After the missed 2020 meeting, Togolese economist Kako Nubukpo, well known for his stance vis-à-vis the CFA franc, once again announces the Eco General Assembly. The event will be held in Lomé, the Togolese capital, from April 28 to 30, 2021.
“African expertise must be present collectively at the rendezvous of history, because what unites us is more important than what divides us”, writes the dean of the Faculty of Economics of the University of Lomé on Twitter .
In his analysis, the former Minister of Foresight of Togo recalls that “the current reforms (of the CFA franc) concern symbolic aspects. On the other hand, they do not affect criticisms of an economic nature, in particular the problematic nature of the fixed parity of the CFA Franc with the Euro and the chronic underfunding of the economies of the franc zone plagued by credit rationing such as double-digit real interest rates attest to this ”.
“I wish us more foresight in the plan to switch from the CFA franc to the Eco, which will be a major challenge for the year 2021 in which we must be the players,” said the former official of the Francophonie.
Initially scheduled to be held in April 2020, the idea of the States General of the Eco had germinated a few days after the announcement of the reform of the CFA franc made on December 21, 2019 in Abidjan by the Ivorian President Alassane Ouattara and his French counterpart. Emmanuel Macron. Kako Nubukpo said in particular that this reform project reflects “the imperative for the daughters and sons of Africa to come together to reflect together on the contours of the ideal Eco currency and to draw a roadmap likely to guide the heads of ECOWAS States for a rapid adoption at 15 of this currency which must be a real African currency ”.
