Within days, his Nigerien counterpart, Abdourahmane Tchiani, confirmed that a major monetary shake-up could be in the offing. The Central Bank of West African States is no longer required to deposit half of its foreign exchange reserves with the French Treasury, an obligation that critics of the currency have long denounced as a humiliating attachment to France. France created the CFA in as a currency for its African colonies. Israel Japan. The list goes on.
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