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For several decades, the CFA franc has been a monetary pillar for fourteen French-speaking countries in Africa, divided between UEMOA and CEMAC.
Created in colonial times and still secured to the euro by a fixed exchange rate regime, the CFA franc is often presented as a factor of macroeconomic stability, control of inflation and attractiveness for investors.
On the other hand, this monetary system has been repeatedly criticized for its rigidity, its post-colonial legacy and its limits on economic sovereignty and autonomous monetary policy.
This episode offers a balanced analysis of the benefits and constraints of the CFA franc, also questioning the prospects for the evolution of the African monetary system in a context of economic and digital transformations.
