As published yesterday, Patrice Talon, President  of Benin, announced that the West African Monetary Union wanted to take back control of its currency. An unanimous agreement was reached by the eight African countries – whose foreign reserves are kept in France – to pull the reserves of their CFA franc from France. The countries which include Togo, Burkina Faso, Mali, Senegal, Ivory Coast, Niger and Guinea Bissau all use the French regulated CFA francs.

Source: The Maravi Post

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