Special Status in Cameroon
Cameroon’s parliament granted special status
on Friday to two English-speaking regions in an attempt to quell the civil war which has ravaged the English-speaking areas of the country. However separatists have said only independence will satisfy them now.
Conflict between Cameroon’s army and English-speaking militias seeking to form a breakaway state called Ambazonia began after the government cracked down violently on peaceful protesters complaining of being marginalised by the French-speaking majority.
Ethiopia Gets The Bag
The International Monetary Fund have approved a three-year $2.9 billion financing package to support Ethiopia’s economic reform program.
The reform will focus on addressing the foreign exchange shortage and transitioning to a more flexible exchange rate regime, while working to strengthen oversight and management of state-owned enterprises.
Out With The Old In With The New
West Africa’s monetary union has agreed with France to rename its CFA franc the Eco
and cut some of the financial links with Paris. This follows the talks which were covered in a previous issue of The Brief
. The hope now is that the Eco is adopted by all of West Africa (including Ghana and Nigeria) rather than just the Francophone African countries such that there is a common West African currency thus boosting trade.