CFA Franc Zone

CFA Franc Zone

A collective term for the countries that use either the Central African CFA franc or the West African CFA franc, which are both guaranteed by the French government. The CFA franc zone consists of Cameroon, the Central African Republic, Chad, the Republic of the Congo, Equatorial Guinea, and Gabon (for the Central African franc), and Benin, Burkina Faso, Cote d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo (for the West African franc).
References in periodicals archive ?
We consider that the monetary arrangement for the CFA franc zone mitigates the risks related to substantial exchange rate volatility and helps contain inflation, with temporary price spikes being mostly related to commodity price swings and weather-related shifts in agricultural production.
The central bank of the eight-nation West African CFA franc zone, has kept its interest rate steady, according to Reuters.
The Central African CFA franc zone is composed of six independent states: Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea, and Gabon.
A: The CFA franc zone has engendered a long-running debate which continues to raise new arguments among economists.
Furthermore, during a public hearing organised on October 27 by the Committee for the Development of Cooperation between the Euro and the CFA Franc, the majority of delegates underlined the positive effects of linking the 15 countries of the CFA Franc zone with the single currency.
This chapter contrasts the experience of three surviving monetary unions (the Belgium-Luxembourg Union, the CFA Franc Zone, and the East Caribbean Currency Area) with three that were not successful (the East African Community, the Latin Union, and the Scandinavian Union).
According to Reuters, the heads of state of central Africa's CFA franc zone are to audit their central bank's investments with France-based Societe Generale (SOGN.
Principal African currencies such as those of the 14-member CFA franc zone, the Rand Monetary bloc comprising South Africa, Lesotho, Namibia and Swaziland and the Maghreb currencies of Algeria, Morocco and Tunisia, have all enjoyed a sustained period of exchange rate stability.
France planted the roots of the CFA franc zone in 1945.
Madagascar has a tradition of wanting to emphasise its independence from former colonial ties and originally left the CFA franc zone in 1973.
This will be preceded by a single monetary zone from January 2003, which in turn will merge with the seven CFA franc zone members: Benin, Burkina Faso, Cote d'Ivoire, Mali, Niger, Senegal and Togo.