Sub-Saharan Africa
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Mali's Goita Accuses France of Printing Counterfeit CFA Franc Notes to Damage Malian Economy

Assimi Goïta  - Sputnik Africa, 1920, 23.06.2024
On the sidelines of the Saint Petersburg International Economic Forum 2024 (SPIEF), Ahmat Tahir Bakhit, the head of the Russian House in Chad, told Sputnik Africa that the CFA franc is a barrier to the development of African countries.
Mali's Transitional President Assimi Goïta accuses France of printing counterfeit CFA franc notes to damage the Malian economy.
The same tactic was used against Guinea in 1960, as the Malian leader noted in a speech in the Malian city of Sikasso on June 22.
This approach is part of the "three types of terrorism" facing Mali, he continued. These are:
armed terrorism;
media terrorism (lies and fake news "to turn us against each other");
economic terrorism.
A bank teller counts piles of new West African CFA Franc banknotes plus old-style  500 CFA notes, bottom-right, and old-style 10,000 CFA notes, top-left, at a bank in Dakar, Senegal Monday, Sept. 13, 2004. French West Africa is engaged in a massive, eight-country campaign to retire more than 1 billion euros (dollars) in aged, limp currency. - Sputnik Africa, 1920, 26.04.2024
'We Are Not Free if Our Financial Flows Controlled': Expert on Search for Alternative to CFA Franc
As an example of the latter, Goïta recalled the situation when Bamako turned to Guinea for its trade following the imposition of sanctions by ECOWAS in 2022. In fact, port fees for Malians in this country were three times higher.
Finally, the Malian leader called for the abandonment of the CFA franc, a colonial currency, in favor of a local currency.
In early June, the head of the Russian House in Chad highlighted that this currency, "imposed by another power," hinders African countries' growth.