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@AfricanDiasporaNewsChannel
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28 Apr 2021 02:54:28 UTC
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Benin President Patrice Talon Orders France Economic Decolonization From France
Francophone nations in West Africa want more control over the management of their currency and plan to move some reserves from France, said Beninese President Patrice Talon.

The eight-member nations of the West African Monetary Union "unanimously agree" on ending a decade-old model whereby their foreign-exchange accumulation is kept at the French Treasury, Talon said in an interview with Radio France Internationale. Their currency, the CFA franc, is pegged to the euro, and its convertibility is guaranteed by the former colonial ruler.

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