Bank of Central African States refutes CFA devaluation claim

 The Bank of Central African States has denied rumours that it is considering a devaluation of the CFA franc currency due to the economic downturn caused by the coronavirus outbreak.

The institution explains in a statement, that the pandemic has not impacted its currency reserves, which remain “comfortable”.

The Bank of Central African States, also known as Banque des Etats de I’Afrique Centrale (BEAC), consists of Cameroon, Gabon, Central African Republic, Chad, Republic of the Congo and Equatorial Guinea.

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