Will France Derail West Africa’s Common Currency?

France continues to play the role of coloniser in monetary affairs of its former colonies.

Former French and English Colonies in West Africa have been making efforts to have a common currency.

Simplice A. Asongu, Lead Economist and Director of the African Governance and Development Institute in this Proj Syndicate piece points how France could derail the common currency project:

In 2019, the first currency union in Africa seemed poised to become a reality – until an unexpected intervention by Emmanuel Macron disrupted the process. Macron has said he wants to examine France’s legacy in Africa and establish a new relationship with its former colonies, but his actions speak louder than his words.

France has played second fiddle to Germany in Europe’s own common currency but wants to be seen as the major player in West Africa’s common currency .

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