Souveraineté monétaire : pourquoi les autorités tardent à tourner la page du franc CFA
The debate over the future of the CFA franc continues to rage in West Africa. While it advocated for an immediate exit from this currency inherited from colonialism, the opposition, now in power, has not yet taken the plunge.
For economist Serigne Momar Seck, a guest on the Seneweb Eco program this Sunday, August 17, the answer is clear: "Breaking away from the CFA was never considered an immediate priority." "The first option is monetary integration within ECOWAS. Exit was only a second option, in the event of the failure of the community project," he said.
Indeed, the deadline set for the creation of the Eco, the future single currency of ECOWAS, remains set for 2027. "We are still on schedule," the economist emphasizes, recalling that this timetable corresponds to the adopted roadmap.
For now, African leaders seem to be favoring caution, banking on regional integration rather than a sudden break. But the 2027 deadline could well be the real moment of truth for the future of the CFA franc. "Even if we missed the 2020 deadline, we can meet the 2027 deadline because the complex issues—exchange rate regime, monetary policy framework, reserve pooling, among others—have already been resolved," assures Serigne Momar Seck.
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