Farewell to the CFA Franc: Macron and Ouattara End a Colonial Relic

French President Emmanuel Macron and Alassane Ouattara, president of the Ivory Coast, have delivered the coup de grâce to a colonial relic: the CFA franc. Created in 1945, the CFA franc is the only colonial currency arrangement still in existence. Fourteen African countries constitute the CFA franc zone. These countries in West and Central Africa are split into two separate economic and monetary unions in which the CFA franc is the coin of the realm. But the two presidents announced Dec. 21 that when the new year is rung in, the currency will disappear in the eight countries of the West African zone—home to 130 million…

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