Producing CFA francs in France costs franc zone states over half a billion euros

Evidence

Between 2013 and 2017, the BCEAO spent 226.8 million euros for the ‘maintenance of the currency circulation’, which involves the purchase, transport and insurance of banknotes, at an average cost of €45 million per year. Between the mid-2000s and 2017, the bill has reached over half a billion euros. — Fanny Pigeaud_ Ndongo Samba Sylla, Africa’s Last Colonial Currency, 244

Categorization

• QUESTION: Worth chasing: could Kenya’s outsourcing model be a concrete alternative the book returns to as a counterexample for reform?
• XREF: connects to: Portugal replicated France’s currency cooperation model with Cabo Verde.; African franc-zone reserves effectively grant France subsidized loans below market rates.; Euro pegging diverts trade toward France and blocks local industrialization. (+3 more)

Related

• Outsourced banknote production costs franc-zone states over half a billion euros (similarity 0.91)
• CFA franc notes are printed in France rather than by member states (similarity 0.91)
• CFA currency is still physically manufactured in France (similarity 0.86)
• All CFA franc banknotes are physically printed inside France (similarity 0.85)
• CFA notes and coins are still manufactured in France. (similarity 0.85)
• CFA franc notes and coins are printed and minted entirely in France (similarity 0.84)
• Portugal replicated France’s currency cooperation model with Cabo Verde. (similarity 0.84)
• France avoided needing dollars to buy from CFA-zone countries. (similarity 0.84)
• The CFA system gives France instruments to steer franc-zone politics (similarity 0.83)
• The CFA system requires African central banks to deposit half their reserves with France. (similarity 0.82)
• Colonial territories absorbed the costs of repeated French franc devaluations. (similarity 0.82)
• France introduced the CFA franc to several African colonies in 1945 (similarity 0.82)
• CFA francs are not convertible anywhere in the world outside the French Treasury framework (similarity 0.81)
• Franc zone dollar receipts must pass through Paris; non-franc zone countries skip this step (similarity 0.81)
• CFA francs are non-convertible among the three African franc-zone sub-units (similarity 0.81)