From CFA Franc to Eco: the end of an era? [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.

Eco…
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