Mali’s Goita Accuses France of Printing Counterfeit CFA Franc Notes to Damage Malian Economy

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Russian House in Chad Chief Criticizes CFA Franc as Barrier to African Development

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During the sidelines of the Saint Petersburg International Economic Forum 2024 (SPIEF), Ahmat Tahir Bakhit, head of the Russian House in Chad, expressed strong criticism of the CFA franc, describing it as a hindrance to the development of African nations, as reported by Sputnik Africa.

Mali’s Transitional President Assimi Goïta also accused France of undermining the Malian economy by allegedly printing counterfeit CFA franc notes.

Speaking in Sikasso on June 22, Goïta highlighted this tactic as part of what he termed “economic terrorism,” one of the three types of terrorism facing Mali, alongside armed terrorism and media terrorism involving misinformation.

Goïta pointed out that Mali had experienced economic challenges when it turned to Guinea for trade following sanctions imposed by ECOWAS in 2022, noting significantly higher port fees imposed on Malians in Guinea.

Calling for the abandonment of the CFA franc, which he labeled as a colonial currency, Goïta advocated for African nations to adopt local currencies instead.

Bakhit echoed these sentiments earlier in June, emphasizing that the CFA franc, imposed by external powers, continues to impede Africa’s economic growth and sovereignty.

David Okafor
David Okaforhttp://naija247news.com
David Okafor Foreign Affairs Editor, Naija247news Media Group David Okafor is the Foreign Affairs Editor at Naija247news Media Group, with over five years of experience in international journalism. He excels in delivering insightful and impactful coverage of global politics and economic trends. Holding a degree in International Relations, David is known for his investigative skills and editorial leadership. His work ensures Naija247news provides accurate and comprehensive analysis of world events, earning him respect in the media industry.

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