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(Business in Cameroon) - ECO (the common currency proposed to replace CFA Francs in the West African Economic and Monetary Union-WAEMU) will not be launched this year as France and West African leaders announced previously, according to Ecofin Agency.
Indeed, to date, only the procedures initiated by France for the launch of that common currency are known. On December 10, 2020, the country’s parliament approved a special bill for the amendment of its monetary cooperation agreements with the WAEMU.
In an article published on its website on December 10, the Directorate General of the Treasury (DG Trésor) informed that the adoption of the special bill was a decisive step in the implementation of the reform initiated by the signature of a monetary cooperation agreement in Abidjan in December 2019