In Burkina Faso, Minister Aboubakar Nacanabo clarifies Ouagadougou’s position regarding the CFA franc after the withdrawal from ECOWAS
On Sunday, February 4, 2024, Burkina Faso’s Minister of Economy and Finance, Aboubakar Nacanabo, stated that his country remains an active member of the West African Economic and Monetary Union (WAEMU), emphasizing the need for this union to maintain its founding principles, in contrast to the ECOWAS (Economic Community of West African States).
In an interview with the Burkina Information Agency (AIB), Minister Nacanabo clarified the reasons for exiting the ECOWAS, explaining that this decision was motivated by the deviation from the organization’s original ideals. « The reasons that led us to withdraw from the ECOWAS have been clearly expressed; it is the fact that the ECOWAS has truly deviated from the ideals of its founding fathers », highlighted the Burkinabe minister.
Minister Aboubakar Nacanabo also mentioned the observation that ECOWAS is sometimes influenced by foreign powers, a dynamic that does not align with Burkina Faso’s vision. « We have also noted that ECOWAS is at times manipulated by foreign powers. We believe that this way of functioning does not correspond to what we have as a vision », he added.
Furthermore, the minister clearly indicated that Burkina Faso remains an active member of WAEMU and, consequently, the CFA Franc zone. « Regarding WAEMU, so far, we do not have the same reproaches. So, we remain members of WAEMU », affirmed Aboubakar Nacanabo to the AIB.
