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It's a lifeline on which 14 west and central African nations depend. Tied to the euro at a fixed exchange rate, the currency offers monetary stability. The peg is guaranteed by the French Treasury.
The Central African CFA franc (French: franc CFA or simply franc; ISO code: XAF; abbreviation: F.CFA) is the currency of six independent states in Central Africa: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon.
Usage of: West African CFA franc (XOF) Central African CFA franc (XAF) CFA franc (French: franc CFA, [fʁɑ̃ seɛfɑ]) is the name of two currencies used by 210 million people (as of 2023) in fourteen African countries: the West African CFA franc (where "CFA" stands for Communauté Financière Africaine, i.e. "African Financial Community" in English), used in eight West African countries, and ...
The French Community in 1959.. Following the accession to independence of its African colonies beginning in 1959, [1] France continued to maintain a sphere of influence over the new countries, which was critical to then President Charles de Gaulle's vision of France as a global power (or grandeur in French) and as a bulwark to British and American influence in a post-colonial world.
The eco is the name for the proposed common currency of the Economic Community of West African States (ECOWAS). Plans originally called for the West African Monetary Zone (WAMZ) states to introduce the currency first, which would eventually be merged with the Euro-pegged CFA franc which is used by the French-speaking West African region within the West African Economic and Monetary Union (UEMOA).
This video over Central Africa and the Middle East was taken by the crew of Expedition 29 onboard the International Space Station in October 2011.. Central Africa (French: Afrique centrale; Spanish: África central; Portuguese: África Central) is a subregion of the African continent comprising various countries according to different definitions.
The Economic and Monetary Community of Central Africa, generally referred to by its French acronym CEMAC (for Communauté Économique et Monétaire de l'Afrique Centrale; Spanish: Comunidad Económica y Monetaria de África Central), is an organization of states of Central Africa established by Cameroon, Central African Republic, Chad, the Republic of the Congo, Equatorial Guinea and Gabon to ...
The franc zone, a currency union in sub-Saharan Africa, [51] was established when the CFA franc (or franc de la Communauté Financière Africaine) was created in 1945 as a colonial currency for over a dozen of France's African colonies.