European expert explained why African countries can’t create a single currency

Европейский эксперт объяснил, почему страны Африки не смогут создать единую валюту

The intention of a number of African States to create a single currency for the entire region is doomed to failure, because the authors of the project do not take into account economic and religious differences between the countries represented on the African continent.

Such opinion expressed European Explorer Janis Papadakis in comments to the correspondent of ГолосUA.

As the analyst said, the introduction of a common accounting unit in the territory from Algiers to Pretoria involves determining the denominator of the average income of people in more than 30 countries in Africa.

“This is a truly crazy idea, because you cannot compare, for example, the level of welfare of the citizen of Zimbabwe and Somalia, with a salary of the citizen of Morocco, noted, in particular, he said. – In addition, for the realization of such intentions into practice it is necessary to stop a local war in the Democratic Republic of the Congo and to restore constitutional order in Liberia”.

According to J. Papadakis in the field of foreign trade Africa will continue to use the us dollar and the Euro, and internal contracts to implement in your own currency.

We will remind, on the eve of the meeting of the Association of Central banks Africa head of the Central Bank of Egypt Tarek Amer initiated the creation of a common African currency – the Afro. The initiative was supported by all participants. It is expected that work in this area will begin to 2040, the ninth year.

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