West African CFA franc

The West African CFA franc is a currency used by eight West African countries, including Burkina Faso, Senegal, and Ivory Coast. It is guaranteed by the French Treasury, which provides stability, and is linked to the euro at a fixed rate. This arrangement helps promote economic stability and easy trade among member countries and with Europe. However, critics argue it limits these countries' monetary independence, tying their economy closely to France and Europe. Overall, it functions as a common currency facilitating economic activity in the region, but also raises questions about sovereignty and economic policy autonomy.