CFA Franc Zone: Colonialism By Another Name

<p>Last month, Italian Prime Minister Giorgia Meloni drew some waves when she (rightfully) criticized French Colonialism in Africa. She drew particular attention to the CFA Franc Zone. </p><p>While her critique was rightful, there is much to be said about her motivations. </p><p>Today, we are joined by Ndongo Samba Sylla, author of<a target="_blank" href="https://www.plutobooks.com/9780745341798/africas-last-colonial-currency/"> “Africa’s Last Colonial Currency” </a> to talk to us about the brutal history of the CFA Franc and how it purposefully impoverishes Africa. </p><p>Show Notes</p><p>0:41 - Colony within a nation: </p><p>“Neoliberalism is another iteration of colonial logic, at least economically speaking”</p><p>5:14 - President Mitterand in 1957, “Without Africa, France would have no history in the 21st century”</p><p>6:48 - CFA Frank with two monetary zones </p><p>9:11 - Who liberated France? </p><p>10:11 - CFA Franc was born out of the devaluation of the French Franc</p><p>12:12 - Sham Decolonialisation </p><p>13:40 - Guinea </p><p>15:45 - Sekou Toure</p><p>17:34 - Fundamental Principles of the CFA system</p><p>21:06 - The third pillar “Guarantee of convertability”</p><p>* Central banks are obliged to deposit with the central bank 50% of their exchange reserves.</p><p>30:00 - Military Agreement with Relation to the CFA Frank</p><p>32:15 - Thomas Sankara Example</p><p>36:28 - French Interventions of Africa</p><p>38:53 - What is going on in Mali?</p><p>44:51 - Struggle against Monetary Repression</p><p>“Instant Misery Fund” = IMF</p><p>47:03 - Secrecy behind the CFA institutions</p><p>50:20 - France is a “Guaranteer”! What does it mean? </p><p>* Africans provided loans to the French Government.</p><p>56:03 - Myths surrounding the CFA Franc</p><p></p><p>What do you think about the CFA Franc Zone?</p><p></p><p>You can follow Ndongo Samba Sylla on <a target="_blank" href="https://twitter.com/nssylla">Twitter</a></p> <br/><br/>Get full access to Historic.ly at <a href="https://www.historicly.net/subscribe?t