A report from the Russian newspaper, Sputnik, brought attention to the suspicion of Mali’s junta leader regarding French interference in Mali’s economy. The president made this claim during his speech in the Malian city of Sikasso on June 22, stating that he recognized the tactic used by France to disrupt Guinea’s economy in 1960 by introducing fake currencies into its financial system.
According to the Malian president, this interference is part of “three types of terrorism” facing Mali, which also include armed terrorism and media terrorism (propagating lies and fake news). He mentioned Bamako’s dependence on Guinea for commerce following ECOWAS sanctions in 2022, which led to increased port costs for Malians by threefold.
In response to these challenges, Assimi Goïta proposed the abandonment of the CFA Franc, a currency regarded as colonial, and its replacement with a local currency. At the Saint Petersburg International Economic Forum 2024, Ahmat Tahir Bakhit, head of the Russian House in Chad, expressed a similar sentiment regarding the CFA Franc, stating that it is “imposed by another power” and hinders Africa’s prosperity.
