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Article: The African Franc: Prices, Jobs, Trade
- Article from:
- The Washington Post
- Article date:
- July 1, 1994
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Michelle Singletary's "African Currency Devaluation Cheers
Bankers but Few Others" {news story, June 2} reflected the view that
the devaluation of the African franc (the CFA, which had been
artificially supported by France) forced 14 poor African countries
into deeper poverty than ever, though it may eventually result in
healthier economic habits.
However, it was illuminating to note that the Niamey cloth
merchant featured in the article had three wives and 28 children.
Obviously, his problem is the result of more than monetary policy.
J. W. BLACK
Bethesda
The Post's article on the CFA franc devaluation is remarkable
for getting the facts as well as the significance of the CFA ...