Once African countries have Western banks controlling their economies, they will always have problems.The IMF and World Bank are not the solution.Those two financial institutions have destroyed many countries .The Russian Ukrainian war has opened many financial Minister's eyes to the reality of the Western systems ,to keep countries in poverty We understood the reasons for that to get the resources cheap . Self-sufficiency is the way for Africa to go .
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t is always good to be social and this is why I like reading many comments here to learn , thank you for sharing such info at least I will be doing this together with my partner.
What if Africa AU decided Africa to trade within its member countries using the barter trade mode but only use its currencies or € when trading overseas
So sadly to see my Tanzanian local currency is in worse moments. But how can we overcome the situation, remaining as myths. I,have been studying Economics for little so long,but didn't understand how,as Tanzanian can I contribute for the appreciation of my local currency. That is,how can few ( or a unit of ) local currency able to be exchanged for as more as many valuable items.
Sebbo.... museveni and kagame are puppets of the west...the west does not talk about their evil doings... even if they kill millions in Congo...the west covers them up...they do risk management for the west
@@emapun7095 and how is this related to the Ugandan Shilling being weaker than the Tanzanian Shilling....or are you trying to say the channel has Western interests at hand.....let's not politicize everything
@@Opendi01my brother I'm not Ugandan...but u can call it politicising but I don't care...I've told u Western media don't disseminate negativities about Uganda...Rwanda and Cameroon...those three president are western puppets...if u don't get it...forget about it
First of all, there is no need of research in order to understand that inflation equate depreciation of currency. This is why you can use depreciation of currency to explain inflation. Also, it is absolutely difficult to understand how an invasion of a single country far away from Africa, in another continent can explain inflation in other words the rise of the level of prices on entire continent, this is a madness. If it is not drought then it must be war, if it is not war in Africa then a war far away must be the reason. And today the tragedy in Ukraine becomes the alpha and omega of every tragedy in Africa. This is not serious. You are here saying 'Apart from having the highest number of under-developed countries, Africa also serves as home to some of the worst-performing currencies in the world.', you forget that God who has created has provided, thus Africa could have not being what you describe as 'apart from having the highest number of under=developed countries', how can it be otherwise if exploitation, predation have characterized the relationship between Africa and some on this planet for centuries? How many countries the developed countries that have been into Africa for centuries for centuries as colonizers, have developed? Why don't you go and ask the British, the French and so on to show you a single country colonization, empires, the Commonwealth, the Francophonie, etc have allowed the development in Africa? Be an African other than a dictator and dare to think in terms of a developed Africa and you will see what will happen to you.
Dear Journalist the Central African Franc that we call CFA which is used for 14 African Countries (Cameroon, the Central African Republic, chad, Republic of Congo, Equatorial Guinea, Gabon, Banyan, Burkina Faso, Ivory Coast, Guinea Basal, Mali, Niger, Senegal, Togo,...) isn't issued by the bank of central African States located in Yaoude and in Dakar but issued in a small village located in FRANCE called CHAMALIERES. The production of CFA franc notes and coins, of these 14 countries, has been carried out at Chamalières by the Bank of France since its creation in 1945. You can do better research and give accurate information to your public as they need to be well informed. thank you. These fourteen countries have a combined population of 193.1 million people (as of 2021), and a combined GDP of US$283.0 billion (as of 2021). Who owns CFA currency? The CFA franc is one of two regional African currencies backed by the French treasury not African Treasuries.
Nice informative video. However, in the case of Nigeria, for instance. IMF always stipulated Naira devaluation as part of the preconditions for any loan. My question is, why must a nation's currency be devalued in order to secure a loan?
@Blessed-Osbert Inyang, you are wrong. What this narrator is is saying is the norminal value, and the norminal value does not really mean anything. The real value is what the currency can buy. For example, in Nigeria, $1 = 450 Naira while in Ghana 1$ = 12.3 Ghanaian Cedis. The real value is what 450 Naira can buy vs what 12.3 Cedis can buy. For example, in Japan, $1 = 131 Japanese Yen. That deos not mean that the Japanese yen is worst than the Cedis.
@@jonathanokemute6789 please tell me where you get that rate from. Literally no one, no business no broker or company uses this rate in nigeria please stop lying to yourself
1 US dollar is equal to 15 Eritrean Nakfa. I don't know how the Eritrean government maintained it to that level with all the illegal sanctions imposed on the country. Sudan was also doing well when it had US sanctions...economics is complex at times
It's sad to see the cedis go down in performance this way, when 2/3 years ago it was the best performing currency and even performed better than the dollar, which made a good record. All hope is not gone, though its performance is not the best but still remains at its position(3rd) in Africa's most strongest currencies, after Lybia and Tunisia
The Ghana Cedi which performed terribly last year is currently one of the best performing currencies in Africa this year now at GHS 10.76 to the USD. Please get your facts right when you make a video or else you become click bait and only knumbskulls will consider your content as informative, you might even get sued bro.
@@mjrchiwex5075 iwe Uri benzi rekupedzisira . Don't comment when iwewe Uri munhu akakurira nekugara mu one town if even a town considering the rate of stupidity you display here. Zimbabwe is a multi- currency economy. In the southern part of zim they use Rand and Pula simultaneously with USD , in areas bordering Zambia, the Kwacha is legal tender especially in Chirundu. In Harare some establishments accept Pounds. 🚮 Vanhu vakakurira mubako vanoneta mhani.
