TITLE:
The Franc CFA and the Bank of Central African States: For or against the Status Quo?
AUTHORS:
Toussaint Armel Bakala
KEYWORDS:
Franc CFA, Franc Zone, CEMAC, BEAC, BCEAO
JOURNAL NAME:
Open Journal of Social Sciences,
Vol.12 No.3,
March
29,
2024
ABSTRACT: This article aims to enlighten the general
public on the recurring debate generated by the Franc CFA. All the arguments,
both scientific and moral, which militate for a profound reform (and not “cosmetic”) if not for a definitive
abolition of the Franc CFA system are put into perspective: the Franc CFA
system is therefore questioned, starting from the origin of the acronym FCFA
instead of the manufacture of Franc CFAs, through the transaction accounts and
the presence of representatives of the French Treasury in the decision- making bodies of the Central Bank of Central
African States (BEAC). However, the Franc CFA system should not be made solely
responsible for all the socio-economic problems of African countries in the
Franc zone, the governance problems of these countries should not be obscured.