Niger, Mali and Burkina Faso – three former French colonies now run by military regimes -, grouped within the Alliance of Sahel States (AES), “have (monetary) experts and at the right time , we will decide,” he continued. “Currency is a sign of sovereignty,” continued General Tiani, and the AES states are “engaged in a process of recovering (their) total sovereignty.”
He assures that “there is no longer any question of our States being France’s cash cow”. The Nigerien leader did not give details on the possible circulation of a future currency. This could, within the AES, replace the CFA franc, currently common to the eight member countries of the West African Economic and Monetary Union (UEMOA), including Niger, Burkina Faso and Mali. part.
Military coups in the three countries
The strong criticism formulated by these three Sahelian countries and their supporters against the CFA franc could also lead them to leave the UEMOA. In November, the AES Ministers of Economy and Finance notably recommended the creation of a stabilization fund and an investment bank.