Announced at the end of last year that Eco, which is to replace the CFA franc from 2020, will eventually have to wait. Apart from the requirement that certain civil society organizations and certain economists demand the disappearance of the CFA franc, current users of this currency rarely speak on a daily basis.
“Does our opinion matter? Because governments are used to making the decision among themselves!” Says Viviane Amani, who wants her country and her UEMOA partners to have total control over their common currency, but she doubts that her opinion will She and Mrs Guei, her colleague, are waiting for customers in their store inside a shopping mall in Abidjan.
“CFA francs do not benefit the population under modest conditions. If Eco comes with our interest, that would be a good thing. But if there is no difference between Eco and CFA franc, it is better to stay on CFA franc. Why change if it is the same? ”
But Mrs Guei still wants the CFA franc to disappear. “Our interests must be put forward. Because the CFA franc benefits Westerners more than us Africans. If our interests are put forward, I think it’s a good thing that the franc is changing. ”
Stéphane Dogbo, him, is commercial. His opinion is very precise. “It’s time to switch. Instead of switching to a currency that is CFA bis francs, we could switch to a new currency that would be produced by African states.”
For this business, the countries of the West African franc zone are now able to launch their own currency. “We can do that because if we rely on the experience of neighboring countries that already have their own currency, they will be able to manage their economy.”
Stéphane Dogbo sweeps the ghost of the fluctuation in a future common currency in West Africa. “Currencies are encouraged to fluctuate, and it is thanks to their fluctuations that we can make profitable exports to nations.”
Indeed, the economic communities of West African states have been preparing for more than 20 years for the creation of a single currency. Although not ready, on December 21, 2019 in Abidjan, the Ivorian and French presidents torpedoed the work of ECOWAS and announced the reform of the CFA franc, according to Séraphin Yao Prao, professor at Alassane Ouattara University of Bouake. “Citizens are ready to go to Eco, but the original Eco! That is, the Eco, whose founders father the foundation. Today, we see academics and even ordinary citizens in the Eco Macron-Ouattara version sabotaging the first project called by all heads of state. ”
According to this economist, West Africa should have an independent single currency within 5 to 10 years, which should increase intra-regional trade, which is now only 11%.
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