Having a gold reserve means you're not exposed to a fluctuating foreign exchange rate or SWIFT sanctions cutting off your ability to borrow.
Niger can get away with it most of all because they have so much to mine. An expansionary gold supply solves the problem of growing your currency at the pace of your economy.
So it's not as bad idea on its face as it is in theory.
You aren’t totally wrong though, Traoré is the de facto leader of the entire Alliance of Sahel States (ASS) in addition to being the leader of Burkina Faso.
Mali, Niger and Burkina Faso form ASS, an impromptu anti-colonial alliance formed to oppose ECOWAS, France, Nigeria and ISIS/Western backed jihadists. They are aligned with Russia.
Having a gold reserve means you're not exposed to a fluctuating foreign exchange rate or SWIFT sanctions cutting off your ability to borrow.
Niger can get away with it most of all because they have so much to mine. An expansionary gold supply solves the problem of growing your currency at the pace of your economy.
So it's not as bad idea on its face as it is in theory.
This is Burkina Faso
Guh. Got this crossed with the other coup leader.
You aren’t totally wrong though, Traoré is the de facto leader of the entire Alliance of Sahel States (ASS) in addition to being the leader of Burkina Faso.
Mali, Niger and Burkina Faso form ASS, an impromptu anti-colonial alliance formed to oppose ECOWAS, France, Nigeria and ISIS/Western backed jihadists. They are aligned with Russia.
https://en.m.wikipedia.org/wiki/Alliance_of_Sahel_States
Imma need them to team up with the Moro Islamic Liberation Front (MILF) 🥵🥵🥵
I kinda read your comment as saying, if Niger can do it, Burkina Faso should at least try.
oooooh wrong country