During the colonial era, Cameroon was divided under the control of France and Britain, creating the territories of French and British Cameroon. Upon gaining independence, notable disparities emerged between France and Cameroon, stemming from differences in their economic structures and export compositions.
After France's inclusion in the European Union in 1999, the CFA franc was linked to the French franc, while a considerable portion of Cameroon's foreign reserves were held within the French Treasury, jointly managed by both French and Cameroonian central bankers.
France's presence in Cameroon is diverse, with more than 100 subsidiaries and 200 businesses owned by French citizens. This extensive economic involvement has allowed France to retain preferential market access within Cameroon.
Despite Cameroon's independence, an agreement forged during its colonial period has led to ongoing financial obligations to France. This arrangement has created a situation where Cameroon continues to make substantial payments to France. Unfortunately, similar to other African countries formerly under French colonial rule, this economic pact is perceived as obstructing Cameroon's potential for economic growth. Often, the benefits are skewed towards Cameroonian leaders who receive bonuses from France, leaving the entire nation to bear the brunt of the losses incurred due to this agreement.
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