Last month, Italian Prime Minister Giorgia Meloni drew some waves when she (rightfully) criticized French Colonialism in Africa. She drew particular attention to the CFA Franc Zone.
While her critique was rightful, there is much to be said about her motivations.
Today, we are joined by Ndongo Samba Sylla, author of “Africa’s Last Colonial Currency” to talk to us about the brutal history of the CFA Franc and how it purposefully impoverishes Africa.
Show Notes
0:41 - Colony within a nation:
“Neoliberalism is another iteration of colonial logic, at least economically speaking”
5:14 - President Mitterand in 1957, “Without Africa, France would have no history in the 21st century”
6:48 - CFA Frank with two monetary zones
9:11 - Who liberated France?
10:11 - CFA Franc was born out of the devaluation of the French Franc
12:12 - Sham Decolonialisation
13:40 - Guinea
15:45 - Sekou Toure
17:34 - Fundamental Principles of the CFA system
21:06 - The third pillar “Guarantee of convertability”
* Central banks are obliged to deposit with the central bank 50% of their exchange reserves.
30:00 - Military Agreement with Relation to the CFA Frank
32:15 - Thomas Sankara Example
36:28 - French Interventions of Africa
38:53 - What is going on in Mali?
44:51 - Struggle against Monetary Repression
“Instant Misery Fund” = IMF
47:03 - Secrecy behind the CFA institutions
50:20 - France is a “Guaranteer”! What does it mean?
* Africans provided loans to the French Government.
56:03 - Myths surrounding the CFA Franc
What do you think about the CFA Franc Zone?
You can follow Ndongo Samba Sylla on Twitter
This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.historicly.net/subscribe
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.