The Iron Grip of the CFA Franc

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What is wrong with Africa? Of the world’s twenty-five poorest countries, twenty-one lie south of the Sahara. Crowded streets and informal markets from Dakar to Mombasa teem with hawkers selling candles, batteries, matches, toys, condoms, plastic cups, nylon wedding gowns, fake jewelry, and other cheap imports, but the region itself manufactures almost nothing. Forty percent […]

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