• Short Summary

    A FACT-FINDING MISSION COMPOSED OF FRENCH SENATORS FROM THE COMMISSION FOR ECONOMIC AFFAIRS AND PLANNING IS CURRENTLY VISITING THE IVORY COAST CAPITAL OF ABIDJAN.

  • Description

    A FACT-FINDING MISSION COMPOSED OF FRENCH SENATORS FROM THE COMMISSION FOR ECONOMIC AFFAIRS AND PLANNING IS CURRENTLY VISITING THE IVORY COAST CAPITAL OF ABIDJAN. THE PURPOSE OF THE IO-MEMBER MISSION'S TOUR IS TO OBTAIN INFORMATION CONCERNING THE IVORY COAST'S CURRENT ECONOMIC SITUATION. THIS INFORMATION WILL BE COLLATED FOR USE IN THE FRENCH SENATE'S FOREIGN AID BUDGET DISCUSSIONS NEXT NOVEMBER-DECEMBER.

    THE IVORY COAST, LIKE ALL FORMER FRENCH WEST AFRICAN COLONIES, WITH THE EXCEPTION OF GUINEA, USES THE FRANC CFA, WHICH IS UNDER-WRITTEN BY THE FRENCH FRANC. FRANC ZONE COUNTRIES HAVE DRAWING RIGHTS ON A FRENCH ALLOCATION FOR FOREIGN CURRENCIES.

    THE IVORY COAST WHICH IS IN THE UNIQUE POSITION OF HAVING A REGULAR FAVOURABLE BALANCE OF PAYMENTS HAS IN VERY RECENT YEARS STARTED TO TRADE HEAVILY WITH NON FRANC-ZONE COUNTRIES AND CONTRACTED BIG LOANS. ALL THESE LOANS ARE BASED ON THE DOLLAR RATE. THUS SINCE THE DEVALUATION OF THE FRANC THE INTEREST ON THESE LOANS COSTS THE IVORY COAST 12.1/2 PERCENT MORE.

    THE OUTCOME OF THE CURRENT SENATORIAL VISIT IS EXPECTED TO BE THAT FRANCE WILL UNDERWRITE THE 12.1/2 PERCENT INCREASE AND IN RETURN THE IVORY COAST WILL REDUCE OTHER CURRENCY PURCHASES AND BUY MORE FRENCH-MADE PRODUCTS.

    THE MISSION MEMBERS WERE WELCOMED AT THE ABIDJAN CHAMBER OF COMMERCE BY THE CHAMBER'S PRESIDENT, MR MASSIEYE.

  • Tags

  • Data

    Film ID:
    VLVA62V04YTIR4JO24ED1DUM9BSYK
    Media URN:
    VLVA62V04YTIR4JO24ED1DUM9BSYK
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    08/02/1970
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:10:00
    Time in/Out:
    /
    Canister:
    N/A

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