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This is How France bleeds Africa in order to keep french Economy from Collapsing

Published on 16 Nov 2019 / In Education

In the 1950s and 60s, France decided the French colonies of Africa to become independent. Although the Paris government accepted formal declarations of independence, it called on African countries to sign a so-called “pact for the continuation of colonization.”

They agreed to introduce the French colonial currency FCFA (“Franc for the French colonies in Africa”), to maintain the French schools and military system, and to establish French as an official language.

The CFA franc is the denomination of the common currency of 14 African countries members of the Franc zone. This currency, which constitutes a brake on the emergence of these countries, was created in 1945, when France ratified the Bretton Woods agreements and proceeded to implement its first declaration of parity to the International Monetary Fund (IMF) . This was called “Franc of the French Colonies of Africa”

Since 1961, Paris has had controls over all foreign exchange reserves of Benin, Burkina Faso, Guinea-Bissau, Côte d’Ivoire, Mali, Niger, Senegal, Togo, Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea and Gabon.

These 14 countries are required to 85 per cent of their foreign exchange reserves at the Banque de France in Paris.
These countries are forced into a colonial tax, a tax that is based on the idea that these countries, despite having independence, owe France for the benefits of France’s previous colonial rule.

#france #paris

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