West African Franc-Linked Countries Plan to Pull Foreign Reserves from France

Posted on 12/04/2019

The West African CFA franc currency is pegged to the Euro. The convertibility of the West African CFA franc is guaranteed by France, the former colonial ruler of a number of countries in Africa. However, the foreign exchange reserve accumulation was also resided in the French Treasury (Agence France Trésor), which the accounts are held […]