The CFA franc zone: Economic development and the post-COVID recovery

Spotlight, UncategorizedLeave a comment

The CFA franc zone, which encom­pass­es 14 coun­tries in fran­coph­o­ne West and Cen­tral Africa bond­ed by French colo­nial her­itage and com­mon cur­ren­cy, is falling behind most devel­op­ing coun­tries in terms of per capi­ta growth, pri­vate sec­tor com­pet­i­tive­ness, gov­er­nance, human devel­op­ment, and pover­ty reduc­tion. Such chal­lenges have been exac­er­bat­ed by recent increased exter­nal shocks such as…

Bank of Central African States Urges CAR to Annul Bitcoin as Currency

African News Review, UncategorizedLeave a comment

Yaounde, Cameroon —  The Cameroon-head­­quar­tered Bank of Cen­tral African States (BEAC) has urged the Cen­tral African Repub­lic (CAR) to annul a law it passed in late April that made the cryp­tocur­ren­cy Bit­coin legal ten­der. The bank warned in a let­ter made pub­lic last week that the move breached its rules and could affect mon­e­tary stability…