The proposed eco currency is the CFA franc under another name.

Evidence

By deciding to rename the CFA franc the eco without notifying the non-WAEMU ECOWAS member countries, French and Ivorian presidents Macron and Ouattara have visibly tried to torpedo the monetary integration project designed by ECOWAS. Some Anglophone analysts have spoken of the ‘kidnapping’ of the eco, based on the fact that the WAEMU countries, with the exception of Togo, do not meet the criteria defined by ECOWAS and also on the invitation made by Macron to Anglophone countries, with the exception of Nigeria, to join the WAEMU zone. — Fanny Pigeaud_ Ndongo Samba Sylla, Africa’s Last Colonial Currency, 379 (#expands, via linked claim)

By virtue of the first of these principles, that of the fixed exchange rate, the CFA and Comorian francs are firmly pegged to the French currency, called the ‘anchor currency’: that is to say that their value in French francs does not change depending on the economic situation. It can only be modified by the political authorities of the franc zone. — Fanny Pigeaud_ Ndongo Samba Sylla, Africa’s Last Colonial Currency, 97 (#corroborates, via linked claim)

Categorization

• XREF: connects to: The CFA franc functions as a political instrument of pressure over 15 African states.; France rebranded the CFA franc to undermine ECOWAS monetary integration; CFA franc value is set politically, insulated from market economic conditions — Fanny Pigeaud_ Ndongo Samba Sylla, Africa’s Last Colonial Currency, 97 (+2 more)

Related

• France rebranded the CFA franc to undermine ECOWAS monetary integration (similarity 0.95)
• Macron and Ouattara hijacked the ECOWAS ‘eco’ currency name (similarity 0.92)
• The CFA franc’s parity was set without regard for local economic realities (similarity 0.87)
• CFA franc value is set politically, insulated from market economic conditions (similarity 0.85)
• The CFA franc is the central weapon of Françafrique’s neocolonial domination (similarity 0.85)
• Two CFA francs serve 162 million people across 15 states under one franc zone (similarity 0.84)
• CFA franc parity changed only once since 1948 (similarity 0.84)
• The CFA franc was a political choice that deprived non-adapting African actors of credit (similarity 0.83)
• CFA franc parity was frozen at 50 per French franc from 1958 to 1994 (similarity 0.83)
• The CFA system gives France instruments to steer franc-zone politics (similarity 0.83)
• The 1962 WAMU treaties renamed the CFA franc while keeping French control (similarity 0.83)
• CFA francs are non-convertible among the three African franc-zone sub-units (similarity 0.83)
• The CFA franc was deliberately overvalued against the metropolitan franc. (similarity 0.82)
• The CFA franc originated in 1945 as a Françafrique control tool. (similarity 0.82)
• Fourteen countries plus the Comoros use CFA-linked francs dating from 1945. (similarity 0.82)

Broader Connections

• Macron and Ouattara hijacked the ECOWAS ‘eco’ currency name #expands (0.70) — Fanny Pigeaud_ Ndongo Samba Sylla, Africa’s Last Colonial Currency, 379
• CFA franc value is set politically, insulated from market economic conditions #corroborates (0.50) — Fanny Pigeaud_ Ndongo Samba Sylla, Africa’s Last Colonial Currency, 97
• The CFA franc’s parity was set without regard for local economic realities #corroborates (0.50)