OUAGADOUGOU (Reuters) - French President Emmanuel Macron said on Tuesday the future of the CFA franc was a matter for Africans and that he was open to changes despite the monetary stability he thinks the currency pegged to the euro provides.
“On this subject, don’t have a simply post-colonial or anti-imperialist approach, it wouldn’t make sense, that’s not imperialism, it’s not true,” he told Burkina Faso students in a question-and-answer session.
“France will go along with the solution put forward by your leaders,” he said after making a speech in which he said Paris would no longer dictate what Africans should do.
The CFA franc is a currency used in 14 west and central African nations, which is tied to the euro at a fixed exchange rate - with the peg guaranteed by the French Treasury.
“If they want to change its scope, I’m rather in favour of it,” Macron said.
“If they want to change the name, I’m totally in favour of it. And if they consider that this regional stability should be scrapped altogether and they’ll be better off without it, well I think they’re the ones who decide, so I’m in favour of that.”
Reporting by Marine Pennetier and Michel Rose; editing by John Irish