https://en.sputniknews.africa/20230615/we-are-still-colonized-cfa-franc-must-be-replaced-with-local-currency-ivorian-official-claims-1059932774.html
'We Are Still Colonized': CFA Franc Must Be Replaced With Local Currency, Ivorian Official Claims
'We Are Still Colonized': CFA Franc Must Be Replaced With Local Currency, Ivorian Official Claims
Sputnik Africa
The CFA franc must be abandoned, and each African country must print its own currency on its own soil, rather than continuing with the present situation, where... 15.06.2023, Sputnik Africa
2023-06-15T12:26+0200
2023-06-15T12:26+0200
2023-08-03T10:49+0200
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Africa should have its own single currency, claims an Ivorian official who is at present attending the St Petersburg International Economic Forum (SPIEF), in an interview with Sputnik Africa.He adds that this currency must be convertible. The Colonies Francaises d'Afrique (French Colonies in Africa) franc is used by 14 African countries - 12 of which were formerly colonies of France. The currency is backed by a fixed value in euros, and is printed in France by the Banque de France. This means, Doue Tai lamented, that "we are still colonized".Doue Tai is advocating that the CFA Franc be abandoned and that the country attain sovereignty over its foreign policy.In late April, Ivorian President Alassane Ouattara indicated that discussions were underway on the issue of the single West African currency, the Eco, at the level of both the Heads of State and the Economic Community of West African States (ECOWAS) Commission.Initially scheduled for 2020, the launch of the single Eco currency was postponed by the 15 ECOWAS countries to 2021, and then to 2027.
https://en.sputniknews.africa/20230613/major-african-economy-to-switch-from-dollar-in-trade-with-brics-reports-1059894093.html
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cote d'ivoire (ivory coast), west africa, alternative currency, economic community of west african states (ecowas), africa insight, international
cote d'ivoire (ivory coast), west africa, alternative currency, economic community of west african states (ecowas), africa insight, international
'We Are Still Colonized': CFA Franc Must Be Replaced With Local Currency, Ivorian Official Claims
12:26 15.06.2023 (Updated: 10:49 03.08.2023) The CFA franc must be abandoned, and each African country must print its own currency on its own soil, rather than continuing with the present situation, where the CFA franc, backed by the euro, is printed in France, says Henri Doue Tai, President of the Ivorian-Russian Chamber of Commerce and Industry.
Africa should have its own single currency, claims an Ivorian official who is at present attending the St Petersburg International Economic Forum (SPIEF), in an interview with Sputnik Africa.
"I have to mint my own currency, or Africa has to band together to have a single currency. If that's not possible, have a confederal currency: we'll make a federation in the north of Africa, we'll make a federation within Africa, we'll make a regional federation," Doue Tai pointed out.
He adds that this currency must be convertible.
The Colonies Francaises d'Afrique (French Colonies in Africa) franc is used by 14 African countries - 12 of which were formerly colonies of France. The currency is backed by a fixed value in euros, and is printed in France by the Banque de France. This means, Doue Tai lamented, that "we are still colonized".
Doue Tai is advocating that the CFA Franc be abandoned and that the country attain sovereignty over its foreign policy.
"We want sovereignty, we really want it, and we are talking to our partners to make them understand that we are the ones who choose," the Ivorian official stressed.
In late April, Ivorian President Alassane Ouattara
indicated that discussions were underway on the issue of the single West African currency, the Eco, at the level of both the Heads of State and the Economic Community of West African States (ECOWAS) Commission.
Initially scheduled for 2020, the launch of the single Eco currency was postponed by the 15 ECOWAS countries to 2021, and then to 2027.
