Euro slump makes the CFA zone a victim of ‘imported inflation’

For the first time since 2002, the euro and the US dollar have been close to parity. In the space of a year, the European currency has lost 13.2% of its value against the greenback. This has dragged down the CFA franc used in West and Central Africa, which lost 11.46% of its value against the dollar between 31 December 2021 and 11 July, its lowest level for twenty years.