West Africa's monetary union has agreed with France to rename its CFA franc...
ABIDJAN - West Africa’s monetary union has agreed with France to rename its CFA franc the Eco and cut some of the financial links with Paris that have underpinned the region’s common currency since its creation soon World War Two.
Critics of the CFA have long seen it as a relic from colonial times while proponents of the currency say it has provided financial stability in a sometimes turbulent region. “Yes, it’s the end of certain relics of the past. Yes it’s progress ... I do not want influence through guardianship, I do not want influence through intrusion. That’s not the century that’s being built today,” said Macron.
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