Exiting the CFA requires recovering all tools of economic sovereignty.

Evidence

An exit from the CFA franc will be successful only if it is part of a larger project to regain all the tools of economic sovereignty: budgetary policy, industrial and commercial policy, control over capital flows and so on. This includes the renegotiation of trade agreements and bilateral investment treaties, the revision of mining codes and investment codes and the resistance to the liberalisation policies suggested by the IMF and the World Bank, which are often the product of ideological dogmatism rather than of an objective analysis of national situations. Instead of putting all their hopes on a model of growth based on exports and foreign investment, countries will above all have to expand and protect their domestic markets. This means starting from the fundamentals, that is, from the development of each country’s agricultural sector and small and medium-sized enterprises and industries. — Fanny Pigeaud_ Ndongo Samba Sylla, Africa’s Last Colonial Currency, 368

Related

• Leaving the CFA only to enter IMF tutelage is no improvement. (similarity 0.84)
• The CFA franc was a political choice that deprived non-adapting African actors of credit (similarity 0.82)
• The CFA system gives France instruments to steer franc-zone politics (similarity 0.81)
• The CFA system blocks African countries from financing their own agricultural development (similarity 0.81)
• Currency independence alone cannot succeed without a self-centred development model (similarity 0.81)
• African social movements demand monetary sovereignty and reject CFA symbols (similarity 0.81)
• CFA critics demand flexible exchange rates, development-oriented central banks, and banking reform (similarity 0.81)
• CFA francs are not convertible anywhere in the world outside the French Treasury framework (similarity 0.80)
• CFA convertibility guarantee is cheap only because African economies stay small. (similarity 0.80)
• Eurozone membership merged CFA extraction with neoliberal austerity, worsening African prospects. (similarity 0.80)
• The CFA franc is a tool to preserve French dominance post-independence. (similarity 0.80)
• The French guarantee of the CFA franc was illusory since African reserves exceeded debts (similarity 0.80)
• The CFA franc persists because French and African elite interests both benefit. (similarity 0.80)
• The CFA franc question has moved from expert circles into broad public debate (similarity 0.80)
• The CFA franc persists because French and African elites both profit from it (similarity 0.80)