By Alimat Aliyeva
The newly elected President of Senegal, Bassiro Diomaye Faye,
said that he would fulfill the promise he made during the election
campaign, Azernews reports, citing foreign media
outlets.
Diomay Fai said that if he is elected, his country will abandon
the Central African franc (CFA) and switch to the national
currency.
The rejection of the franc is now widely discussed by a new
generation of politicians in many African countries. They consider
the transition to national currencies as monetary sovereignty.
Since discussions on the transition to a new single currency in
African countries, which have been going on for more than 13 years,
have not been successful, the Senegalese leadership proposes a
transition to a national currency. Although Mali, Niger and other
countries have approved his initiative, no concrete work has been
done yet.
It should be noted that the symbol of French colonialism is the
Central African franc, which is in circulation in 14 African
countries. On the other hand, since the issue of money belongs to
the French Central Bank, the single currency hinders the
development of African countries.
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