Senegalese President Abdoulaye Wade once labeled the CFA franc a colonial relic but that was when he was an opposition leader.

The franc was introduced at par with the French franc.

Swiss Franc

French francs French francs

Franc Southern Territories

Franc zone

Decolonizing the Franc Zone

Swiss francs Swiss francs

The franc is the currency of French Polynesia.

Another devaluation of the CFA franc today might deflate France s debts to the franc zone and boost its African based export industries, but it would worsen the franc zone countries miseries.

Even Switzerland is intervening to weaken the franc.

Wade s shortcomings have also hurt Senegal s economy.

Since 1945, it has been part of the CFP franc.

History The franc became the currency of Burundi in 1916, when Belgium occupied the former Germany colony and replaced the German East African rupie with the Belgian Congo franc.

History The franc became the currency of Rwanda in 1916, when Belgium occupied the previously German colony and the Belgian Congo franc replaced the German East African rupie.

Accordingly, the Convention could, under Senegalese law, be applied by a Senegalese court.

But the franc zone countries did not fare nearly so well.

Now he considers it the best currency in the world.

The franc zone s plight is being compounded by distorted and dysfunctional economic and monetary policies.

Swiss Francs by Flickr user Jim (CC BY NC SA 2.0).

In 1999, the Euro was introduced to replace the French franc.

In this context, on 12 January 1994, there was a 50 per cent devaluation of the parity of the currency of the African States of the franc zone compared to that of the French franc.

The franc zone is, in fact, an appendage of the French economy.

Thus, the Senegalese delegation is of the view that rigorous application of such sanctions would act as a real deterrent.

More appalling is the fact that France guarantees the CFA franc s free convertibility into hard currency, originally on the condition that all 15 Franc Zone countries surrender 100 of their foreign reserves to the French Treasury.

This gap should encourage the franc zone s member countries to reject their relationship with France.

The CFA franc issued by two sub regional central banks (BCEAO and BEAC) are not interchangeable.

It was the largest plunge of the franc ever against the euro.

On January 1, 2008, the franc was valued at 1,129.40 per US dollar.

It is responsible for Swiss monetary policy and for issuing Swiss franc banknotes.

The President of Senegal committed his authority and prestige by hosting the International Conference on Assistance to African Children.

He stated that the definition of racial discrimination, as contained in the Convention, was set out in Senegalese law as a result of ratification of the Convention.

From the end of World War II until the adoption of the euro, France devalued its own franc 14 times in order to bolster competiveness and exports, with the CFA franc devalued along with it each time.

The second way implies a thorough overhaul of the system. This would entail pegging the CFA franc not only to the euro, but also to a basket of other currencies, abolishing the fixed exchange rate and the CFA franc s convertibility, and fast tracking economic integration.

Only during the period when Burundi used the Belgian Congo franc were centime coins issued.

My country regrets the fact that the steps to accompany the devaluation have not been entirely honoured.

The economic situation was further aggravated for the CFA countries since their de linking from the French franc.

Vice Presidents His Excellency Mr. Serigne Diop, Minister of Justice of Senegal

France may not like it, but the best interests of the franc zone s citizens should come first.

Senegalese Prime Minister Abdoul Mbaye has cited high interest rates as a major impediment to GDP growth.

Member of the Senegalese delegation to 29 regular sessions of the General Assembly, from 1971 to 1981, 1985 and from 1988 to 2004.

I should like to express to the Committee our sincere appreciation of its dedicated service, under the able and dynamic leadership of Ambassador Cissé of Senegal.

The President I now call on the Minister of State, Minister for Foreign Affairs of Senegal and for Senegalese Living Abroad.

But France s woes are also being felt far beyond its borders, sparking rumors of a possible devaluation of the CFA franc, the common currency of the franc zone, which comprises 14 African countries and the Comoros Islands in the Indian Ocean.

However, the Senegalese pattern of state religious relations allows the government to provide partial funding to such private religious schools.