West African nations to withdraw CFA reserves from France
- Thread starter videogamestashbox.com
- Start date
talk talk talk
whoever has the money controls it, no matter who's name is on the account
go to your bank right now and try to withdraw all "your" money
QuintessentialBM
GoldenAgeGamer82 - PSN ID
I didn't think a simplistic comment would turn this into a flame war.
For the record, I'm ADOS
For the record, I'm ADOS
Damn, I miss one day and thread filled up
Bruh as the OP I've been vocal about not being what I refer to as an Assimilationist Divisive Or Sellout.
That said I don't chase people around derailing threads with my disagreements of their positions either.
If you want to discus such things in one of my threads please go to
https://www.thecoli.com/threads/i-reject-coli-anti-immigration-sentiment-towards-african-peoples-as-tom-petty-counterproductive
Anyway let me get back to catching up with this thread.
Lets see how far left this shyt went while I was enjoying my sunday
Bruh as the OP I've been vocal about not being what I refer to as an Assimilationist Divisive Or Sellout.
That said I don't chase people around derailing threads with my disagreements of their positions either.
If you want to discus such things in one of my threads please go to
https://www.thecoli.com/threads/i-reject-coli-anti-immigration-sentiment-towards-african-peoples-as-tom-petty-counterproductiveAnyway let me get back to catching up with this thread.
Lets see how far left this shyt went while I was enjoying my sunday
This is what they are building towards
I wonder what purpose those reserves they are keeping will play with the eco functioning ....also, with a regional currency I'm curious to what extend it can withstand "flare ups" in a single country.
Often after some "event" the economy takes a dive. With a regional currency one countries economic dive shouldn't to harshly impact the totality. I also assume it would rebound quicker as well.
If a country like Zimbabwe which was/is under embargo had a regional currency it would be harder for the west to cause the hyper inflation that occurred there.
These are all assumptions and starting points for thought of course.
West African countries choose new 'ECO' single trade currency
By Aisha Salaudeen , CNN
Updated 2:30 PM ET, Tue July 9, 2019
Lagos, Nigeria (CNN)As part of its plans to make Africa a more integrated continent, leaders of the Economic Community of West African States (ECOWAS) have adopted the name 'ECO' for a planned single currency to be used in the region.
The 15 member group announced at the end of an ECOWAS summit in Abuja, Nigeria's capital on Saturday.
Six member countries, including Nigeria, Liberia, and Ghana, could be swapping their currencies for a new one - the ECO.
Eight ECOWAS countries (Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal, and Togo) currently jointly use the CFA franc.
Originally intended to be launched in 2000, the ECO has been postponed multiple times, and the newest target date is 2020.
A Pan-African free trade deal just came into force
According to an internal document seen by CNN, ECOWAS will be working with the West African Monetary Agency (WAMA), the West Africa Monetary Institute (WAMI) and central banks to speed up the implementation of a new road map for the proposed single trade currency.
ECO is supposed to boost economic development in the West African region and improve cross border trade.
If implemented, countries across the region will be able to move and spend money across different countries without worrying about exchange rate costs says economic analyst, Tokunbo Afikuyomi.
"The single currency if properly implemented will improve trade by allowing specific countries to specialize at what they are good at, and exchange it for other goods that other countries in the bloc produce more efficiently," he told CNN.
The single currency will also help to address the region's monetary problems like the difficulty in converting some of its currencies and the lack of independence of central banks.
But despite these possible benefits, analysts remain worried about the lack of integration policies among member countries in the region.
As Europe grapples with Brexit, the African Union seeks a more United States of Africa
According to Afikuyomi, a single currency will only work if all the countries involved are economically aligned, which is not the current case.
"The Guinean economy, for example, has a GDP of around $7 billion, that's less than Nigeria's 13th largest state, Abia with $8.7 billion. This difference in economies already makes a sensible uniform policy like the trade currency very difficult," he said.
The African Development Bank Group (Afdb) in a report says the 2020 deadline for the single currency will most like be postponed again unless the region can align with its monetary and fiscal policies.
- ECOWAS region adopt single currency name 'ECO' - CNN
I wonder what purpose those reserves they are keeping will play with the eco functioning ....also, with a regional currency I'm curious to what extend it can withstand "flare ups" in a single country.
Often after some "event" the economy takes a dive. With a regional currency one countries economic dive shouldn't to harshly impact the totality. I also assume it would rebound quicker as well.
If a country like Zimbabwe which was/is under embargo had a regional currency it would be harder for the west to cause the hyper inflation that occurred there.
These are all assumptions and starting points for thought of course.
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Good get rid of these POS cacs. Can't stand the French. But they are also the Achilles heel of Europe so this is very good....
And it begins
MischievousMonkey
Gor bu dëgër
It's not a total rebrand but kinda is. The abandon of the 50% reserves kept in French treasury is a great news.
It is still pegged to the euro though, and I know Nigeria and Ghana won't ride with that. I think they'll bounce out of it. If it happens to come true, Francophone African countries will have successfully hijacked this whole ECO thing.
Central Africa is still stuck with their CFA. Will it finally be possible for West African countries and Central African ones to exchange currencies or that still doesn't change?
It is still pegged to the euro though, and I know Nigeria and Ghana won't ride with that. I think they'll bounce out of it. If it happens to come true, Francophone African countries will have successfully hijacked this whole ECO thing.
Central Africa is still stuck with their CFA. Will it finally be possible for West African countries and Central African ones to exchange currencies or that still doesn't change?
Best thing that happened. the rest remains to be seen
BlackJesus
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Its frankly incredible that they've kept it up for this long
BlackJesus
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America hasn't fought even one war in Africa dude
