While the heads of state of West African countries have decided to put their new Eco-currency into circulation by January 2020, those in Central Africa have not taken a stand or taken a step to follow them.
The subject hitherto taboo, was discussed at the extraordinary summit of the CEMAC heads of state in Yaounde. Even if he puts on gloves to talk about it, Obiang Nguema had began loosening his tongue. Answering the questions of the CRTV (Cameroonian national television) while he was on the way back to his country after the extraordinary Summit, the Guinean President welcomed the decision taken by his counterparts to give the possibility to reflect on a development of monetary cooperation.
“We have addressed this issue of freeing ourselves from our monetary partner because we are already a sub-region able to take charge of this,” said President Obiang Nguema. During his visit to the President of the Republic Gabon, Ali Bongo Ondimba in Libreville on July 12, Equatorial Guinean President Teodoro Obiang Nguema had already unveiled his feeling about the CFA franc: “We have learned that West Africa may be changing its currency, but here in Central Africa, we have already exchanged our points of view ”
For him, discussing about the currency is sensitive and deserves that the countries within the community space negotiate with France beforehand so as to present them some difficulties they encounter in relation to the coverage it makes of our currency, rather than embarking on a process of changing the currency, the Guinean president reiterated that, “It is not only the changin of name of the currency, but the need to have a strong currency, which can compete with other economies »
A revolutionary position, although it is known that Idriss Déby has already made strong statements before, without real consequences. It is therefore not certain that this question has been apprehended in the same way or unanimously approved by the leaders of Cemac, so cautious when it comes to evoking an emancipation vis-à-vis the old colonial power. The proof…
Following the Equatorial Guinean President, his counterpart in the Republic of Congo wanted to be more reserved and even embarrassed. “It’s an issue we’re talking about everywhere, including the media. But it is a sensitive point, which must be addressed with responsibility,” stammered President Denis Sassou Nguesso.
Point number 7 of the final communique of the extraordinary summit of CEMAC presidents relating to the reflection on the CFA franc feeds the debates at a time when public opinion is heard in Africa to claim monetary sovereignty.
Public pronouncements so far have been heard mainly in the CEMAC zone.
Note that Cemac is now open to reflect on a change in the colonial currency imposed by General de Gaulle’s French colonies.