Posted @withrepost • @that_vegan_melanin This needs to happen asap. France makes close 500 billion dollars a year from 14 African countries. They can't survive without African but African can survive without them.
Colonial Freeloader Ffrance was put on notice that burkinafaso Benin, Togo, Senegal, Mali, Niger, Cotedivoire and Guineabissau seeks to remove themselves from the colonial era arrangement.. Many have called this move to be disastrous to the French economy. So basically France needs these african countries money to hold on to the title as the world most romantic country 🙄. So these countries must continue to be stigmatized for France to be a first world country.
The proposal of the 8 African countries to withdraw their currency reserves from the french central bank has evoked a spat of reactions. While it has been largely hailed on the African continent, experts fear that it can have a severe effect on the French economy. The move also comes with the decision to replace the CFA franc, the-euro linked currency used in 14 West African countries with a new common West African currency, named eco.
Even though those 8 counties have gained their indepence from france, they continued to vest their foreign exchange reserves with the French Central Bank. They have now decided to move their reserves to senegal. "We all agree on this, unanimously, to end this model ", benin’s President Patrice Talon told French media. He claimed that paris has also agreed to release their reserves, which will now be vested with the Senegal based Central Bank of West African States.
14 former West African French colonies currently put all their reserves into the French Central Bank, during the colonial era , France forced those counties to use their CFA Franc as the national currency thus strengthening the power of the French currency on a global scale, this colonial era “arrangement “ is being challenged by 8 of the 14 former colonies, I hope the remaining 6 will soon follow.
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