(MENAFN- AzerNews) By Alimat Aliyeva
The newly elected President of Senegal, Bassiro Diomaye Faye,said that he would fulfill the promise he made during the electioncampaign, Azernews reports, citing foreign mediaoutlets.
Diomay Fai said that if he is elected, his country will abandonthe Central African franc (CFA) and switch to the nationalcurrency.
The rejection of the franc is now widely discussed by a newgeneration of politicians in many African countries. They considerthe transition to national currencies as monetary sovereignty discussions on the transition to a new single currency inAfrican countries, which have been going on for more than 13 years,have not been successful, the Senegalese leadership proposes atransition to a national currency. Although Mali, Niger and othercountries have approved his initiative, no concrete work has beendone yet.
It should be noted that the symbol of French colonialism is theCentral African franc, which is in circulation in 14 Africancountries. On the other hand, since the issue of money belongs tothe French Central Bank, the single currency hinders thedevelopment of African countries.
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