Former Ambassador from the African Union to the US, Arikana Chihombori-Quao with Lawrence Freeman. December 5, 2019
December 8, 2019
You can read in the press release below the rebuttal by Ambassador Arikana Chihombori-Quao to the allegations against her by the African Union.
“In summary, I took a virtually unknown Mission that had been relegated to a Protocol Office and turned it into a vibrant well-respected Mission, not only in Washington DC but around the world. I accomplished all this with limited staff…and very limited resources. I worked tirelessly, an average of sixteen-eighteen-hour days, seven days a week during my tenure. I attended as many meetings and events as I could promoting Africa and the African Union not only in the United States of America but also in other parts of the Americas. I realized that this is what it took to bring awareness to the people of an entity that was otherwise unknown.”
CFA franc is used by 14 countries of the African continent: eight belonging to the UEMOA area (Burkina Faso, Togo, Benin, Senegal, Mali, Ivory Coast, Niger, Guinea Bissau); and five in the CEMAC zone (Central African Republic, Gabon, Chad, Cameroon, Equatorial Guinea), The CFA has about 155 million users. Although operational in these countries since independence, this currency until today is manufactured in France. It has been pegged to the euro for 20 years through the French Treasury, and its value is defined by the European currency (1 euro = 655.96 CFA francs). In other words, it is convertible only in Euros, hence its dependence on the financial policy of Europe. (courtesy of afric.online)
Nov. 12, 2019
Despite liberation from France over half a century ago, France has maintained its colonial hold on Francophone nations through its control of the CFA franc currency. It appears France’s grip is loosening with actions led by the President of Benin, Patrice Talon. Without control of one’s own currency no African nation can be truly sovereign. Ambassador Arikana Chihombori-Quao has been relentlessly campaigning for the French to end their modern day colonialism, which requires Francophone nations to use the CFA franc and deposit their reserves in Paris banks. Amb Chihombori, who was the African Union’s ambassador to the United States, was dismissed without cause last month. Many of her supporters believe that it was pressure from France that forced her to be discharged from her post in Washington.
Francophone nations in West Africa, former French colonies, want more control over the management of their currencies and plan to move some reserves from France, said Benin President Patrice Talon.
The eight member-nations of the West African Economic and Monetary Union “unanimously agree” on ending a decade-old model whereby their foreign-exchange accumulation is kept at the French Treasury, Talon said in an interview with Radio France Internationale (RFI). Their currency, the CFA franc, is pegged to the euro, and its convertibility is guaranteed by the former colonial ruler.
Established after World War II, the discussion of the use of the CFA franc frequently triggers debate about the region’s continued economic dependence on France and the view that the currency is artificially strong and curbs the region’s competitiveness. Its supporters cite the region’s low inflation and the currency’s stability relative to other African nations as reasons for its continued use.
“I can’t give you the date, but the willingness of everyone is already there,” Talon said in response to to French Finance Minister Bruno Le Maire’s openness to a reform of the currency. “Psychologically, with regards to the vision of sovereignty and managing your own money, it’s not good that this model continues.”
The regional central bank will manage the reserves and distribute them to partners around the world, including Japan, Europe, China, and North America, said Talon. Ivory Coast, with an economy of about $40 billion, is the biggest among the users of the CFA franc in West Africa. In addition to the eight West African nations, six other nations in the Central African Economic and Monetary Union also use the same model.
African Union Ambassador, Arikana Chihombori Quao and her husband, Dr Nii Saban Quao with Lawrence Freeman and his wife Donielle DeToy at celebration of Confucius Institute in Washington DC
On Saturday evening-September 14, at the National Press Club in Washington DC, African Union ambassador, Arikana Chihombori-Quao gave the key note address to the Confucius Institute National Honors Gala. During her dynamic and at time amusing talk, she discussed how she over came her initial fears about China when she visited the nation four years ago. The Ambassador emphasized the importance of people to people relations between the US and China, and discussed the process of learning the Mandarin language.
