International Law and Monetary Sovereignty: The Current Problems of the International Trusteeship of the Cfa Franc and the Crisis of Sovereign Equality.

African Review of Law and Critical Thinking, Volume 1, Number 1, Year 2020-21

37 Pages Posted: 30 Sep 2020 Last revised: 7 May 2021

See all articles by Marceleau Biankola

Marceleau Biankola

Université Marien Ngouabi

Aubin Nzaou-Kongo

Jean Moulin University Lyon 3; University of Houston Law Center

Date Written: January 2, 2020

Abstract

The CFA franc and the Comorian franc are colonial francs which derive from the split, made by the monetary reform of 26 December 1945, between the metropolitan franc and the currencies used in the French colonies. As far as the CFA franc is concerned, its history is fundamentally marked by the spectre of devaluation, the spectre of countless attempts and the spectre of numerous implementations, which are a reminder that the CFA franc carries a congenital infirmity: its birth coincides with the devaluation of the metropolitan franc. The CFA franc and the Comorian franc are the two currencies of the franc zone, a group of fifteen countries that depend on three central banks: the Central Bank of West African States (BCEAO), the Central Bank of Central African States (BEAC) and the Central Bank of the Comoros (BCC). It should be specified that the monetary unit designated by the CFA franc is different depending on whether the countries are in Central or West Africa. Originally called the franc of the French colonies in Africa, the CFA franc became in 1958 the franc of the African Financial Community in West Africa, within the framework of the West African Monetary Union (WAMU), acting within the limits of the objectives of the West African Economic and Monetary Union (WAEMU); and in parallel, the franc of the African Financial Cooperation in Central Africa, within the framework of the Central African Monetary Union (CAMU), acting within the limits of the objectives of the Central African Economic and Monetary Community (CEMAC).

Keywords: CFA Franc, Currency, Coins, Sovereign Equality, International Law, Monetary Sovereignty

Suggested Citation

Biankola-Biankola, Marceleau and Nzaou-Kongo, Aubin and Nzaou-Kongo, Aubin, International Law and Monetary Sovereignty: The Current Problems of the International Trusteeship of the Cfa Franc and the Crisis of Sovereign Equality. (January 2, 2020). African Review of Law and Critical Thinking, Volume 1, Number 1, Year 2020-21, Available at SSRN: https://ssrn.com/abstract=3674201

Marceleau Biankola-Biankola

Université Marien Ngouabi ( email )

Aubin Nzaou-Kongo (Contact Author)

Jean Moulin University Lyon 3 ( email )

15 Quai Claude Bernard
69007 Lyon
Lyon, 69007
France
+(33)4 78 78 72 51 (Phone)

HOME PAGE: http://ediec.univ-lyon3.fr/

University of Houston Law Center ( email )

4604 Calhoun Road
Houston, TX 77204
United States
713-743-2100 (Phone)

HOME PAGE: http://law.uh.edu/eenrcenter/

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
532
Abstract Views
313
rank
75,508
PlumX Metrics