The CFA franc devaluation on 11 January 1994 stands out as the most significant reform within the Franc Zone system since political independences of former African French colonies in 1960, yet a topic shrouded into profound taboo. So far, the economic literature has failed to draw any connection...

Cover -- Contents -- Foreword -- Introduction -- 1. A Currency at the Service of the 'Colonial Pact' -- 2. The CFA System -- 3. Resistance and Reprisal -- 4. France in Command -- 5. At the Service of the Francafrique -- 6. An Obstacle to Development -- 7. An Unsustainable Status Quo -- Epilogue...