Macron Is Boosting The euro; What About The CFA Franc?

CFA franc after Macron's winCFA franc

France has a financial system worth seven billion euros, compared with Germany’s four billion or the Spanish financial system’s three billion (because of Santander and BBVA). And the main reason is that the balance sheet managed by the Bank of France includes the monetary support of the CFA Franc. A pan-African franc printed in Clermont-Ferrand, which France still uses to maintain monetary control of Francophone Africa.

Because the French franc disappeared at the beginning of the century, at the same time as the mark, the peseta or the lira. But the CFA franc (African Financial Community) is still alive and well in the French financial system’s balance sheet and that of France and 14 African countries with an overall population of 170 million.

Hours before he was elected President of France, Emmanuele Macron wrote that the future of the CFA franc would be decided by his African partners. What power would France be giving up if it really stopped supporting this currency?


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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.