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Steve Bosserman

The CFA Franc Zones: Neocolonialism and Dependency - Economic Questions - 0 views

  • In conclusion, the CFA franc zones continue to be dominated by the political will, economic interest, and geopolitical strategy pursued by the French republic. It seems some elite leaders do not wean away from France’s influence. President Omar Bongo of Gabor said, “France without Gabon is like a car without petrol, Gabon without France is analogous to a car without a driver.” The previous quote can be applied to almost all of the franc zone nations. The set up of the currency unions benefits France more than its members. French colonialism is preventing the development of these nations and causing them to be dependent.
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