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While we can debate the relative merits and demerits of the CFA, it is still quite very strange and quite frankly colonial that the arrangement continues.And there have been coups in the past in the West African subregion which call into doubt this argument that Francophone African states have much sovereignty to change the situation. Furthermore, regardless of the relative merits and demerits of the monetary zone, it can't be denied that France has an overt influence on its former colonies. Most of West Africa is essentially a French backyard policywise as France's political economy is highly dependent on African natural resources(Oil from Gabon, Uranium from Niger, Maganese and phosphate from some of the smaller Franco West African states). France's behavior is quite strange especially when one can see how Britain, Spain, Portugal and Italy largely don't politically matter on the continent anymore. Lastly, one just has to compare the state of Francophone African states towards most of the Anglo states, they are on by definition normally poorer and more fragile. The likes of Togo, Mali, Niger, Chad, Burkina Faso, Central African Republic, and Guinea are on the whole basketcases, and play a part in why West Africa, which is the region China has lended to the most is the poorest. |
It continues because it's becoming an African euro-zone, having the same currency is invaluable. Especially that the African currencies don't have a reputation for stability. It's not a coincidence Mali & Guinea left and then came back in.
> Lastly, one just has to compare the state of Francophone African states towards most of the Anglo states, they are on by definition normally poorer and more fragile
I don't really agree with that, you have counter example in both cases, on my case I could point Cote d'Ivoire where the Bank of Africa is located and on the other Anglo side you have Uganda which isn't exactly an example of a rich country, the Franc CFA definitely helped for that.