African Monetary Union Stirs Criticism of France

Former French colonies use a franc tied to the euro
Photograph by Godong/UIG via Getty Images

A hoard of cash sits in the Bank of France: $20 billion in African money held in trust by the French government and earning just 0.75 percent interest. Now economists and politicians from 14 Central and West African countries say they want their funds returned and an arrangement dating back to the days of France’s colonial empire ended.

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