France à fric: the CFA zone in Africa and neocolonialism.

Item request has been placed! ×
Item request cannot be made. ×
loading   Processing Request
Read Online Read More Add to Saved list
  • Author(s): Taylor, Ian (AUTHOR)
  • Source:
    Third World Quarterly. Jun2019, Vol. 40 Issue 6, p1064-1088. 25p. 7 Charts.
  • Additional Information
    • Subject Terms:
      MONETARY unions; ECONOMIC conditions in Africa; NEOCOLONIALISM; FRENCH foreign relations; FRANC (French currency); DEPENDENCY theory (International relations); INTERNATIONAL economic relations
    • Subject Terms:
      FRANCE; FRENCH-speaking Africa
    • Abstract:
      Over 50 years after 1960's 'Year of Africa', most of Francophone Africa continues to be embedded in a set of associations that fit very well with Kwame Nkrumah's description of neocolonialism, where postcolonial states are de jure independent but in reality constrained through their economic systems so that policy is directed from outside. This article scrutinises the functioning of the Communauté Financière Africaine (CFA), considering the role the currency has in persistent underdevelopment in most of Francophone Africa. In doing so, the article identifies the CFA as the most blatant example of functioning neocolonialism in Africa today and a critical device that promotes dependency in large parts of the continent. Mainstream analyses of the technical aspects of the CFA have generally focused on the exchange rate and other related matters. However, while important, the real importance of the CFA franc should not be seen as purely economic, but also political. [ABSTRACT FROM AUTHOR]
    • Abstract:
      Copyright of Third World Quarterly is the property of Routledge and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)