The West African CFA franc (French: franc CFA; Portuguese: franco CFA or simply franc, ISO 4217 code: XOF) is the currency of eight independent states in West Africa: Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo. These eight countries had a combined population of 105.7 million people in 2014, and a combined GDP of US$78.4 billion (as of 2012).The acronym CFA stands for Communauté Financière d'Afrique ("Financial Community of Africa") or Communauté Financière Africaine ("African Financial Community"). The currency is issued by the BCEAO (Banque Centrale des États de l'Afrique de l'Ouest, "Central Bank of the West African States"), located in Dakar, Senegal, for the members of the UEMOA (Union Économique et Monétaire Ouest Africaine, "West African Economic and Monetary Union"). The franc is nominally subdivided into 100 centimes but no centime denominations have been issued. The Central African CFA franc is of equal value to the West African CFA franc, and is in circulation in several central African states. They are both the CFA franc.
At the French finance ministry today to debate the CFA franc that some critics say is hurting Africa's development / A Bercy aujourd'hui pour un débat sur le franc CFA a l'heure où des critiques font rage sur son héritage #franccfa #cfafranc #Africa #development #economy #colonialism #fears
Not a single concern, mass protest or outrage from Europe into stopping this crap in 2018. Disgusting. This is Economic Nazism, Colonialism in full effect today, Colonialism never left! Why should I support an organization that economically oppresses and starve others around the globe. This is the reason why France and EU is surviving off economically, $500 billion a year off 14 African nations. What if it was the other way round, if South Africa, second largest economy in the continent, decided to control currency of Eurozone nations, there would be outrage everywhere in Europe. #EconomicNazism #control #CFA #cfafranc #survival #stealingnatrualresources #nodealbrexit #fucktheeu #fucktheeuropeanunion #fuckfrance #yellowvest #evil
Banque De France is on fire! The oppressive financial banking system that has been oppressing 15 African Nations between West Africa and Central Africa with the CFA Franc since 1945. With that it has poisoned France, as a result of oppressing their own people. #EndCFAFranc #cfafranc #EndFrancophone #yellowvest #Karma #MacronStepDown #frexit #endeu
Africa for the Africans ✊🏿✊🏿✊🏿 .
Ousmane Sonko, a relative newcomer to frontline politics, has led an energetic campaign characterized by packed rallies of passionate supporters and a dedicated social media following.
The youngest candidate in the race has gained particular resonance with the nation's youth. "He is very powerful among young people between 18 and 35 who are going to be voting for the first time," says political analyst Abdou Lo.
One of Sonko's most striking policies is to replace the CFA franc with a domestic currency.
The CFA franc is pegged to the euro, and the countries that use it are compelled to keep 50 percent of their foreign exchange reserves in an account of the French treasury. "Sonko proposes a gradual, prudent and responsible exit from the franc CFA monetary system that is holding our economies hostage," says Mamadou Yauck, a Pastef Partie activist and deputy head of IT for the Sonko campaign.
Yauck says the franc is "putting our country in an uncompetitive position for exports and causing a deterioration in terms of trade." Sonko has also committed to renegotiating the contracts for oil and gas agreeing with multinational companies, claiming the existing terms are exploitative. The candidate has some expertise in the field having written a book titled "Solutions" which excoriates the government for failing to secure a better deal for Senegalese resources.
Sonko is standing on a radical platform of fighting for Senegalese interests in international dealings and attacking corruption at home, often in robust terms.
A video emerged during the race in which Sonko said that corrupt politicians should be shot, and he has subsequently refused to rule out bringing charges against the president.
#vscocam #vvxxx #vscovip one thing I like about #travel is the collection of #foreign #currency. Here are some #cfafranc used in #westafrica #francophone #countries of #Benin #burkinafaso #guineabissau #cotedivoire #mali #niger #senegal #togo it's pegged to the #euro 1 euro=655.957 #cfa #passportheavy #travel #travelsolo #travelnoire #africa #money #team225
Italy's interior minister on Tuesday called the French leader Emmanuel Macron "a terrible president," in comments that were sure to further add to tensions with Italy's trans-Alpine neighbour over immigration.