Business Africa
Ivorian President Alassane Ouattara announced an overhaul of the CFA franc, a currency used by eight states in West and Central Africa, most of them former French colonies.
Supporters of the CFA franc say the link to France provides currency credibility and price stability.
Critics say the arrangement is “post-colonial,” preventing countries from exercising monetary sovereignty and enabling France to wield clout in its former colonies.
Economist Samuel Mathey gives his take on the challenges that may ensue following the adoption of this new currency.
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Muhammadu Buhari's legacy: higlight of his presidential tenure
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Kenya: Visa-free travel now available for many African and Caribbean countries
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ECOWAS calls for restraint in violent protests in Togo
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Paraguayan town celebrates vibrant Kamba Ra'anga festival with masks, fire and tradition
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Sierra Leone’s Bio takes over as ECOWAS chair
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ECOWAS leaders meet in Abuja amid regional tensions and leadership transition