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More than two decades after it was first proposed by the Economic Community of West African States, West Africa’s single currency project is showing renewed institutional momentum. Central bank governors from 12 member states recently convened in Monrovia, Liberia, in what represents one of the most coordinated technical engagements in recent years to advance preparations for the Eco. The meeting brought together monetary authorities from Nigeria, Ghana, Liberia, Sierra Leone

West Africa is entering the coming year under the weight of accumulated pressure from multiple governance and economic events in 2025. Political authority and regional institutions are strained, and social resilience is being tested by insecurity, economic hardship, and climate shocks. For policymakers, investors and analysts, the key question is where shocks to the system will occur, and the possible disruptions that may result from them.