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Africa's Single Currency, the CFA Franc, in a Post-Euro Future

Authors: Andrew C. Miller, Assistant Director, Center for Preventive Action, and Neil Bouhan, Analyst, Center for Geoeconomic Studies
January 19, 2012
Christian Science Monitor


Born only thirteen years ago, there are credible concerns that the euro won't make it through adolescence. Just last week, the currency hit a sixteen-month low against the dollar while Standard and Poor's downgraded the credit ratings of nine eurozone countries including France. In contrast, France's former colonies in western and central Africa have developed a common currency that works. Indeed, the CFA franc has survived for more than sixty years.

The question now is, what will happen to the CFA zone as the euro crisis deepens?

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