Ultimately, France once again demonstrated that its guarantee is a myth. It is sufficient to examine the budget laws of the years 2016, 2017 and 2018 to confirm this: as already stated in Chapter 2, the French government has not allocated any funds to ensure, if necessary, the convertibility of the CFA franc. The amount indicated on the line dedicated to the 'monetary agreements', which refers to the Treasury's commitments towards the BEAC, the BCEAO and the BCC, is zero euro.

Fanny Pigeaud_ Ndongo Samba Sylla, Africa's Last Colonial Curr…, loc. 246