In 1964, Modibo Keita was forced to turn to Paris. In 1967, Mali returned to the franc zone, an operations account was opened at the French Treasury and the Malian franc was devalued by 50 per cent. 'President Modibo Keita's regime, due to an incorrect management of the currency, has committed hara-kiri', sentenced the economist Joseph Tchundjang Pouemi. Pouemi thought that the Malian government had committed the error of 'printing money' to finance unproductive projects. Moreover, the Malian president had failed to reform the banking system, which had maintained the same institutional architecture of the colonial period.

Fanny Pigeaud_ Ndongo Samba Sylla, Africa's Last Colonial Curr…, loc. 162