Francophone Africa and the franc zone: a crisis of confidence?

Article Abstract:

The Franc Zone is an arrangement between France and its former colonies to guarantee the convertibility of their currencies with the French franc. The exchange rate between France and the monetary unions of its former colonies in West and Central Africa has been pegged at 50 CFA francs to one French franc since 1948. The CFA franc is currently overvalued, creating severe economic problems in Francophone Africa: foreign investment is decreasing, growth has deteriorated, and public indebtedness has increased. France refuses to devalue the CFA franc and is providing liquidity to ensure its convertibility. In the 1990s, a change in the peg of the CFA franc is likely: the development of the European Monetary System may create stable exchange rates for trade between the Franc Zone and Europe, and the CFA franc may receive a new peg by default through the creation of a European Monetary Unit.

Economic aspects, Prices and rates, France, International aspects, Foreign exchange, Africa, Sub-Saharan Africa, Franc (France), Franc (CFA)

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Zone of dreams

Article Abstract:

The UN Development Programme has endorsed a plan to modernise two ports and develop the Tumen River delta into an economic zone that would serve the northeastern parts of China and North Korea, and open a land bridge from Japan to Europe. The Japanese and the South Koreans have reservations about investing in the project and the Russians object to spoiling the potential tourist and recreation site. Around $30 billion dollars needs to be raised to finance the project.

Finance, Remodeling and renovation, Harbors, Ports, North Korea, Foreign trade zones, Korea, North

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South Africa's 'taxis' multifaceted media on wheels

Article Abstract:

South African minibuses, which in local parlance are called taxis, are increasingly becoming popular to entrepreneurs as unexploited advertising space. Most common are the branded taxis which carry a sales pitch in the entire outside except for the windows. The brand advertised is also advertised inside the taxis' sound system. In addition, taxi stands have become sites for product demonstrations.

Strategy & planning, South Africa, Urban Transit Systems, Local Bus Lines

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