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AES 'Has More to Gain Than to Lose by Leaving WAEMU,' Nigerien Political Analyst Says
AES 'Has More to Gain Than to Lose by Leaving WAEMU,' Nigerien Political Analyst Says
Sputnik Africa
On July 11, the delegations of the three AES countries left the room in protest during a session of the West African Economic and Monetary Union Council of... 14.07.2025, Sputnik Africa
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AES 'Has More to Gain Than to Lose by Leaving WAEMU,' Nigerien Political Analyst SaysAs the West African Economic and Monetary Union (WAEMU or UEMOA) is controlled by France, it is the right moment for the AES to create a common currency, leave the WAEMU, and turn toward BRICS, Issoufou Boubacar Kado Magagi told Sputnik Africa.What benefits could AES countries gain from withdrawing from WAEMU?The speaker also warned heads of Sahel states against adopting economic strategies imposed by the World Bank and IMF, urging them instead to rely on local expertise when rebuilding the institutions of the three member states.
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AES 'Has More to Gain Than to Lose by Leaving WAEMU,' Nigerien Political Analyst Says
Sputnik Africa
AES 'Has More to Gain Than to Lose by Leaving WAEMU,' Nigerien Political Analyst Says
2025-07-14T15:08+0200
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sputnik africa, alliance of sahel states (aes), west african economic and monetary union (waemu), brics, niger, africa insight, west africa, france, europe, partnership, currency, local currency, alternative currency, finance, sahel, sahel region, world bank, international monetary fund (imf)
AES 'Has More to Gain Than to Lose by Leaving WAEMU,' Nigerien Political Analyst Says
15:08 14.07.2025 (Updated: 16:55 14.07.2025) On July 11, the delegations of the three AES countries left the room in protest during a session of the West African Economic and Monetary Union Council of Ministers in Togo.
AES 'Has More to Gain Than to Lose by Leaving WAEMU,' Nigerien Political Analyst Says
As the West African Economic and Monetary Union (WAEMU or UEMOA) is controlled by France, it is the right moment for the AES to create a common currency, leave the WAEMU, and turn toward BRICS, Issoufou Boubacar Kado Magagi told Sputnik Africa.
What benefits could AES countries gain from withdrawing from WAEMU?
Deeper ties with BRICS: the AES could benefit from economic cooperation with the BRICS, which promote local currencies and challenge the dominance of the dollar and euro, according to Magagi.
"These countries are strategic partners for the Confederation of Sahel States."
Common currency: its creation was part of the AES's founding vision, the analyst recalled. The confederation could sell its natural resources — such as uranium, oil, and gold — using its own currency, thus boosting its value on global markets, he added.
"When you create a currency, the more you sell, the more you prosper."
Strengthening sovereignty & independence: true sovereignty cannot be achieved as long as the national currency remains under foreign control, the expert stressed.
The speaker also warned heads of Sahel states against adopting economic strategies imposed by the World Bank and IMF, urging them instead to rely on local expertise when rebuilding the institutions of the three member states.
