How France Still Exploits Africa
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💵 https://www.paypal.com/paypalme/hikmahistory 💵 https://www.patreon.com/user?u=12397811 Al-Muqaddimah poster in the background: almuqaddimah.com Then there is financial imperialism. Take the CFA franc — the currency used by 14 countries in West & Central Africa, many of them Muslim-majority. This currency, pegged to the Euro and ultimately guaranteed by the French treasury, requires those countries to deposit 50% of their foreign currency reserves in the French central bank. They have limited control over their own monetary policy. France retains the right to appoint representatives to their monetary governing bodies. This arrangement, imposed at independence and maintained through political pressure ever since, means that countries like Senegal, Mali, Niger and Burkina Faso have been conducting their economic lives for sixty years in a currency designed to serve French monetary interests rather than their own development needs. Now, in recent years the West African countries have
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