Africa’s Way Out of Monetary Colonialism

Africa’s Way Out of Monetary Colonialism

Africa has been plagued with rampant inflation and monetary instability over the past fifty years.

There have been numerous cases of currency crises and currency resets. Even hyperinflation, the most destructive economic phenomenon, has left its ruinous mark on several African societies.

Some may say this is because African central banks are incompetent in managing their currencies. Others may claim, like the famous and infamous former governor of the central bank of Zimbabwe, Gideon Gono, that inflation is “correlated” with droughts or some other planetary phenomenon. Finally, more incognizant commentators may assert monetary instability is a…

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