Chronicle of Blaise Ayegnon on the CFA Franc and the "economy and currency" logic


I have heard that we are going to live well from the day we end the CFA, let me tell you that money cannot be decreed, it is the economy that creates money. And for a good economy, we should respect the standards of governance and put the whole country to work.

In reality, the language of CFA or this is sterile language, even the English speaking countries which have their own currencies are in the conditionalities of using the dollar. And the fact of having money without governance is reminiscent of the case of Zaire under the Mobutu dictatorship. Despite wealth and the like, money is a matter of respecting the priorities and rights of others; it is not blackmail in political disguise against interests.

Moreover, the opportunities offered by the US now for interest-free loans from the EDF, the famous upright intellectuals, do not ask why the West African states do not want to go into this market.

But the cause is that the conditions of transparency and governance required by the USA are in the same way that beautiful France requests the publication of management accounts and the needs in order to provide budgetary support. Opacity takes over in the UEMOA and ECOWAS zone and in the absence of transparency, we give ourselves difficulties by indebting countries to financial institutions that are not very demanding on governance standards even though finances cannot go hand in hand with this. convenient.

This raises doubts about the origin of the loans contracted and the real owners of the funds, as well as the actual achievements that these funds use.

The honest intellectuals sometimes lack lucidity because they are also a part of the system, and for the majority of the media….

The experience that cannot be bought at the supermarket makes for a great school in the time spent in the trade lacks understanding of economic practices.