Senegalese President Presents Three Options for Breaking Away From CFA Franc
14:46 05.04.2025 (Updated: 16:48 05.04.2025)
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Senegalese President Presents Three Options for Breaking Away From CFA Franc
The establishment of a common currency within ECOWAS is one of the solutions in the quest for monetary sovereignty, Bassirou Diomaye Faye told local media.
However, he admitted that this process is moving very slowly.
The president also mentioned the West African Economic and Monetary Union as another alternative.
"But if it takes too long, we will emerge and mint our own currency," he said.
Faye is aware that such a transition cannot be achieved quickly. He said that "there are prerequisites in terms of stabilizing aggregates and securing macroeconomic stability."
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The establishment of a common currency within ECOWAS is one of the solutions in the quest for monetary sovereignty, Bassirou Diomaye Faye told local media.
However, he admitted that this process is moving very slowly.
The president also mentioned the West African Economic and Monetary Union as another alternative.
"But if it takes too long, we will emerge and mint our own currency," he said.
Faye is aware that such a transition cannot be achieved quickly. He said that "there are prerequisites in terms of stabilizing aggregates and securing macroeconomic stability."
Subscribe to @sputnik_africa
Sputnik Africa | X
