Ibrahim Traoré announces new national currency, the SIRA, in Burkina Faso.

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Burkina Faso, under the leadership of Captain Ibrahim Traoré, recently announced the introduction of a new national currency, the SIRA, as part of an effort to reinforce the country’s economic sovereignty.

This initiative includes the creation of the Treasury Deposit Bank (BDT), which will allow Burkina Faso to conduct financial transactions independently of the Central Bank of West African States (BCEAO) and France, paving the way for the abolition of the CFA franc.

In parallel, Burkina Faso, Mali and Niger have formed the Alliance of Sahel States (AES), a confederation aimed at strengthening regional cooperation and economic autonomy. One of the goals of this alliance is the creation of a common currency, backed by gold reserves, to replace the CFA franc.

This move is seen as a significant step towards financial independence and a reduction in external influence on the monetary policy of these countries. In addition, the three countries announced the introduction of biometric passports bearing the AES logo, with the aim of harmonizing travel documents and facilitating the mobility of citizens around the world. This measure follows the joint decision to withdraw from the Economic Community of West African States (ECOWAS), reflecting a strategic shift in the quest for greater regional autonomy.

These initiatives reflect a concerted effort by the Sahel countries to consolidate their economic and political sovereignty, moving away from post-colonial structures and strengthening regional cooperation for sustainable development and stability.