Africa's Last Colonial Currency2/20/2021·DOI·Read paper
Abstract
The French authorities regularly claim that the CFA franc is an ‘African cur-
rency’. ‘The CFA franc belongs to Africans, the future of this currency […]
belongs to Africans’, said the French finance minister Michel Sapin on 11
April 2016, during a visit to Senegal. The African authorities say the same
thing: ‘The CFA franc is an African currency, managed by Africans’, said
the governor of BCEAO, Tiémoko Meyliet Koné, at the end of 2016. But the
facts contradict these statements: the years go by, but the French state con-
tinues to hold the reins of the CFA system. We see it in France’s presence
within the institutions of the franc zone and in the way in which the major
changes concerning the CFA franc have occurred in the last 30 years.
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