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West Africa needs to be prudent after CFA franc - FT

FEBRUARY 15, 2020

Moving ‘eco’ to a basket of currencies is sensible, floating it less so

 

Last December, President Emmanuel Macron of France, standing next to President Alassane Ouattara of Ivory Coast in Abidjan, announced the end of an era. After 65 years, the CFA franc would cease to exist for eight African countries, seven of them former French colonies. It would be replaced by the “eco”, which would stay pegged to the euro, but less directly supervised by Paris. Many in west Africa said good riddance to what they deemed a “colonial relic”. One French newspaper declared: “The CFA franc is dead.”


https://www.ft.com/content/7f681978-480c-11ea-aeb3-955839e06441

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