United Nations

The African Union (AU) was built on these unresolved differences that persist to this day. The Constitutive Act of the African Union (Art. 3) assigns to the AU the responsibility to 'promote and defend common African positions on issues of interest to the continent and its peoples.' The AU Commission (AUC) Statutes assigned the task of 'drafting AU common positions and coordinating Member States’ actions in international negotiations' to a Secretariat that had no supranational mandate. The writing was on the wall.

These three positions are expected to play a fundamental role in developing OSAA’s Strategic Agenda and promoting a new narrative that contributes to the empowerment of African countries to deliver sustainable development in Africa.

The News and Events published every week include conferences, major developments in the field of International Economic Law in Africa at the national, sub-regional and regional levels as well as relevant case law.

The News and Events published every week include conferences, major developments in the field of International Economic Law in Africa at the national, sub-regional and regional levels as well as relevant case law.

Recent developments in the cryptocurrency space have brought the 1942 Churchill words to the fore. Is this the beginning of the end of traditional currency? Or the end of the beginning of digital currency? In April 2021, the Central African Republic (CAR) signed a law adopting bitcoin as an official local currency, alongside the CFA franc. This was part of the country’s broad-based plans to solve exchange rate challenges and integrate cryptocurrencies into its financial system. The signing made the CAR the first African country and the second in the world after El Salvador (which took a similar step on September 7, 2021) to adopt bitcoin as a legal tender. However, CAR’s bitcoin experiment was a controversial move and sparked a backlash from regional and international financial organizations like the Bank of Central African States (BEAC) and the International Monetary Fund (IMF). However, the CAR’s Presidency believes that the move will “open up new opportunities” for the country. In this paper, I examine some of the political and economic implications of the “Bitcoin” experiment in CAR by answering two questions: is the adoption economically viable? Or is it an attempt to undermine the French-backed CFA franc and close ties with Russia?

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

This event is sponsored by Brooklyn Law School, the Dennis J. Block Center for the Study of International Business Law and the Brooklyn Journal of International Law.

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

The News and Events published every week include conferences, major developments in the field of International Economic Law in Africa at the national, sub-regional and regional levels as well as relevant case law.

The News and Events published every week include conferences, major developments in the field of International Economic Law in Africa at the national, sub-regional and regional levels as well as relevant case law.