In a joint press conference with President Macron of France, President Ouattara of Ivory Coast has announced that 8 African Countries will no longer use the CFA currency. It will be replaced by the ECO. No longer will 50% of the reserves be held by French treasury.
Currency will still be pegged against the Euro it seems, more details still coming in. Apparently France’s representatives at Central Bank of West African States/ Banque Centrale des États de l’Afrique de l’Ouest, are to leave.
BREAKING: Ivory Coast, France Announce Central Bank Independence Of 8 African Countries From France
Great news for west Africa thank the Zimbabwe ambassador to African Union for her strong voice which made these things open to public. Surely it does not make for poor countries to benefit the rich