Franc Cfa : L'avis catégorique d'Emmanuel Macron
After years of presence on the African continent, France is changing its strategy. The country is now open to African aspirations for sovereignty and says it is ready to adapt.
In this same context, French President Emmanuel Macron has fully opened the door to a currency change in Francophone Africa. In an interview with Jeune Afrique, he referred to the debates in Africa surrounding the CFA franc and gave African institutions the freedom to change or reform their currencies.
"Previously, there was a strategy of protecting our own interests, but also an unexamined assumption and many unspoken issues with Africa that prevented us from moving forward. My strategy was to say that we have a shared history, intertwined destinies, and that on this basis it is possible to build a new and balanced partnership. Look at what was said about the CFA franc in 2019: it sparked debate and crystallized criticism. Well, let's reform it, let's abandon the CFA franc. And it is now up to ECOWAS and WAEMU, which have all the tools to do so, to build monetary integration. I wish them success," declared Emmanuel Macron.
Along the same lines, the French president said he had made significant efforts regarding the restitution of property to Africans. "Look also at what has been done in terms of the restitution of property looted during colonization. When I started talking about it, very few were in favor – in France at least: on May 7, the law was definitively adopted by Parliament, unanimously. We started with Benin, Senegal and Ivory Coast, and we will continue. It's a real revolution," Macron added.
Regarding the CFA franc, several countries have expressed their desire to reform the colonial currency. The Eco currency was chosen by ECOWAS as a replacement for the CFA franc, but its implementation is still delayed, following several postponements.
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