In 1992, rumours of an imminent devaluation spread, which aggravated capital flight. This triggered a panic among the African leaders, who had not received any warning from Paris. On 31 July, Felix Houphouët-Boigny, Omar Bongo, Blaise Compaoré and Abdou Diouf rushed to the Élysée. They asked François Mitterrand to intervene to prevent the devaluation. Their French host reassured them… when in fact the decision to devalue had already been taken!

Fanny Pigeaud_ Ndongo Samba Sylla, Africa's Last Colonial Curr…, loc. 209