The CFA Franc: Africa’s Denpendency and Confiscated Monetary Sovereignty
The CFA Franc, which serves as the currency for several countries in Africa, has drawn significant criticism for its role in perpetuating economic dependency and limiting the monetary sovereignty of its member states. Critics argue that the CFA Franc system primarily benefits France, thereby subjecting former French colonies to ongoing economic oversight and control.
Read moreUnderstanding Françafrique: The Complex Legacy of France’s Colonial Relationships
The post-colonial relationship between France and its former African colonies can be characterized by a paternalistic approach that has fostered a sense of dependency. This dynamic is closely tied to France’s concept of ‘pré-carré,’ which denotes a privileged sphere of influence in the region.
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