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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Monetary Politics in Franc Zone Africa: The Wolf-Sheep Game
Author:Mentan, Ngek T.
Periodical:Africa Development: A Quarterly Journal of CODESRIA (ISSN 0850-3907)
Geographic terms:French-speaking Africa
Subsaharan Africa
Subjects:monetary policy
franc zone
Economics and Trade
Inter-African Relations
international relations
Politics and Government
Abstract:This paper argues that international monetary relations within the franc zone are politically calculated to maintain French control, domination and exploitation of the African economies within the franc zone. Franco-African monetary relations are characterized as wolf-sheep power relations, in which the sheep are condemned to lose. The economic efficiency enhanced by the franc zone benefits French entrepreneurs and their accessories to the detriment of the decapitalized masses in Africa; the regimentation of the dominance-dependence structures undercuts all efforts toward local diversity and industrialization in the denationalized and dependent African economies; the franc zone is a pillar of disharmony in African international economic relations, because the franc zone countries are sealed off from other African States by the French monetary Berlin wall. Efforts should be made towards the creation of an international African monetary regime that is development-oriented. Note, ref., sum. in French.