Equatorial Guinea Leader Says French-Backed Currency Is Outdated
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Equatorial Guinea’s leader said the union of Central African states should consider changes to its French-backed currency after eight West African states last week agreed to reforms to their long-standing agreement with France.
President Teodoro Obiang Nguema Mbasogo, speaking at a joint press conference with Ivorian leader Alassane Ouattara, said that the current agreement between the Central Economic and Monetary Union and France on the CFA franc had become “obsolete.”