In 2020, the CFA Franc is turning 75 years old. The currency, used in two African regions, is backed by the French treasury and pegged to the Euro. Though the 2014 commodity price slump revealed vulnerabilities, the situation is not comparable with 1994, when the CFA Franc was devalued by -50% in Western (WAEMU) and Central (CEMAC) CFA Franc areas. Yet, divergence among members calls for cautious optimism about the stability of the currency.

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CFA Franc turning 75: Central African countries under pressure

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