Strengthening Competitiveness Following The Devaluation of The CFA Franc? Prospects For Small and Medium-Sized Industries in Senegal  

Oleh:

Qualmann, Regine

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Economics: A Biannual Collection of Recent German Studies no. 53 (1996), page 45-57.
Topik: CFA Franc; Senegal; French Franc; CFAF; UEMOA

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: EE9.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

As a member of the CFA franc currency zone the government of Senegal agreed with the other member countries in January 1994 on the devaluation of the CFA franc by 50% against French franc. The CFA franc (franc de la Communaute Financiere Africaine, CFAF) is the common currency of the West African Economic and Currency Union UEMOA (Union Economique et Monetaire Ouest-Africaine). The French franc are also includes the countries of the Central African Currency Union and the Comoros. The devaluation was the first nominal devaluation since 1948 of the CFAF, which had been regarded as a greatly overvalued for a long time. A devaluation of such magnitude is a great shock to the economic activities of the countries concerned, and they will need some time to recover from it. The CFA countries, after years of overvaluation, are heavily dependent from imports, so that at least in the initial phase a considerable rise in prices, a corresponding loss of purchasing power and negative social effects are to be expected.

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