{"id":26295,"date":"2023-03-15T08:57:16","date_gmt":"2023-03-15T08:57:16","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/west-african-cfa-franc-reform-whats-changing-in-2020"},"modified":"2023-03-15T09:35:24","modified_gmt":"2023-03-15T09:35:24","slug":"west-african-cfa-franc-reform-whats-changing-in-2020","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/west-african-cfa-franc-reform-whats-changing-in-2020","title":{"rendered":"West African CFA franc reform: what\u2019s changing in 2020"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Lesotho. <\/strong><\/span><a name=\"start-reading\"><\/a>Before the Eco can replace the CFA franc, as announced in Abidjan on 21 December 2019, a number of technical, legal and political hurdles must be cleared.<\/p>\n<p>The date of the new currency\u2019s introduction is impossible to predict at this time. To date, only the monetary agreement has been finalised. It will replace the 1973 agreement between the eight Union Economique et Mone\u0301taire Ouest Africaine (UEMOA) member states and France.<\/p>\n<p>The new agreement was signed on 22 December 2019 by all ministers of finance of the nine governments concerned, but no information is known about its content because the African ministers did not release it to the public.<\/p>\n<p>Prior to the upcoming Economic Community of West African States (ECOWAS) meeting, set to be held in June 2020, there are several steps left in the transition process:<br \/>\nThe transition from the CFA franc to the Eco is shaping up to be tricky.<\/p>\n<p>If markets get anxious about the new currency\u2019s risk of instability, the Eco\u2019s exchange rate could become highly volatile. Monetary turmoil resulting from such market fears would inevitably impact economic growth across West Africa.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/lesotho\">Lesotho<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Lesotho. Before the Eco can replace the CFA franc, as announced in Abidjan on 21 December 2019, a number of technical, legal and political hurdles must be cleared. The date of the new currency\u2019s introduction is impossible to predict at this time. To date, only the monetary agreement has been finalised. It will [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":26294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[233,246,314,245],"class_list":["post-26295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-africa-press","tag-africa-press-lesotho","tag-african","tag-lesotho"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>West African CFA franc reform: what\u2019s changing in 2020 - Lesotho<\/title>\n<meta name=\"description\" content=\"Before the Eco can replace the CFA franc, as announced in Abidjan on 21 December 2019, a num ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/west-african-cfa-franc-reform-whats-changing-in-2020\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"West African CFA franc reform: what\u2019s changing in 2020\" \/>\n<meta property=\"og:description\" content=\"Before the Eco can replace the CFA franc, as announced in Abidjan on 21 December 2019, a num ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/west-african-cfa-franc-reform-whats-changing-in-2020\" \/>\n<meta property=\"og:site_name\" content=\"Lesotho\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-15T08:57:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-15T09:35:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2023\/03\/postQueueImg_1678860256.40.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"732\" \/>\n\t<meta property=\"og:image:height\" content=\"419\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/west-african-cfa-franc-reform-whats-changing-in-2020#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/west-african-cfa-franc-reform-whats-changing-in-2020\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"West African CFA franc reform: what\u2019s changing in 2020\",\"datePublished\":\"2023-03-15T08:57:16+00:00\",\"dateModified\":\"2023-03-15T09:35:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/west-african-cfa-franc-reform-whats-changing-in-2020\"},\"wordCount\":204,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/west-african-cfa-franc-reform-whats-changing-in-2020#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2023\/03\/postQueueImg_1678860256.40.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Lesotho\",\"African\",\"Lesotho\"],\"articleSection\":[\"all news\",\"files\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/lesotho\/all-news\/west-african-cfa-franc-reform-whats-changing-in-2020#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/west-african-cfa-franc-reform-whats-changing-in-2020\",\"url\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/west-african-cfa-franc-reform-whats-changing-in-2020\",\"name\":\"West African CFA franc reform: what\u2019s changing in 2020 - 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