Kohnert, Dirk (2019): The impact of Brexit on Francophone Africa.
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Abstract
Whereas the impact of Brexit on Anglophone Africa was a major issue in the controversial British discussions on the pros and cons of Brexit, possible repercussions on French-speaking Africa have been rarely mentioned up to now. If at all, mostly indirect general effects were declared, both concerning the former British Empire in Africa and a fortifori for the former French colonies as well. Yet, the range of possible Brexit effect is impressive. It spreads from direct influence on farm-gate cocoa-prices in the CFA-currency regions and subsequent percussions on the state budget of these countries, over more indirect effects, e.g. on the cooperation between CEMAC, WAEMU and the EU concerning EDF-programs of which Great Britain has been a major contributor so far, as well as enforced re-negotiation of controversial EPAs, to the revival of progressive social networks in Francophone Africa. The latter are already demanding more political and economic sovereignty, for example with respect to the increasingly anachronistic F CFA currency. Yet, in view of the lack of countervailing power of Britain within the EU in the case of Brexit, the murky network of Françafrique could be re-vitalized and consolidated as well. Besides, there could develop also direct effects of the Brexit. For example, on coca-farmers in Francophone West Africa, because their product is traditionally traded in Pound Sterling. Thus, any fall in the value of the Pound Sterling against the Euro once Britain leaves the EU would have damaging consequences, not only for the producers but also for public finances, because cocoa is priced in Sterling and the CFA franc is linked to the Euro. This impacts also on the revival of the long-standing controversy on the ill-adapted and increasingly anachronistic F CFA. African activists already demand a genuine African debate and a referendum on these issues similar to the Brexit vote.
Item Type: | MPRA Paper |
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Original Title: | The impact of Brexit on Francophone Africa |
English Title: | The impact of Brexit on Francophone Africa |
Language: | English |
Keywords: | Brexit, UK, EU, Françafrique, post-colonialism, development, international trade, ODA, WAEMU, CEMAC, Sub-Saharan Africa |
Subjects: | F - International Economics > F1 - Trade > F13 - Trade Policy ; International Trade Organizations F - International Economics > F2 - International Factor Movements and International Business F - International Economics > F3 - International Finance > F35 - Foreign Aid F - International Economics > F5 - International Relations, National Security, and International Political Economy > F54 - Colonialism ; Imperialism ; Postcolonialism F - International Economics > F6 - Economic Impacts of Globalization > F63 - Economic Development G - Financial Economics > G1 - General Financial Markets > G15 - International Financial Markets H - Public Economics > H2 - Taxation, Subsidies, and Revenue > H26 - Tax Evasion and Avoidance N - Economic History > N1 - Macroeconomics and Monetary Economics ; Industrial Structure ; Growth ; Fluctuations > N17 - Africa ; Oceania N - Economic History > N4 - Government, War, Law, International Relations, and Regulation > N47 - Africa ; Oceania N - Economic History > N7 - Transport, Trade, Energy, Technology, and Other Services > N77 - Africa ; Oceania O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O17 - Formal and Informal Sectors ; Shadow Economy ; Institutional Arrangements P - Economic Systems > P1 - Capitalist Systems > P16 - Political Economy Z - Other Special Topics > Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology > Z13 - Economic Sociology ; Economic Anthropology ; Social and Economic Stratification |
Item ID: | 92252 |
Depositing User: | Dirk Kohnert |
Date Deposited: | 23 Feb 2019 14:25 |
Last Modified: | 27 Sep 2019 03:46 |
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URI: | https://mpra.ub.uni-muenchen.de/id/eprint/92252 |