Is it true that 14 African countries are still forced to pay colonial taxes to France?
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27 Answers
Harold Zwanepol, former Natural Selection Intervention Specialist
Note - I am not an expert in international finance, but this article smacks of misinformation and conspiracy theory.
What we do know is that there are 14 countries in Africa that use currencies (the West African franc and the Central African franc) backed by the treasury of France. Twelve of these countries are former colonies of France and two later adopted the CFA - both currencies share the same acronym.
Green = West African CFA franc (XOF)
Red - Central African CFA franc (XAF)
These currencies have always been at a pegged exchange rate, first with the franc, then with the euro. They both ...