December 8, 2023

The Central Bank of West African States (BCEAO) on March 11 denied social media reports that it planned to devalue the CFA franc.

The central bank, which operates in eight West African countries (all but one former French colony), has urged the public to ignore unofficial communications about the currency. It warned that it could take legal action against “the perpetrators and accomplices” of rumors of weakening the currency.

BCEAO did not mention any specific social media messages, or