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EVENT:
On January 11, the CFA franc was devalued by 50% in all
but one of the CFA countries.
SIGNIFICANCE:
This represents a victory for the IMF and a shift
on the part of France, which has long opposed changing the fixed
parity of the CFA franc against the French franc. For the
countries of the region, devaluation will be a mixed blessing.
Word Count (approx): 904
Headings
Primary Keywords: IMF-World Bank, France, AF, Africa, agriculture, exchange rate, foreign investment, monetary, trade, foreign policy, international relations, riot, economy, politics
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