The decision to maintain a low inflation rate had the effect of curbing the growth potential of the countries of the zone. The situation did not improve following the pegging of the CFA franc to the euro in 1999. Since then, the African countries of the franc zone have recorded an average annual growth rate of per capita income of 1.4 per cent, vis-à-vis 2.5 per cent for sub-Saharan Africa as a whole.

Fanny Pigeaud_ Ndongo Samba Sylla, Africa's Last Colonial Curr…, loc. 307