The announced end of the CFA franc in West Africa

The announced end of the CFA franc in West Africa
The announced end of the CFA franc in West Africa

Born in 1945, on the fringes of the Bretton Woods agreements, the CFA franc has since demonstrated great stability.
Comugnero Silvana / stock.adobe.com

INVESTIGATION – Decried as a colonial heritage, rejected by the new president of Senegal, the common currency pegged to the euro seems doomed in the more or less short term. Not without risk on the economic front.

Haro on the CFA franc. From Dakar to Bamako, via Abidjan and Lomé, African currency, seen as an anachronistic legacy of the colonial era and the persistence of French domination, is under fire from critics, vilified by African youth in need of he future, part of the elites up to the highest summit of the States. Does the emblematic election, at the end of March, of Bassirou Diomaye Faye as president of Senegal and the appointment of opponent Ousmane Sonko as prime minister, sound the death knell for the CFA franc? Both made its exit their hobby horse, brandished as a standard during the electoral campaign as an issue of national sovereignty.

Hostility is also evident in the three Sahelian countries – Burkina Faso, Mali and Niger – at the hands of military juntas that formed the Sahel Alliance. In retaliation to economic sanctions, the trio recently decided to slam the door of ECOWAS, the community of West African States, the bloc…

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