healthserve:



Albeit Africa keeps looking for new chains through treaties it misunderstands its longer term objectives

healthserve:



Now just ivory Coast the entire Africa. Its low self esteem

darkwan:


i think,it will change....
many will start seeing,if china,asian nations can do it....

then africa can do it too....
we have engineers in china studying how to build trains....imagine....

a nation that people say cant even make pencils....!!
nuclear plants....??

just a decade ago,it was unthinkable....

healthserve:




God bless you my brothers. These guys live like without Europe they will die. Look at how other people ho know little about these things are celebrating this glamorous slavery

CSTR2:

If everywhere was like ivory coast, the British red coats would still be protecting our oil wells for Her Majesty the queen right now.

Stupidity is not the same all over the continent.

Sewgon79:


The real truth is that, CFA is like a budden to them, so what they do is removing their hand and let alone the their colony to bear their problems themselves. Believe if they know it won't benefit them, they won't let go. Now they we enjoy the resources like no other before without any contribution. IT IS STILL SLAVERY, BUT ADVANCE ONE.

AreaFada2:

Stability of CFA due to pegging has helped reduce devaluation that stupid dictators could have caused to individual currencies over the years.

Compare value of Naira in 1999 to CFA with today. Naira has lost much value. Naira lost value and we still have more poverty. Our flexibility has not helped us. Disastrous fiscal policies after another.

Even our monetary reserve that we control fully, do we know how they draw the money and what they use it for?

I hope these Francophone people know what they are doing. They risk serious inflation.

healthserve:



You think we don't have innovators in Nigeria. Lol. I can pull out guys and ladies that privately will make you a car. Engine blocks, all sofmrts of machines within a month I can locate and find them. Africa doesn't propagate a system that encourages and Foster innovation Sir

darkwan:


i know that....

CSTR2:

If everywhere was like ivory coast, the British red coats would still be protecting our oil wells for Her Majesty the queen right now.

Stupidity is not the same all over the continent.

somtookeke:
*French President Macron endorses use of new currency ECO by Nigeria, 14 others*

https://speakersden2..com/2019/12/french-president-macron-endorses-use-of.html

CSTR2:
I have never seen a more subservient country like ivory coast.
They just don't like independence.

What is macron doing there even on this historic occasion?

Read this
https://www.nairaland.com/5578811/icc-bans-former-president-politics

and this
https://www.nairaland.com/4998777/chile-eboe-osuji-nigerian-head-icc

CSTR2:
I have never seen a more subservient country like ivory coast.
They just don't like independence.

What is macron doing there even on this historic occasion?

healthserve:



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


Enjoy your ignorance

Oldmillionaire:



My friend shut up, even your first comment is just a combination of nonsenses. What are you even talking about? Do you even have any slight knowledge of economics? And you can't even make any reasonable point just write up B's to fill good among dummies like you and attack reasonable opinions, you're the amateurish one here as long as I can see.

itsene:


Didn't the French support biafra?

panpan:
This appears to be a subtle way by France to frustrate an independent joint West African currency.

France and Ivory Coast have cunningly changed the name "CFA" to "Eco", with currency links to France, but without the input of non-CFA West African countries.

What this means is that CFA countries in West Africa will now say that they have adopted the Eco, and it is left for non-CFA countries to join the now France-backed Eco or stay on their own.

panpan:
This appears to be a subtle way by France to frustrate an independent joint West African currency.

France and Ivory Coast have cunningly changed the name "CFA" to "Eco", with currency links to France, but without the input of non-CFA West African countries.

What this means is that CFA countries in West Africa will now say that they have adopted the Eco, and it is left for non-CFA countries to join the now France-backed Eco or stay on their own.

BabaRamota1980:

Very true!

ibietela2:

SPOT ON

According to Ahmed, the 2020 implementation deadline set for the adoption of single currency by ECOWAS member states is constrained by the continuing macroeconomic vulnerabilities in the respective economies.

She stated that till date, only Togo out of the 15 ECOWAS member countries has been able to fulfil all four convergence criteria required for a smooth transition by the target date.

Source

The four primary criteria to be achieved by each member country are: a single-digit inflation rate at the end of each year; a fiscal deficit of no more than four per cent of the Gross Domestic Product (GDP); a central bank deficit-financing of no more than 10 per cent of the previous year's tax revenue, and gross external reserves that can give import cover for a minimum of three months.

On the other hand, the six secondary criteria to be achieved by each member country are: Prohibition of new domestic default payments and liquidation of existing ones; tax revenue should be equal to or greater than 20 percent of the GDP; wage bill to tax revenue equal to or less than 35 per cent; public investment to tax revenue equal to or greater than 20 per cent; a stable real exchange rate, and positive real interest rate.

Source

Xisnin:


France isn't against secession that is why it supplied Biafra with arms during the civil war.
It is only against instability in its sphere of influence.

panpan:
This appears to be a subtle way by France to frustrate an independent joint West African currency.

France and Ivory Coast have cunningly changed the name "CFA" to "Eco", with currency links to France, but without the input of non-CFA West African countries.

What this means is that CFA countries in West Africa will now say that they have adopted the Eco, and it is left for non-CFA countries to join the now France-backed Eco or stay on their own.

healthserve:



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


Enjoy your ignorance

Bar1941:


Weighing the IQ of both of you using this topic as a reference point, it's obvious you are the one with the very low IQ. LEARN HOW TO ENGAGE IN CONSTRUCTIVE AND INTELECTUAL ARGUMENTS SMALL BOY.

healthserve:
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.

JubrinElSudan:
How about the ecowas currency? If that pulls through, changing currency twice within a decade for them

ajl:
Why confuse ECO with what these francophone countries are doing with their CFA franc. They are two different things. Eco is for the entire subregion including Nigeria. Except if you argue that it is prelude prior to launch of ECO.

Introducing ECO is the only way France can't challenge this because they know that ECO currency include Nigeria which they have no control over. Now you understand why France has been sponsoring Boko Haram to help breakup Nigeria, as well as supporting Biafra in the civil war. A weaker or smaller Nigeria mean total domination of West Africa by France. So, when we agitate for breakup of Nigeria we need to understand global politics as well. The entire subregion and the whole of Africa will be doomed.