Monetary imperialism in Francophone Africa
The transcript of a conversation with Senegalese development economist, Ndongo Samba Sylla, about monetary policy and its colonial legacy.
What follows is an interview with Ndongo Samba Sylla on Money on the Left, the official podcast of the Modern Money Network’s Humanities Division. Sylla is a Senegalese development economist, and research and program manager of the West Africa office of the Rosa Luxemburg Foundation. He is also the author of many articles and three books, including the recently published L’arme invisible de la Françafrique (“The Invisible Weapon of Franco-African Imperialism”). In that book, Sylla and co-author Fanny Pigeaud lay out a comprehensive case against the CFA franc, which is the neocolonial currency union that presently constrains the social, political, and economic prospects of each of its member states. In this episode, Scott Ferguson and Maxximilian Seijo talk with Sylla about the history of political economy in pre- and post-colonial Africa, the theoretical bases and political stakes of the anti-CFA franc movement, and how Modern Monetary Theory (MMT) ought to inform current and future efforts to restore political and economic sovereignty to West African nations.