Reform of the CFA Franc in West Africa – Introducing the "Eco" (February 2020)
Client Briefings
Introduction
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On 21 December 2019, the French Minister of Economy and Finance and the President of the Council of Ministers of the West African Economic and Monetary Union (WAEMU) signed an agreement which provides for a reform of the CFA Franc used in the eight countries of the WAEMU zone (Benin, Burkina Faso, Guinea-Bissau, Côte d'Ivoire, Mali, Niger, Senegal, and Togo). As of 2020, the CFA Franc is intended to become the "Eco".
