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Vol 58 No 25

Published 15th December 2017


Fear in the franc zone

Many of the six members of the French-supported economic area are in dire straits. IMF concern is growing

While the multimillionaire leaders of some of Africa's most wasteful regimes plead poverty following the drop in commodity prices, especially oil, the International Monetary Fund is scrambling to bail them out. The six members of CEMAC (Communauté Économique et Monétaire de l'Afrique Centrale) languish at the bottom of human development and corruption indexes, with stagnant economies and rapidly rising debt.

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