Professor Abd al-Wadud Ould Sheikh, a French university anthropology and sociology expert, stated that Mauritania's creation of its national currency, the ouguiya, in the 1970s was not met with enthusiasm from France and several other West African countries tied to the CFA franc. He made these comments while presenting a book in Nouakchott on the history of money in Mauritania. The book, co-authored with Dr. Mohamed Vadel Ould Abah, provides an analysis of the country's financial institution and national currency.
Ould Sheikh emphasized that Mauritania's decision to establish its national currency was economically and institutionally challenging due to its recent independence and limited human and material resources. He noted that the book, published by the Central Bank of Mauritania, offers a critical and objective reading of the financial institution's path and the national currency. The book also considers the national reality and regional context.
The 378-page book provides a historical and analytical overview of the creation of the Mauritanian national currency by the Central Bank of Mauritania. It examines various means of exchange that facilitated trade in the Saharan and coastal regions. Additionally, the book discusses the integration of the region into the French monetary system.
The presentation of the book occurred on Tuesday evening in Nouakchott. During the event, Ould Sheikh highlighted the significance of understanding the history of money in Mauritania. The book is seen as a valuable resource for those interested in the country's economic development.
Ould Sheikh's comments suggest that France was not keen on Mauritania creating its national currency. This lack of enthusiasm may have been due to concerns about the potential impact on the CFA franc and the economic relationships between France and West African countries.
The creation of the ouguiya marked a significant milestone in Mauritania's economic development. The national currency has played a crucial role in the country's monetary policy and economic growth. Understanding the history of the ouguiya's creation can provide valuable insights into Mauritania's economic challenges and opportunities.
The book on the history of money in Mauritania is a collaborative effort between Ould Sheikh and Dr. Mohamed Vadel Ould Abah. It is a significant contribution to the field of economic history and provides a comprehensive analysis of the country's financial institution and national currency.
Key points
- The creation of the ouguiya was a challenging process for Mauritania due to its recent independence and limited resources.
- The book provides a critical and objective reading of the Central Bank of Mauritania's path and the national currency.
- France was not enthusiastic about Mauritania creating its national currency, potentially due to concerns about the impact on the CFA franc.
