The problem of the CFA reform
And Regional Integration in Africa: A Comparative Analysis of CEMAC and WAEMU
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In view of the socio-political and financial realities of today's world, the CFA franc is increasingly becoming a major concern that is generating a great deal of debate. While its promoters approve of it, its detractors reject it, believing that it is the cause of all the ills suffered by the African continent, particularly underdevelopment. They believe that since its creation in 1945 until today, the countries using the CFA Franc do not really enjoy monetary sovereignty. This explains the many departures of certain states from the Franc zone and amplifies the problem of reforming the CFA Fr...
In view of the socio-political and financial realities of today's world, the CFA franc is increasingly becoming a major concern that is generating a great deal of debate. While its promoters approve of it, its detractors reject it, believing that it is the cause of all the ills suffered by the African continent, particularly underdevelopment. They believe that since its creation in 1945 until today, the countries using the CFA Franc do not really enjoy monetary sovereignty. This explains the many departures of certain states from the Franc zone and amplifies the problem of reforming the CFA Franc, which is on the agenda in the WAEMU and CEMAC zones. But with the acceleration of the regional integration process in Africa, which aims to harmonize policies between states, it is necessary to ask whether this reform is an advantage or a disadvantage for regional integration on the continent.
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