DAKAR, Senegal

West African countries will stop using the Financial Community of Africa (CFA) franc currency beginning sometime in 2020, Ivorian President Alassane Ouattara said Saturday.

Eight members of the West African Economic and Monetary Union (UEMOA) reached an agreement to use a new common currency called the ECO.

The ECO was the proposed name for the common currency that the West African Monetary Zone (WAMZ) planned to introduce in the framework of the Economic Community of West African States, or ECOWAS.

Ouattara’s remarks came during a news conference with French President Emmanuel Macron in Ivory Coast’s Abidjan province.


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