• Short Summary

    Finance ministers of the six member states of the West African Monetary Union (UMOA) held an extraordinary meeting in Abidjan, capital of the Ivory Coast, on Thursday (24 January), to discuss the floating of the French franc The UMOA countries share the same currency -- the Fran CFA -- whose value is directly tied to the French franc.

  • Description

    Finance ministers of the six member states of the West African Monetary Union (UMOA) held an extraordinary meeting in Abidjan, capital of the Ivory Coast, on Thursday (24 January), to discuss the floating of the French franc The UMOA countries share the same currency -- the Fran CFA -- whose value is directly tied to the French franc.

    The six member states are Senegal, Upper Volta, Niger, Dahomey, Togo and the Ivory Coast. At least half of their total imports come from outside the franc zone. These imports will now cost more because the franc has floated downwards by at least five per cent in value since the decision was taken to float on January the 19th. The ministers were expected to discuss the guarantee -- as yet unratified -- by which member states are protected against fluctuations in the French currency.

    They are also expected to discuss the effect on their economies of the recent risen in the cost of oil.

  • Tags

  • Data

    Film ID:
    VLVA4X4976449SFUTKBYRID9RE72G
    Media URN:
    VLVA4X4976449SFUTKBYRID9RE72G
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    24/01/1974
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:00:52:00
    Time in/Out:
    /
    Canister:
    N/A

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