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ECOWAS was forced in 2021 to push back the introduction of the currency to 2027 due to the outbreak of COVID-19. The currency was proposed to boost economic development in the West African region and improve cross border trade. In addition, it is expected to be eventually merged with the Euro-pegged CFA franc, which is used by most French-speaking West African countries within the West African Economic and Monetary Union (UEMOA).