CFA-"This symbolic end of the CFA is part of a renewal of the relationship between France-Africa:" (Sibeth Ndiaye).

The bill ratifying the end of the CFA franc was adopted Wednesday in the Council of Ministers in France, a text "eagerly awaited" by the countries of the West African Monetary Union, announced government spokeswoman Sibeth Ndiaye.

This text validates the transformation of the CFA franc, which will become the Eco by maintaining the fixed parity with the Euro, as well as the end of the centralization of the foreign exchange reserves of West African States with the French Treasury, under the agreement concluded at the end of December between France and the West African Monetary Union, she stressed.

This reform, the spokeswoman recalled, is the result of the cooperation agreement signed on 21 December 2019 between Emmanuel Macron and the governments of the member states of the West African Monetary Union, which had announced this historic reform of monetary cooperation between France and these African states that should lead to the end of the CFA franc.

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