The Alliance of Sahel States (AES), formed by Mali, Burkina Faso and Niger following their exit from the Economic Community of West African States (ECOWAS), is facing its first major economic credibility test after speculation over a possible shared currency ran into official pushback. The issue surfaced as rumours circulated that the bloc was moving quickly toward monetary integration, Africa Business Insider reported.
Mali’s Ministry of Economy and Finance moved to dispel the reports, stating that there is no official plan, roadmap or timeline for introducing a common AES currency. The ministry urged the public to rely on verified government communications, pushing back against what it described as premature and unfounded speculation.
The episode underscores the broader economic challenges confronting the AES after its departure from ECOWAS, a bloc that previously provided access to established trade, financial and monetary frameworks. Analysts cited by Africa Business Insider noted that currency coordination requires deep institutional alignment, which the new alliance has yet to build.
Economists say that while a shared currency could eventually support intra-bloc trade and policy coordination, the AES’s immediate priorities remain security cooperation, infrastructure development and economic stabilisation. The currency rumour setback highlights the complexity of translating political alignment into credible economic integration outside the ECOWAS system, according to Africa Business Insider.
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