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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:The operations account system in French-speaking Africa
Author:Engberg, Holger L.
Year:1973
Periodical:Journal of Modern African Studies
Volume:11
Issue:4
Pages:537-545
Language:English
Geographic term:French-speaking Africa
Subject:franc zone
Link:https://www.jstor.org/stable/161614
Abstract:Twelve African countries (former French colonies) share a common currency, the C.F.A. franc, which is freely convertible into the French franc at a fixed rate of echange. The advantages of this entire monetary arrangement are: domestic monetary stability in the African states (no balance-of-payments fluctuations) and accumulation of fairly modest international reserves. The disadvantages are: the devaluation of the C.F.A. franc when the French franc devaluates and the fixed exchange rate. This last point is one of principal targets of criticism today. Notes.
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