Finally: France loosens grip of ‘colonial’ west African currency

IAfrika

JF-Expert Member
Oct 4, 2014
203
250
Muswada huo uliosubiriwa sana kudhibitisha mwisho wa faru wa CFA ulipitishwa Jumatano na Baraza la Mawaziri la Ufaransa. Hii ilifunuliwa na msemaji wa serikali ya Ufaransa, Sibeth Ndiaye.



"Ilikuwa wakati wa ziara rasmi ya Ivory Coast mnamo Desemba 2019 kwamba (Rais Macron na viongozi wa Ufaransa wa Afrika Magharibi) walitangaza marekebisho ya kihistoria ya ushirikiano wa kifedha ambao ulikuwa unasababisha mwisho wa faru ya CFA.



"Kama Rais wa Jamhuri ameweza kusisitiza, mwisho huu wa ishara ulikuwa sehemu ya upya uhusiano kati ya Ufaransa na nchi za Afrika," alisema.





Maandishi hayo yanathibitisha mabadiliko ya CFA Franc - yaliyotumiwa na nchi nane za Ufaransa za Magharibi - kuwa Eco mpya iliyochangwa, sarafu iliyopitishwa na kambi yote ya Afrika Magharibi, ECOWAS.



Pia inaashiria mwisho wa ujumuishaji wa akiba ya fedha za kigeni za nchi nane za Afrika Magharibi na Hazina ya Ufaransa.



Kwa maneno halisi, Benki Kuu ya Amerika ya Magharibi haitalazimika tena kuweka nusu ya akiba yake ya fedha za kigeni na Benki ya Ufaransa. Ufaransa pia italazimika kuondoa uwepo wake kutoka kwa vyombo vya utawala.



Usawa uliowekwa wa sarafu ya baadaye ya Eco na euro itastahili kutunzwa. Nchi nane zinazohusika ni: Benin, Burkina Faso, Cote d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal na Togo.



Wakosoaji wa CFA Franc wanaona kuwa moja wapo ya mipaka ya mwisho ya utawala wa kikoloni wa Ufaransa. Toleo la Afrika ya Kati la sarafu, XAF, lakini; inaendelea kutumika katika nchi sita katika eneo lote.



Kuhusu CFA za mapacha

CFA Franc, waanzilishi wake hutoka kwa maneno ya Ufaransa kwa Jumuiya ya Fedha ya Afrika, ilizinduliwa mnamo Desemba 26, 1945 kama "farasi ya koloni za Ufaransa za Afrika."



Mataifa kumi na nne, yaliyogawanywa katika vikundi vya Afrika Magharibi na Kati, hutumia sarafu leo. Watu wao milioni 155 husababisha asilimia 14 ya idadi ya watu wa Afrika na asilimia 12 ya Pato la Taifa, kulingana na Mfuko wa Fedha wa Kimataifa (IMF).



Watumiaji wawili tofauti wa CFA Franc. Nchi nane zinajumuisha Umoja wa Fedha wa Magharibi mwa Afrika (WAMU), Benin, Burkina Faso, Pwani ya Ivory, Guinea-Bissau, Mali, Niger, Senegal na Togo. Mamlaka yake ya kutoa Dakar ni Benki kuu ya Amerika ya Magharibi (CBWAS).



Wengine sita wapo katika Jumuiya ya Uchumi na Fedha ya Afrika ya Kati (CAEMU): Kamerun, Jamhuri ya Afrika ya Kati, Chad, Guinea ya Ikweta, Gabon na Jamhuri ya Kongo. Mamlaka yake ya kutoa ni Benki ya msingi ya Kamerun ya Amerika ya Kati (BCAS).





The much-awaited bill ratifying the end of the CFA franc was adopted on Wednesday by the French Council of Ministers. This was disclosed by the spokeswoman for the French government, Sibeth Ndiaye.

“It was during an official visit to Ivory Coast in December 2019 that they (President Macron and French West African leaders) announced a historic reform of monetary cooperation that was to lead to the end of the CFA franc.

“As the President of the Republic had been able to stress, this symbolic end was to be part of a renewal of the relationship between France and African countries,” she said.


The text validates the transition of the CFA franc – used by eight French West African countries – to become the newly mooted Eco, a currency to be adopted by the entire West African bloc, ECOWAS.

It also marks the end of the centralization of foreign exchange reserves of the eight West African states with the French Treasury.

In concrete terms, the Central Bank of West African States will no longer have to deposit half of its foreign exchange reserves with the Bank of France. France will also have to withdraw its presence from the governance bodies.

The fixed parity of the future Eco currency with the euro will have to be maintained. Eight countries concerned are: Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.

Critics of the CFA franc perceive it as one of the last vestiges of France’s colonial domination. The Central African version of the currency, XAF, however; continues to be used in six countries across the region.

About the twin CFAs
The CFA franc, its initials come from the French words for African Financial Community, was launched on December 26, 1945 as a “franc of the French colonies of Africa.”

Fourteen nations, divided into West and Central African groups, use the currency today. Their 155 million people account for 14 percent of Africa’s population and 12 percent of its GDP, according to the International Monetary Fund (IMF).

Two different CFA Franc users. Eight countries comprise the West African Monetary Union (WAMU), Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal and Togo. Its Dakar-based issuing authority is the Central Bank of the West African States (CBWAS).

Six others are in the Central African Economic and Monetary Union (CAEMU): Cameroon, the Central African Republic, Chad, Equatorial Guinea, Gabon and Republic of Congo. Its issuing authority is the Cameroon-based Bank of the Central African States (BCAS).

From CFA franc to Eco: evolution of a controversial currency | Africanews
 

Masamila07

JF-Expert Member
Jun 22, 2014
5,054
2,000
Watajuta huko mbeleni CFA ilikuwa na umuhimu sana sababu Mfsransa alii"back"

Sasa watakutana na watawala wa hovyo wa kiafrika wanaoongoza nchi kienyeji watakaokuwa wanaiyumbisha sarafu

Moja ya sifa au vigezo kwa ajili ya sarafu imara ni kuhakikisha Mchapisha sarafu una akiba ya fedha za kigeni za kuagiza bidhaa kwa muda kuanzia miezi mitatu kwenda juu pia inflation umeicontrol kwa asilimia zinazotakiwa plus deni la nchi halitakiwi kuzidi asilimia 60

Sasa kichekesho kinakuja baadhi ya mataifa ya Afrika akiba ya fedha za kigeni haiwezi hata ku"cover" mwezi mmoja ,inflation unakuta hiyo mpaka asilimia 100 huko na madudu mengi
 

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