France is linked to 15 African countries by monetary cooperation agreements, which constitute a unique solidarity mechanism in the world.
France's African partners form three different blocs, each with its own central bank and currency:
Cooperation between France and its African partners contributes to the financial stability of these partners, by offering protection against the risks of balance of payments crises, as well as promoting strong, sustainable and inclusive growth. This cooperation constitutes a regional financial arrangement that contributes to the global financial safety net, with the International Monetary Fund (IMF) at its core. Based on a strong historical and cultural tie, it also aims to find common solutions to the challenges of development and the international economic environment.
This cooperation is based on two fundamental principles:
This cooperation is accompanied by a coordination effort in the fight against money laundering and terrorist financing. This effort is notably carried out within the Anti-Money Laundering Liaison Committee (CLAB), a consultation and technical support body whose permanent secretariat is provided by the Banque de France
Updated on: 04/07/2022 14:11