West African Countries Will Withdraw CFA Reserves from France

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West African Countries Will Withdraw CFA Reserves from France
West African Countries Will Withdraw CFA Reserves from France

Benin’s president, Patrica Talon, announced that the foreign reserve of the CFA, the currency used by eight countries in the region, will be withdrawn from France.

In an interview with the French media, Talon said that unanimity has yet to be achieved, but the current model is a psychological problem rather than a technical.

The central banks of African countries, WAMU (West African Monetary Union) will manage foreign exchange reserves and distribute them to partners of various central banks in the world.

WAMU countries are Benin, Togo, Burkina Faso, Mali, Senegal, Ivory Coast, Niger, and Guinea-Bissau. Since 1945, the CFA of West and Central Africa was allocated to France, and then the Euro and its reserves were held in France.

CENTER FOR AFRICAN STUDIES

Center for Africa Studies (AFRAM) which located in Ankara, is an organization facilitating under the administration of African Affairs Council (AFAC). It makes various researches about Africa to enhance economic and cultural bounds between Africa and Turkey. AFRAM’s publishings has been shared with different institutions as they require to obtain.

AFRICA OBSERVATORY

Africa Observatory is one the publishing of AFRAM and it has been published each two weeks. It has been delivered to different institutions via e-mail.



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