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ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro - Foreign Affairs - Nairaland

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ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 10:18pm On Dec 21, 2019
ABIDJAN (Reuters) - The West African Economic and Monetary Union has reached an agreement with France to make changes to the CFA franc, Ivorian President Alassane Ouattara said on Saturday, in a shift away from the former colonial power.

Under the agreement, the currency remains pegged to the euro and will be renamed the ECO. It scraps a requirement for countries to keep 50% of reserves in the French Treasury and the need for a French representative on the currency union’s board.

“This is a historic day for West Africa,” Ouattara said in a statement during a joint news conference with French President Emmanuel Macron in Ivory Coast’s main city Abidjan.

The future of the currency has been long-debated with critics pointing to its links to “Francafrique”, the loose web of influence Paris retains in its former colonies.

Proponents have argued that the 74-year-old currency has brought welcome monetary stability to the countries that use it, though Macron said in 2017 it was up to African governments to decide what to do with the currency.

The CFA covers 14 African countries with a combined 150 million people and $235 billion of gross domestic product.

The changes will only affect the West African form of the currency used by Benin, Burkina Faso, Guinea Bissau, Ivory Coast, Mali, Niger, Senegal and Togo.



Source: https://www.reuters.com/article/us-ivorycoast-france-macron-idUSKBN1YP0JR

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 10:22pm On Dec 21, 2019
I guess france has decided to wash their hands of W. African CFA franc. The french treasury will no longer back the currency. They no longer have seat on board or reserves afterall. Congratulations and good luck to the Africans who control their currency.

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by healthserve(m): 10:24pm On Dec 21, 2019
Why do we have to peg it to the Euro. Francophone sha and the idocy of the Anglophones


Directly pegging the currency against another bloc implies zero control. Given the Complexities surrounding Brexit, common sense would imply we tred carefully yoking ourselves with the Euro bloc as pulling out of arrangements isn't anything the Europeans take lightly. Fullish unthinking Anglophones..spits


From Britain to Greece to Spain to Cyprus Europe has continously remained a dodgy bloc when it comes to dealing. Yoking is easy, unyoking if necessitated is what becomes troublesome.

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 10:42pm On Dec 21, 2019
healthserve:
Why do we have to peg it to the Euro. Francophone sha and the idocy of Anglophones

Directly pegging the currency against another bloc implies zero control. Given the Complexities surrounding Brexit, common sense would imply we tred carefully yoming ourselves with the Euro bloc as pulling out of arrangements isn't anything the Europeans take lightly. Fullish unthinking Francophones..spits

What are you suggesting they do. Do you want them to have floating exchange rates or peg it basket of currencies? Maybe they should consider a weaker currency for cheaper exports but that's up to them.

The Euro is pretty stable with or without UK being in the block. Their monetary policy can be altered later. They're not the only country that pegs their currency to anyway.

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by healthserve(m): 10:42pm On Dec 21, 2019
Blue3k2:


What are you suggesting they do. Do you want them to have floating exchange rates or peg it basket of currencies? Maybe they should consider a weaker currency for cheaper exports but that's up to them.

The Euro is pretty stable with or without UK being in the block. Their monetary policy can be altered later. They're not the only country that pegs their currency to anyway.


Armateurish
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by JubrinElSudan: 10:46pm On Dec 21, 2019
How about the ecowas currency? If that pulls through, changing currency twice within a decade for them

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by tck2000(m): 10:47pm On Dec 21, 2019
Still Being Colonized!

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 10:49pm On Dec 21, 2019
healthserve:

Armateurish

Dont just rant Mr. expert give your suggestions. What should they do with their currency?

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by healthserve(m): 10:50pm On Dec 21, 2019
Blue3k2:


Dont just rant Mr. expert give your suggestions. What should they do with their currency?


Like you're in my I.Q-Rank. I've stop dishing out private hard learned strategies.


Enjoy your ignorance

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 10:52pm On Dec 21, 2019
healthserve:



Like you're in my I.Q-Rank. I've stop dishing out private hard learned strategies.


Enjoy your ignorance

Lol so you have none after ranting and raving? I thought so. Useless arm chair experts.

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by healthserve(m): 10:56pm On Dec 21, 2019
Blue3k2:


Lol so you have none after ranting and raving? I thought so. Useless arm chair experts.

Sorry revere psych doesn't work on moi. Ciao amigo

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 10:58pm On Dec 21, 2019
healthserve:


Sorry revere psych doesn't work on moi. Ciao amigo

I was just stating facts dont stress yourself. I know you have nothing to contribute but that rant.

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by healthserve(m): 10:59pm On Dec 21, 2019
Blue3k2:


I was just stating facts dont stress yourself. I know you have nothing to contribute but that rant.


Yawns. Try harder

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Nobody: 11:01pm On Dec 21, 2019
Blue3k2:


Dont just rant Mr. expert give your suggestions. What should they do with their currency?

he did not even spell 'amateurish' correctly bro. Why waste your time ?

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by healthserve(m): 11:02pm On Dec 21, 2019
Dasuks:


he did not even spell 'amateurish' correctly bro. Why waste your time ?


Called bvsy. Younger generation. Smh

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by darkwan: 11:04pm On Dec 21, 2019
healthserve:


Sorry revere psych doesn't work on moi. Ciao amigo

i hate that guy....
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 11:06pm On Dec 21, 2019
Dasuks:


he did not even spell 'amateurish' correctly bro. Why waste your time ?

Lol these internet experts are funny.

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by darkwan: 11:07pm On Dec 21, 2019
Blue3k2:


Lol these internet experts are funny.

stfu....you piss me off.... angry angry

isnt naira pegged to that dollar stuff somehow....??

you dont know when to talk or stop talkin,you just talk anything that comes to your mind....

yeye....

1 Like

Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 11:08pm On Dec 21, 2019
darkwan:


stfu....you piss me off.... angry angry

Or what loser?

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by darkwan: 11:10pm On Dec 21, 2019
Blue3k2:


Or what loser?

bite me....!! angry angry
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 11:12pm On Dec 21, 2019
darkwan:


bite me....!! angry angry

Im glad your mental disorder isnt contagious. It's too bad it's genetic. Best of luck to you.

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by darkwan: 11:14pm On Dec 21, 2019
good news....atleast france is away....if they want they can peg it to vietnamese currency,i dont give a fvck solong france is away....

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by darkwan: 11:15pm On Dec 21, 2019
Blue3k2:


Im glad your mental disorder isnt contagious. It's too bad it's genetic. Best of luck to you.

look who dey call somebody mental disorder....
if you are standard of mental order,then i prefer my mental disorder....thank you....
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by healthserve(m): 11:16pm On Dec 21, 2019
darkwan:
good news....atleast france is away....if they want they can peg it to vietnamese currency,i dont give a fvck solong france is away....


As long as its Europe, France stays

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by BabaRamota1980: 11:18pm On Dec 21, 2019
France is relevant in world politics today because of its Francophone countries, particularly in North and West Africa.

France economy subsists on African wealth. France will be broke if these African countries disintegrate, and is why whenever any people or sub ethnic in West Africa starts to talk of secession, France is engaged and pumps money in to destroy the thought. If Biafra is allowed to break free other ethnic groups in many of Francophones will follow that example. At end of day France power will diminish along with the dismembered countries.

This is the story of Southern Cameroon.

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by darkwan: 11:18pm On Dec 21, 2019
healthserve:



As long as its Europe, France stays

i dont believe that....
you do know the naira is pegged to the dollar,right....??

its a start....just france is away,thats all i care about....
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by healthserve(m): 11:18pm On Dec 21, 2019
darkwan:


i dont believe that....
you do know the naira is pegged to the dollar,right....??

its a start....just france is away,thats all i care about....


Euro is France and Germany bro wink

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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by darkwan: 11:19pm On Dec 21, 2019
BabaRamota1980:
France is relevant in world politics today because of its Francophone countries, particularly in North and West Africa.

France economy subsists on African wealth. France will be broke if these African countries disintegrate, and is why whenever any people or sub ethnic in West Africa starts to talk of secession, France is engaged and pumps money in to destroy the thought. If Biafra is allowed to break free other ethnic groups in many of Francophones will follow that example. At end of day France power will diminish along with the dismembered countries.

This is also the story of Southern Cameroon.




you biafrans sef with una twisted minds....

9 Likes

Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by darkwan: 11:20pm On Dec 21, 2019
healthserve:



Euro is France and Germany bro wink

and what do you call naira then....??
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by darkwan: 11:22pm On Dec 21, 2019
stay focused....you were enslaved and colonized for soo long....

this is a hugh step for africa....

now i understand why they were all smiling(except ghana) in that ecowas photo....
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by BabaRamota1980: 11:25pm On Dec 21, 2019
darkwan:


you biafrans sef with una twisted minds....

May God forgive you for calling me Biafran. You need to atone for this sin. It will cost you 2 black goats and 6 white chicken and 2bottles of Johnny Walker. Yeye thing. You no find somebody call Biafran na me you come choose. angry

17 Likes 2 Shares

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