MONROVIA, LIBERIA-The Central Bank Governor, Henry Saamoi, has reaffirmed Liberia’s commitment to ECOWAS monetary integration.
Governor Saamoi said,” The country remains firmly aligned with plans to launch the regional single currency by 2027, despite global economic uncertainties”.
Speaking at the second joint meeting of the Economic and Monetary Affairs Committee of WAMA and the Macroeconomic Policy Technical Committee of the ECOWAS Commission in Monrovia recently, CBL Governor said,” Liberia’s selection as host reflects confidence in its macroeconomic stability and dedication to regional cooperation”.
He noted that West African economies showed resilience in 2025, with regional growth strengthening to 4.8 percent, inflation moderating, fiscal deficits narrowing, and debt ratios improving across several ECOWAS member states.
Governor Saamoi highlighted Liberia’s own performance, reporting 5.1 percent economic growth in 2025, a sharp decline in inflation to 4 percent by year-end, stronger external reserves, and compliance with key ECOWAS convergence benchmarks.
The CBL Governor urged member states to accelerate remaining institutional, legal, and technical reforms, stressing that sustained fiscal discipline, monetary coordination, and political will are essential to achieving a credible ECOWAS monetary union.
In a related development, the Director General of the West African Monetary Agency (WAMA), Boima Kamara, said the planned launch of the ECOWAS Single Currency (ECO) in 2027 faces a tough but achievable timeline with just one year remaining.
Speaking at the ongoing ECOWAS statutory meetings in Monrovia, Kamara commended the Committee of Governors and regional institutions for their leadership, oversight, and continued support to WAMA.
He said,” Global growth remains weak due to policy uncertainty and trade tensions, but noted that ECOWAS and Sub-Saharan African economies continue to show resilience”.
Kamara disclosed that WAMA is responsible for 78 of the 135 revised roadmap activities, with 22 already completed and others requiring accelerated action ahead of the single currency launch.
He stressed that adequate funding, timely decisions, and adoption of legal frameworks are critical to meeting the ECOWAS single currency launch timeline.