DEVALUATION OF THE CFA

The French financier expressed his pleasure to have participated in quality of exchanges between him and his African counterparts in the franc zone. Bruno Le Maire explained that the meeting was an opportunity to assess the debt levels of countries making use of the CFA franc as its currency. He also said that he and his peers have suggested as a solution to the debt, reducing government spending. According to the head of the hexagonal and finance ministers of the Franc Zone, we must now direct public and private investment in the most relevant areas, "areas where the growths are more important."

Optimization of tax revenue was also presented as an effective solution to the high level of indebtedness of the countries of the Franc Zone. The issue of terrorist financing containment was also addressed. Following a question on reserve accounts and parity between the CFA franc and the euro, Amadou Ba, the Senegalese Minister of Economy and Finance said that the issue of reform of the CFA franc has not been addressed: "the reform of the CFA franc has been the order of the day. In terms of parity and reserve accounts, the status quo, and for a long time. " 

Following him, Bruno Le Maire emphasized that his country was not opposed to a debate on the CFA franc: "France is always ready to talk about it (reforming the CFA franc: Ed), but returned to African countries to decide, "he said. Regarding the rumors of the next CFA franc devaluation, Finance Minister of France warned "that must not listen to the birds of bad omen." 

Source : afriquemedia.tv

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