« Rejoindre le F CFA constituerait pour la Guinée une rupture stratégique » (Économiste)
Guinea is currently facing a liquidity crisis. To escape this trap, Professor Amath Ndiaye, an economist at FASEG, appears to be advising it to join the WAEMU. "Joining the CFA franc would constitute a strategic shift for Guinea."
In an article in "Financial Afrik," the pro-CFA professor and researcher asserts that the current crisis in Conakry is a reflection of the fragility of the national financial system. "This new turbulence is a reminder of the chronic vulnerability of the Guinean franc, undermined by inflationary pressures and recurring banking imbalances," he adds.
At the same time, argues Professor Ndiaye, its neighbor Guinea-Bissau is enjoying comfortable monetary stability, controlled inflation, and increased financial and commercial integration. This is thanks to the choice it made in 1997 to join the WAEMU, when it was in the throes of monetary crises.
"Since then, the country has benefited from the institutional anchoring of the BCEAO and the pegging of the CFA franc to the euro. These are all safeguards against monetary shocks. The contrast is striking: while Conakry suffers from a series of cyclical crises, Bissau enjoys relative monetary serenity," he argues.
Professor Amath Ndiaye believes that Conakry would, in turn, benefit from joining WAEMU in order to gain stability, monetary credibility, and attractiveness. "More broadly, such a choice would help accelerate the regional monetary integration project by bringing ECOWAS countries even closer to the goal of a single currency, the eco. But it would also imply a renunciation of monetary sovereignty, with all the political implications that this entails."
Commentaires (18)
Il n y a pas urgence a joindre le CFA
La Guinée Bissau a réglé ce problème depuis qu'il a rejoint le CFA.
Certes le CFA est une monnaie coloniale mais l'espace monétaire est mieux structuré que le franc guinéen.
Mêmes Sonko et Diomaye qui avaient prôné une monnaie locale sont devenus aphones sur ce sujet. Ils n'en parlent plus, plutôt ils ont gonflé leurs caisses noires en CFA.
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