Colonialism persists in many Francophone African countries due to the continuation of imperial monetary policy. This book is a little-known account of the CFA Franc and economic imperialism.The CFA Franc was created in 1945, it is the last existing colonial currency, binding fourteen African states and split into two monetary zones. Why did French colonial authorities create the CFA Franc and how does it work? Why was independence not extended to monetary sovereignty for former French colonies? Is the CFA Franc responsible for the underdevelopment of the countries using it? Through an exploration of the genesis of the currency and an examination of how the economic system works, the authors seek to answer these questions and more.As protests against the colonial currency grow, the need for myth-busting on the CFA Franc is vital and this expose of colonial infrastructure reveals that decolonisation is unfinished business.
Africa's Last Colonial Currency : The CFA Franc Story