(…)-(FROM OUR STAFF):(2020) could mark the end of the colonial (« cfa franc ») currency in (8) west african french countries, when (ECOWAS)(west african community) introduces a new west african regional currency!Basically, it will be a win for african integration and a big loss for neo-colonialism!
-(REMINDER OF FACTS):
After (2) days of high level discussions, west african ministers and central bank governors recently agreed on a draft report on the establishment of a west african regional curency-(ECOWAS);The report will be reviewed by heads of states(JULY 2019) on the establishment of a new regional currency!Among the key issues agreed upon are the exchange- rate regime and the monetary policy framework;In consequence, the current ivorian finance minister,(ADAMA KONE) told the press at a ministerial level:(« We’ve established a roadmap; this means(AFRICA) is on a track to have a single currency which will replace the problematic (CFA) in (8) countries in (WEST AFRICA), provided they meet the convergence criteria!
-(ITALIA ACCUSED FRANCE OF UNDERDEVELOPING AND COLONIZING AFRICA)!
The (« franc cfa ») is a currency embroiled in controversy primarily due to its colonial roots:In the same trend, in (JANUARY 2019), Italy’s populist deputy prime minister,(LUIGI DI MAIO) accused (FRANCE) of underdeveloping and colonizing (AFRICA):Furthermore,he argues (FRANCE) is one of tose countries that by printing money for(14) african states prevents their economic development and contributes to the fact that the west african refugees leave their countries and then die in the sea or arrive on the italian coasts!(« LUIGI DI MAIO ») added that if (EUROPE) wants to be brave, it must have the courage to confront the issue of decolonization in (AFRICA)now!
-(« THE CONTROVERSY CONTINUES DUE TO THE SPEECH OF « ALLASSANE OUATTARA », HEAD OF STATE OF « IVORY COAS »T ABOUT THE « CFA » CURRENCY »!
‘(ALLASSANE OUATTARA), head of state of (IVORY COAST) since(2011) argued that the (CFA) currency is pegged against the « EURO CURRENCY » and has brought stability to west african by insulating it from inflationary pressure!Down the line, it has been analyzed as the rhetoric from an african puppet leader, namely in a remote control international system!