Coups in Gabon & Niger in Africa spell an end to 'Francafrique'? | World at War
Edited By WION Video Desk
Published: Aug 30, 2023, 24:25 IST | Updated: Aug 30, 2023, 24:25 IST
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The French African empire has ended only in political terms. But economically, even to this day a total of 14 African nations have their economies tied to the French Central Bank. These nations must deposit half of their foreign exchange reserves with the French treasury. What this effectively means is that 14% of the African population that lives on over 965,000 square miles of land, that represents about 12% of the African continent's GDP has no financial sovereignty.
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