FrancAfrique

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The Populists are Right – How the Franc CFA Impoverishes Africa

By |2019-03-03T21:23:41+00:00February 7th, 2019|Categories: Publications|Tags: , |

By Lontum E. Nchadze  (PDF Version) In the fall of 2011, and in the wake of Europe's sovereign debt crisis, panic soared in Franc-Afrique currency markets as widespread rumors of a possible devaluation of the Franc CFAby the French treasury occupied the day. Very few could be ignorant of the catastrophic effects of such an action: an increase in the price of imports, a liquidity crisis with soaring inflation, because it had happened before.Given that CFA zone countries were nowhere close to the decade-long economic catastrophe that prompted the 1994 devaluation, the rumors fueled speculations that France was moving to a [...]

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