Ex-French Africa Still Stumbling, 18 Months After Fall of Its Franc; 50 Percent Devaluation, Ordered by Paris, Imposed Spartan Finances

The Washington Post | June 17, 1995| | Copyright

Almost a year and a half after France forced 14 former African colonies to devalue their French-backed common currency by 50 percent, they are still smarting despite massive injections of foreign aid intended to ease the shock.

Strung out thousands of miles, from the Comoros Islands in the Indian Ocean to Senegal on the continent's westernmost hump, the Franc Zone countries initially took their medicine without the strikes or riots that were widely feared at the time. Since then, their overall performance remains spotty, their long-term prospects look uncertain and their chances of success ...

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