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West African countries that meet the conditions must declare together if they will join a common currency for the region by 2020, said Tuesday the President of Côte d'Ivoire, Albadane Ouattara.
The idea of a West African common currency was first proposed nearly three decades ago in the hope of boosting cross-border trade and economic development.
The talks were, however, tainted with disagreements over what some regard as the African version of the euro.
Last month, ECOWAS, the Economic Community of West African States, consisting of 15 members, decided to call the motto "Eco".
"We hope that this will be possible as soon as possible, it is the wish of the people," Ouattara said in Paris after a meeting with French President Emmanuel Macron.
"Everything depends on the will of each state Ivory Coast respects the criteria for rapprochement in 2020 and the others too, but some do not."
Eight ECOWAS countries – Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo – jointly use the CFA franc.
They are moored to the single European currency and are gathered in an organization called the West African Monetary Union, or WAMU.
But the other seven ECOWAS countries have their own currency, none of which is freely convertible.
ECOWAS leaders have already acknowledged that it is unlikely that the 2020 goal will be achieved but are committed to moving forward while accepting many obstacles.
Analysts believe that Nigeria – the economic engine of the region – is a major problem, which would dominate any future currency area and was skeptical of its benefits.
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