In a dynamic of economic sovereignty, the Alternative Report on Africa launched this Tuesday, May 25 informs that the single currency of ECOWAS, as it has been conceived so far, would only be a symbolic alternative to the CFA franc. According to RFWS, the ECOWAS single currency will not be able to allow a sovereign mobilization of resources. It would not allow a better mobilization of domestic resources since it is based on the same monetarist logic as the CFA franc. With the priority given to the fight against inflation against a backdrop of a split between monetary policy and fiscal policy.

The new RASA report informs that a real Eco would be based on real convergence, that of GDP/head and no longer, as in the case of the Eco-CFA, on compliance with the nominal criteria to converge towards the top three that constitute Cape Verde, Nigeria and Ghana. The Eco would have a flexible exchange rate regime framed by inflation targeting. The dynamic of convergence would then be quite different and the WAEMU States would lose their status as good students of convergence and therefore tractors of the process of implementation of the Eco.