Fighting Back Against Monetary Colonialism
Much of France's African empire fell away during decolonization but 15 nations still remain under its control: Senegal, Mali, Ivory Coast, Guinea-Bissau, Togo, Benin, Burkina Faso, Niger, Cameroon, Chad, CAR, Gabon, Equatorial Guinea, the Republic of Congo, and the Comoros. These countries use the CFA Franc, a currency created and controlled by Paris. The results of this monetary colonialism have been devastating. Not a single CFA nation is among the 10 richest countries in Africa. But of the bottom 10 poorest, half are in the CFA zone. France regularly devalues the CFA Franc to buy cheaper goods at the expense of the 183 million Africans in the CFA zone whose savings are devalued. Hear from activists and their lived experience as they discuss the battle against monetary colonialism.
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