14 African Nations Being Forced By France to Pay Taxes for the ‘Benefits’ of Colonialism

1

Fourteen nations listed below are in agreement to deposit 65 percent of all foreign currency reserves in a shared reserve fund to France. The countries established the Monetary and Economic Union of West Africa. Their currency, the CFA-Franc, is printed under supervision of the French National Bank in Chamaliéres, France.

Christof Lehmann wrote for nsnbc.me in 2012, “France is indebting and enslaving Africans by means of Africa’s own wealth; for example: 12.0000 billion invested at three percent creates 360 billion in interests which France grants as credits to Africa at an interest rate of five to six percent or more. The allegory of ‘Bleeding Africa and Feeding France’ is no exaggeration, not alarmist, and not revolutionary.”

All numbers below according to the World Bank.

2

Congo-Brazzaville/Republic of the Congo/Congo

Approximate foreign currency reserves including gold in 2012: $5.55 billion

3

Ivory Coast/Côte d’Ivoire

Approximate foreign currency reserves including gold in 2012: $4.24 billion

4

Mali

Approximate foreign currency reserves including gold in 2013: $1.31 billion

5

Gabon

Approximate foreign currency reserves including gold in 2012: $2.35 billion

6

Equatorial Guinea

Approximate foreign currency reserves including gold in 2012: $4.4 billion

7

Chad

Approximate foreign currency reserves including gold in 2012: $1.16 billion

8

Central African Republic

Approximate foreign currency reserves including gold in 2012: $0.16 billion

9

Senegal

Approximate foreign currency reserves including gold in 2012: $2.25 billion

10

Burkina Faso

Approximate foreign currency reserves including gold in 2012: $0.63 billion

11

Niger

Approximate foreign currency reserves including gold in 2012: $1.17 billion

12

Togo

Approximate foreign currency reserves including gold in 2012: $0.51 billion

13

Benin

Approximate foreign currency reserves including gold in 2012: $0.69 billion

14

Cameroon

Approximate foreign currency reserves including gold in 2012: $3.38 billion

15

Guinea-Bissau

Approximate foreign currency reserves including gold in 2012: $0.19 billion

Originally posted by Tracy of AtlantaBlackstar

Additional Sources:

French Africa Policy Damages African and European Economies. (NSNBC International)

A Brief History of the CFA Franc (African Business Magazine)

 

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Categories: Africa/Alkebulan, History, Politics

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