God we see us through amen.
We love the idea and support it 100 %❤🤩🤩🤩❤❤
We need a gold standard backed Afro for the whole of Africa! And that last year not in 5 - 10 years.
Any currency that is pegged to another currency is not a currency but an extension of the other currency. Resource-rich Africa should not fall into this trap of a disguised colonization.
France should not be allowed to print this currency for us . We don’t need the French government please.
Why push it that far 2027 it's a long time
Good job
Lets hope France doesn't try to hijack it again.
PEG TO GOLD, OIL GAS, RARE EARTH METALS....NOT TO PAPER MONEY...
What's the value of the Mineral? Pegging and guarantee are not the same. You're mixing both up.
Pegging is talking about it's equivalence. You don't want to make it too hard or too soft. It's going to be one-to-one with the Euro
Africa united should start by the ECO. And many more will follow… may god bless Africa.
The issue with this issue is the Eco will be under guidance of France and paired with EURO. With the situation between Russia and Ukraine make economical prediction uncertain and dangerous to be tight to Europe knowing they will go to a severe recession. Our recession will be less affected normally, because of our countries growth which are the top in the world right now
COME ON MOTHER AFRICA GO GO GO AFRICA. UNITED STATES OF AFRICA
This has-been delayed so many times that I am skeptical it will really happen. Hopefully. I am wrong.
You are absolutely not wrong because I heard of Eco single currency in my early high school days. It's almost 30 years now since I finished high school.
Our leaders are good to have meetings and say things that fown their hearts they know they will never implement them
you are right that the propaganda they fed us with
Thanks to french africa
I reserve my comment.
We are really Ready to us it .all over Africa
This will be a greatest achievement of our leaders in Africa but it should favor the poor not just for aquire more luxury of those corruption leaderships I hope it should be great benefits to all citizens this way of egalitarian society.. God bless Africa ❤️❤️🙏
We have done our best sustaining the economies of the West. We deserve credit for supporting you right from colonization with all the natural resources you fraudulently took away from us, leaving us in extreme poverty.
It's time for us to invest fully in our continent, and develop the lives of our people, and society.
We are not toys you play around with. We are not roulette you enjoy playing. Africa is not a casino.
We are human beings, we are Africans. Our livelihood matters.
-Chika Jackson Njoku.
Am a true supporter united states'of Africa i pray for a successful single currency so we can cut our dependant on the dollar because its toxic.
All of Africa needs one currency….
Francophones need to understand that ghana nd Nigeria won't join if France is involved like last time
Nigeria dictates how it goes
@@chrisoghenetegamaloney5799 french speaking countries would not be a part of it
Respect
Y is it paired to the Euro, back it by Gold
A welcome development
2027 is like another 30 years, what are they waiting for now 2023 or 2014?
Great 👍
Ghana is officially BANKRUPT. Some Banks are denying their customers their savings withdrawals whiles others are putting a limit on how much one can withdraw at a time.
Nonsense
Stop lying
@@PaulPaid You will continue to suffer in your denial. Fools who are loyal party foot soldiers instead putting Ghana first. Low IQ people.
@@PaulPaid Are your brain cells functioning?
The looking out to the Western USA European countries for Africa Development and Unity is totally stupid,we Africans must unity and up lift ourselves as China Russia did.
Peg the dollar to gold and use a basket of international currencies to infom, international trade, exchange rates, and monetary policies.
Why pegging Eco to Euro 💶, I disagree with this.... Europe must not control or have a say on what the currency and worth of the economy....must Europe keep using Africa economy to build his own, why not allowing us have total freedom...I will soon beat some one child one day 😓
Pegging is equivalent in value nothing more
Good idea Unity is the key
These things are supposed to be kept secretive. The enemy will have a counter plan.
French President Emmanuel Macron has been causing a lot of problems. It has resulted in delays.
They have already they want it pegged to the euro
France is undermining west Africa single currency process.
Why would the currency be pegged to the euro? In an early stage yes, but not on a permanent basis like the cfa franc.
The single currency in becoming and named 'Eco' reminds the idea of the former French President Valerie Giscard d'Estaing, who in the framework of the single currency of certain countries in Europe, had proposed the idea of Eco as the denomination of that single currency known today as Euro.
Watching from Los Angels.
It is not yet the best thing to do until a limit is sealed as to what a person can acquire in monetary wealth.
This is not going to be easy West African countries are not yet ready to help them self
If this happen I will glad over the idea
France 🇫🇷: we ain't letting it happen lol 😂
America : ohh so France u also saw what we are seeing ohkk give them guns now
Beautiful❤❤❤❤❤❤❤❤❤❤❤❤
Did she say 'pegged to Euro'...?
I hope now, Africa is printing their own money.
Up Eco
It's a good move 👏
But why must it be pegged to the Euro. Why not back it up in gold?
Because that’s not how currency works.😂
@@shangothunder1055 Please how does it work?
Back the currency with Gold and oil
Economic tangible development is certain after being illusive for over ten decades.
They've been doing that for around fifty years to zero avail
This money they're still contemplating upon should have been spent by my grandmother that died in 1988. If you want to send money from Benin Republic to Nigeria, you have to go some abracadabra first before the recipient can get access to it and they're all happy about that and still holding meetings.
They held the meetings and generations are going and coming.
Put the money in my account yesterday already. That's what I mean.
This is one of the main initiatives maumar Gaddafi spearheaded among his contemporary africa to have a common currency in Africa and want Africa to form a coalition as the United States of Africa with a common currency to introduce as Gold dinar.This did not go well with USA and wasn't allowed to come into lime light because to USA especially and even to UK, this will bring down dollars currency or lost its value and western world economy will also lost its value and bring the idea of neo colonialism to disappear.This idea aggravated USA the more and then decided to propel a political economic war against Gaddafi till he was killed together with his son in a tunnel in libya. I pray Africa should open their eyes and form a common vision, common mission, and common sense to liberate Africa from these incessant bondage.Africa need to cooperate,be committed, be resolute and be firm in their decisions.
Why not backed by gold
Africa needs one passport and one currency. simple
why not now, as in next year? why the delay for something that should been 2020?
Im not in support of this.... its still pegged with the EURO!!!!! might aswell still be using the CFA.
i doubt if this currency implementation will materialize. the last i heard, the francophone countries wanted the currency to be name after their CFA forgetting that that name is a currency forced on them by imperialist France. today they are proposing 2027 for its implementation, in that year there will be new governments in member countries who will oppose the implementation and the west will have develop a strategy to twat the implementation. if we are serious by this matter, lets implement it immediately now whiles we have time and back it up with the natural resources' gold/oil/cocoa etc. every innovation comes with its ups and down, lets brace ourself and get this done.
Please bear in mind what they did to Gaddafi, and don't let them in to create any "rebel groups" in West Africa to hunt down and murder the African leaders. African is more than big enough to have its own currency. Here is hoping and praying that the project materialize soon! 🤞
Africa is already set to have its Own currency in "2028", according to research.
I know this will surely work
Please expand it to central african coutries please
2027? Are these people ever serious about anything?
2027 is too long, they're not just serious about anything.
We want ECOs and Also the African currency.we can have two currency in africa.2027 is a very long time.itbshd be by 2024.simple
I thought the Lumi was for that...
🇳🇬🇿🇦🇬🇧Do it now coconut head 🥥 how long will it take you guys to print Africa ECOWAS money
this single currency has been in discussion before i went to university in 1995. they are still creating conditions till this 2023 they haven't finish the creating
Am so sure that the date will be postponed beacouse Africa have very good plans but never implemented
Until we see the reality on ground
To you every thing is WOW, WOW, 😂😂😂🤣🤣🤣
Who is backing this France or the colonial nations or black Africans?! 🇬🇲
Hhhmmmmm how true is this .
We can't wait tho.
We need changes as Africans and we can do it .
I hope this isn't just for fancies
West Africa currency should be stronger than pound because we have more resources than Britain
France won't allow the francophone west Africa to go that route.
2027?
Pegging to Euro?
This is just another empty hope.
In my opinion, it can be achieved earlier than 2027.
Pegging means value
not just Africa but the entire world will soon operate single currency
That's the ultimate ugly goal. 'One world currency '🧐👀☠️
Africa we move higher in Jesus name Amen 🙏🙏🙏
This is France CFA 2.0 it's also backed by France
🙏🙏 this has to happen and happen correctly!
Why 2027, why not now?
France will look for ways to frustrate the launch.
West African countries I salute alot not southen I don't know what are they waiting for
Senegal is the problem
Small Senegal can't be an problem
First to watch 👍👍👍
Africans counties need one currency for trading and investing ++++++
Exactly,even East African community will launch there currency soon