Articles tagged West African Economic and Monetary Union

dettes

Africa borrows on the open market

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The decades when the continent couldn’t raise major funds on ordinary commercial markets are over, but there are still worries about over-indebtedness.

by Sanou Mbaye

The nations of sub-Saharan Africa, in the post-independence euphoria of the 1960s, wanted to end the international division of labour under which they exported raw materials and imported manufactured goods. They diversified their More >

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 >

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 >

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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 >

West africa Puzzle

PROJECT PROPOSAL : CREATION OF THE AFRICAN DIASPORA INVESTMENT BANK (ADIB)

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The promoter of the African Diaspora Investment Bank (ADIB) is the London-based Senegalese banker Sanou Mbaye, a former member of the senior management team of the African Development Bank, and the author of “L’Afrique au secours de l’Afrique” (Africa to the Rescue of Africa).

African migrant remittances to their country of origin is such an important source of finance that they are at the centre More >

J'ai toujours agi par amour de la fric

How the French Plunder Africa

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France’s unchallenged political, economic, and military domination of its former sub-Saharan African colonies is rooted in a currency, the CFA franc. Created in 1948 to help France control the destiny of its colonies, fourteen countries–Benin, Burkina-Faso, Ivory Coast, Mali, Niger, Senegal, Togo, Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea, Bissau Guinea, and More >

Franc Cfa

CFA Franc: a Colonial relic

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The former sub-Saharan French colonies did not have to fight for their independence. De Gaulle, then President of France, granted it to them. These countries undertook immediately to dismantle the federal structure in which they were operating and erected trade barriers between them.

Paradoxically, they kept the CFA as their common currency. They surrendered the management of 65% of their foreign More >

le monde diplomatique

Sub-Saharan Africa on the Sidelines, A false economic dawn?

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After the collapse of the Mobutu regime Zaire, now renamed the Democratic Republic of Congo, has been left stripped of resources, in spite of the mineral wealth being eyed covetously by foreign investors. Elsewhere, the International Monetary Fund’s figures point to a significant improvement in sub-Saharan Africa. However, imposing structural adjustment, privatisation and deregulation policies More >

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