Future of the currency in West Africa: CFA Franc Collapse and eco-inadequacy
It has been almost two decades since the world saw the introduction of a new multinational currency block that would change the balance of global power. Just like the euro, a new currency is taking shape that can be compared in scope and vision. Only this time it happens in Africa and it is shockingly not digital.
The countries of the West African Monetary and Economic Union are currently in transition to to adopt A new currency used in a domestic market in a dozen or more West African countries – the eco. It is pegged to the euro and is said to be a new fiat currency that will replace the current CFA franc. It will be in circulation in many West African countries.
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