Articles tagged central banks

Pièce de 5000 fcfa en argent

Liberating Africans from the CFA “franc” trap

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Nowadays, African countries are wooed because they are perceived as the spearheads of the world economy. The Economist, the English weekly newspaper, predicts that in the next five years, seven out of ten fastest growing economies in the world will be in Africa: Ethiopia (8.1 per cent), Mozambique (7.7 per cent), Tanzania (7.2 per cent), Congo (7.0 per cent), Ghana (7.0 per cent), Zambia (6.9 More >

Father and Son - Abdoulaye and Karim Wade - seeking to build a Presidential dynasty in Senegal

Senegal’s Day Of Reckoning : It’s The Economy Stupid !

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Father and Son - Abdoulaye and Karim Wade - seeking to build a Presidential dynasty in Senegal

The Senegalese people are extremely disillusioned. In 2000, they enthusiastically went to the polls to elect Abdoulaye Wade as their president. Wade had campaigned as an agent of change, but change never came to Senegal throughout his decade in power. Now the only change he wants to make is to the More >

Cupula Brasil Comunidade Economica dos Estados da Africa Ocidental 2010

Stakeholders in the Côte d’Ivoire crisis

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What is at stake in Côte d’Ivoire ‘are the consequences of French on-going colonisation and ruthless exploitation in connivance with unscrupulous local leaders of swathes of west and central Africa’, writes Sanou Mbaye, in an analysis of the five parties affected by the country’s post-election crisis.

In 2002 Côte d’Ivoire was rocked by a rebel uprising that partitioned the country into two More >

Guerre des devises

CURRENCY WAR CLOUDS OVER AFRICA

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As a result of chronically deficient demand in the aftermath of the 2008-2009 financial and economic crises, global imbalances are on the rise again, as is the risk of protectionism. The US accuses China of undervaluing its currency to support its industry.  The situation could lead to an “international currency war”.   What does this herald for African countries?

If history is any guide, we More >

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France-Africa leaders’ festivities : What to celebrate ?

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As the former French colonies of Africa head to Nice to celebrate the 25th France-Africa Summit at the end of May, Sanou Mbaye questions the enduring legacy they’re honouring. Following decades of political and economic tyranny forged by French politicians, the citizens of former colonies continue to absorb the impact of chaotic and ruinous policies left over from their imperial history. ‘As long More >

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Françafrique at 50

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DAKAR – This month, Africa’s Francophone countries will mark the 50th anniversary of their independence, and of the ties they maintain with France. But is there much to celebrate?

Even before French President Charles de Gaulle took office in 1958, he foresaw the wave of revolutionary nationalism that would soon sweep across Africa, Asia, Latin America, and the Middle East. As French president, he More >

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Leveraging Africa’s Diaspora remittances

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There is something familiar about the tide of news about sub-Saharan Africa’s increased economic hardship in the face of the worst world financial crisis and economic downturn for decades. The tide flows through exactly the same conclusions of the UN and other multilateral Institutions, academics, NGOs and Civil Society experts on Africa’s issues. They stretched to include the most alarming More >

La diaspora africaine a la rescousse

Africa’s Diaspora to the Rescue

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DAKAR – There is something dismally familiar about the tide of news reports concerning Africa’s increased suffering – more poverty, malnutrition, civil strife, and death – in the face of the recent global financial crisis. Almost everywhere, the media translates academic conclusions into graphic illustrations of brutality and despair in places such as Guinea and the Democratic Republic of More >

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Franc Zone must go

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The Heads of African States, some of whom would not hesitate to shun an OAU meeting but would rush to meet the French President at the bi-annual gathering, display everlasting dependence whose foundations are made up of a scar and a web.

Nothing illustrates better the incapacity of Francophone African leaders to break away from the former coloniser than the declaration, in Senegal newly-voted More >

globalisation

Globalisation: at best, a mixed blessing for Africa

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Perhaps Africa is fortunate that it has, to a large degree, been excluded from the new globalisation paradigm. It might be a blessing in disguise for the continent when one considers the origin, meaning and anticipated fate of globalisation. For the driving force of this new orthodoxy is the unfettered liberalisation of the world economy.

And, for this to flourish, three ingredients were More >

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