Central Bank of Liberia (CBL) Governor, Henry F. Saamoi has said that macroeconomic convergence in the subregion lies at the heart of member states integration agenda.
Governor Saamoi said recent assessment from regional institutions continued to show encouraging progress, as more member states are meeting the primary convergence criteria.
He said one significant milestone have been achieved in pooling, capitalization of the proposed central bank of West Africa in advancing the institutional and legal frameworks for its monetary union.
“While the improvement in macro-economic convergence performance are particularly encouraging, we must, however, not be complacent as significant challenges remain. We must therefore double our efforts, enable mediation and achievement of our economic and monetary union,” Saamoi.
He made the assertion on Monday, February 9, 2026, in Monrovia at the second joint meeting of the Economic and Monetary Affairs Committee of WAMA, and the Macroeconomic Policy Technical Committee of the Equals Commission.
Saamoi said the presence of officials from those institutions at the event reflects their share commitment to advancing monetary cooperation and sustained momentum towards the Equals Single Currency.
He said the joint committee stands as the technical backbone of Equal’s monetary integration architecture and today’s meeting provides the appropriate platform for collective reflection, strategic dialogue and decisive action
Samoi added: “This timely reminder speaks directly to the work before us, strengthening our convergence, deepening coordination and ensuring that a dream of monetary union transition from aspiration to reality.”
The global economic continues to grapple with shift in geopolitical dynamics, commodity price fluctuations, tightening financial condition and technological realignments, yet, West Africa continues to demonstrate resilience in this evolving environment as reflected in steel growth, moderating inflation and improving fiscal positions across member states.
“We must summon the courage to ensure that our progress translates into durable stability and shared prosperity, and that courage must guide our region’s determination to completely institutional, technical and policy reforms required for a credible and irreversible monetary union.”
“We plan to continue working collaboratively with all member states, the Equalist Commission, WAMA, WAMI, and all our development partners for the achievement of our share vision for a prosperous and resilient West Africa,” he said.
Iliyasu M. Bobbo, who proxied for ECOWAS Commissioner for Economic Affairs and Agriculture, Dr. Kalilou Sylla said, the regional body remains firmly persuaded that measurable and sustainable progress toward the ECOWAS Monetary Union, can only be achieved through strengthened coordination, structured cooperation and continuous consultation among all regional institutions and members states.
Bobbo said their individual mandates may differ, but their collective objective remains singular in improving the welfare of the citizens of the community.
“Experience has repeatedly shown that insufficient coordination leads to duplication of efforts, inefficient use of limited resources and outcome that fall short of regional expectation,” he said.
“It is for this reason that the commission consistently advocates closer collaboration among ECOWAS institutions and will continue to play its role as a facilitator of effective institutional coordination.”
He then cautioned his colleagues that their deliberation throughout the session should therefore aim to equip the ECOWAS Convergence Council, which is expected to meet on Friday, February 13, 2026, with a clear, actional and technically sound recommendations for submission to the Authority of Heads of State and government.
“Continuing along the same trajectory, without addressing persistent implementation gaps, is unlikely to yield the transformative outcomes we seek. The moment calls for renewed commitment, technical leadership and collective responsibility. I therefore urged you, once again to place the interest of the community at the center of your deliberation,” he said. Macpherson C. Marbiah writes/0886442881-0777250370