1.
Comoros
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Other countries near the Comoros are Tanzania to the northwest and the Seychelles to the northeast. Its capital is Moroni, on Grande Comore, the Union of the Comoros has three official languages – Comorian, Arabic and French. The religion of the majority of the population is Islam, at 1,660 km2, excluding the contested island of Mayotte, the Comoros is the third-smallest African nation by area. The population, excluding Mayotte, is estimated at 798,000, as a nation formed at a crossroads of different civilisations, the archipelago is noted for its diverse culture and history. The archipelago was first inhabited by Bantu speakers who came from East Africa, supplemented by Arab, the country consists of three major islands and numerous smaller islands, all in the volcanic Comoros archipelago. The major islands are known by their French names, northwestern-most Grande Comore, Mohéli. France has vetoed United Nations Security Council resolutions that would affirm Comorian sovereignty over the island, in addition, Mayotte became an overseas department and a region of France in 2011 following a referendum passed overwhelmingly. It became part of the French colonial empire in the 19th century before becoming independent in 1975, since declaring independence, the country has experienced more than 20 coups détat or attempted coups, with various heads of state assassinated. As of 2008 about half the population lived below the poverty line of US$1.25 a day. The Comoros is the state to be a member of the African Union, Francophonie, Organisation of Islamic Cooperation, Arab League. The name Comoros derives from the Arabic word قمر qamar, the first human inhabitants of the Comoro Islands are thought to have been Polynesian and Melanesian settlers, Malays and Indonesians, travelling by boat. The islands of the Comoros were populated by a succession of peoples from the coast of Africa, the Arabian Peninsula and the Persian Gulf, the Malay Archipelago, and Madagascar. Bantu-speaking settlers reached the islands as a part of the greater Bantu expansion that took place in Africa throughout the first millennium, according to pre-Islamic mythology, a jinni dropped a jewel, which formed a great circular inferno. This became the Karthala volcano, which created the island of the Comoros, development of the Comoros was divided into phases. The earliest reliably recorded phase is the Dembeni phase, during each island maintained a single. From the eleventh to the centuries, trade with the island of Madagascar and merchants from the Middle East flourished, smaller villages emerged. Many Comorians can trace their genealogies to ancestors from Yemen, mainly Hadhramaut, and Oman. According to legend, in 632, upon hearing of Islam, islanders are said to have dispatched an emissary, Mtswa-Mwindza, to Mecca—but by the time he arrived there, the Islamic prophet Muhammad had died
2.
Central bank
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A central bank, reserve bank, or monetary authority is an institution that manages a states currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries, Central banks in most developed nations are institutionally designed to be independent from political interference. Still, limited control by the executive and legislative bodies usually exists, prior to the 17th century most money was commodity money, typically gold or silver. However, promises to pay were widely circulated and accepted as value at least five hundred years earlier in both Europe and Asia. The Song dynasty was the first to issue generally circulating paper currency, in 1455, in an effort to control inflation, the succeeding Ming Dynasty ended the use of paper money and closed much of Chinese trade. The Bank of Amsterdam, established in the Dutch Republic in 1609, is considered to be the forerunner to modern central banks. The Wisselbanks innovations helped lay the foundations for the birth and development of the banking system that now plays a vital role in the worlds economy. Along with a number of local banks, it performed many functions of a central banking system. Lucien Gillard calls it the European guilder, and Adam Smith devotes many pages to explaining how the bank guilder works, the model of the Wisselbank as a state bank was adapted throughout Europe, including the Bank of Sweden and the Bank of England. Established by Dutch-Latvian Johan Palmstruch in 1668, Sveriges Riksbank is often considered by many as the worlds oldest central bank, the lenders would give the government cash and also issue notes against the government bonds, which could be lent again. A Royal Charter was granted on 27 July through the passage of the Tonnage Act 1694, the bank was given exclusive possession of the governments balances, and was the only limited-liability corporation allowed to issue banknotes. The £1. 2M was raised in 12 days, half of this was used to rebuild the Navy and these modern central banking functions evolved slowly through the 18th and 19th centuries. The currency crisis of 1797, caused by panicked depositors withdrawing from the Bank led to the government suspending convertibility of notes into specie payment. The bank was accused by the bullionists of causing the exchange rate to fall from over issuing banknotes. Nevertheless, it was clear that the Bank was being treated as an organ of the state, henry Thornton, a merchant banker and monetary theorist has been described as the father of the modern central bank. An opponent of the real bills doctrine, he was a defender of the bullionist position, thorntons process of monetary expansion anticipated the theories of Knut Wicksell regarding the cumulative process which restates the Quantity Theory in a theoretically coherent form. Until the mid-nineteenth century, commercial banks were able to issue their own banknotes, many consider the origins of the central bank to lie with the passage of the Bank Charter Act of 1844. Under this law, authorisation to issue new banknotes was restricted to the Bank of England, at the same time, the Bank of England was restricted to issue new banknotes only if they were 100% backed by gold or up to £14 million in government debt
3.
Mint (facility)
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A mint is an industrial facility which manufactures coins that can be used in currency. The history of mints correlates closely with the history of coins, in the beginning, hammered coinage or cast coinage were the chief means of coin minting, with resulting production runs numbering as little as the hundreds or thousands. In modern mints, coin dies are manufactured in large numbers, with the mass production of currency, the production cost is weighed when minting coins. For example, it costs the United States Mint much less than 25 cents to make a quarter, metals were well suited to represent wealth, owing to their great intrinsic value and their durability, divisibility and rarity. The first mint was established in Lydia in the 7th century BC, for coining gold, silver. The Lydian innovation of manufacturing coins under the authority of the spread to neighboring Greece. Some of the earliest Greek mints were within city-states on Greek islands such as Crete, at about the same time, coins and mints appeared independently in China and spread to Korea and Japan. The manufacture of coins in the Roman Empire, dating from about the 4th century BC, the origin of the word mint is ascribed to the manufacture of silver coin at Rome in 269 BC at the temple of Juno Moneta. This goddess became the personification of money, and her name was applied both to money and to its place of manufacture, Roman mints were spread widely across the Empire, and were sometimes used for propaganda purposes. The populace often learned of a new Roman Emperor when coins appeared with the new Emperors portrait, Ancient coins were made by casting in moulds or by striking between engraved dies. The Romans cast their larger copper coins in clay moulds carrying distinctive markings, not because they knew nothing of striking, casting is now used only by counterfeiters. The most ancient coins were cast in bulletshaped or conical moulds, the blank or unmarked piece of metal was placed on a small anvil, and the die was held in position with tongs. The reverse or lower side of the received a rectangular mark made by the sharp edges of the little anvil. Subsequently the anvil was marked in ways, and decorated with letters and figures of beasts. The spherical blanks soon gave place to lenticular-shaped ones, the blank was made red-hot and struck between cold dies. One blow was usually insufficient, and the method was similar to that used in striking medals in high relief. With the substitution of iron for bronze as the material for dies, about 300 AD, in the Middle Ages bars of metal were cast and hammered out on an anvil. Portions of the sheets were then cut out with shears
4.
French franc
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The franc, also commonly distinguished as the French franc, was a currency of France. Between 1450 and 1999, it was the name of coins worth 1 livre tournois and it was revalued in 1960, with each new franc being worth 100 old francs. The French franc was a commonly held reserve currency of reference in the 19th and 20th centuries. The first franc was a gold coin introduced in 1360 to pay the Ransom of King John II of France and this coin secured the kings freedom and showed him on a richly decorated horse earning it the name franc à cheval. The obverse legend, like other French coins, gives the title as Francorum Rex. Its value was set as one livre tournois, john’s son, Charles V, continued this type. It was copied exactly at Brabant and Cambrai and, with the arms on the horse cloth changed, conquests led by Joan of Arc allowed Charles VII to return to sound coinage and he revived the franc à cheval. John II, however, was not able to strike enough francs to pay his ransom, John II died as a prisoner in England and his son, Charles V was left to pick up the pieces. Charles V pursued a policy of reform, including stable coinage, an edict dated 20 April 1365 established the centerpiece of this policy, a gold coin officially called the denier d’or aux fleurs de lis which had a standing figure of the king on its obverse. Its value in money of account was one livre tournois, just like the franc à cheval, in accordance with the theories of the mathematician, economist and royal advisor Nicolas Oresme, Charles struck fewer coins of better gold than his predecessors. In the accompanying deflation both prices and wages fell, but wages fell faster and debtors had to settle up in better money than they had borrowed, the Mayor of Paris, Etienne Marcel, exploited their discontent to lead a revolt which forced Charles V out of the city. The States General which met at Blois in 1577 added to the pressure to stop currency manipulation. Henry III agreed to do this and he revived the franc and this coin and its fractions circulated until 1641 when Louis XIII of France replaced it with the silver Écu. Nevertheless, the franc continued in accounting as a synonym for the livre tournois. The decimal franc was established as the currency by the French Revolutionary Convention in 1795 as a decimal unit of 4.5 g of fine silver. This was slightly less than the livre of 4.505 g, silver coins now had their denomination clearly marked as “5 FRANCS” and it was made obligatory to quote prices in francs. e. Coinage with explicit denominations in decimal fractions of the franc also began in 1795, decimalization of the franc was mandated by an act of 7 April 1795, which also dealt with of weights and measures. France’s first decimal coinage used allegorical figures symbolizing revolutionary principles, like the designs the United States had adopted in 1793
5.
Madagascar
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Madagascar, officially the Republic of Madagascar, and previously known as the Malagasy Republic, is an island country in the Indian Ocean, off the coast of Southeast Africa. The nation comprises the island of Madagascar, and numerous smaller peripheral islands, consequently, Madagascar is a biodiversity hotspot, over 90% of its wildlife is found nowhere else on Earth. The islands diverse ecosystems and unique wildlife are threatened by the encroachment of the growing human population. The first archaeological evidence for human foraging on Madagascar dates to 2000 BC, human settlement of Madagascar occurred between 350 BC and AD550 by Austronesian peoples arriving on outrigger canoes from Borneo. These were joined around AD1000 by Bantu migrants crossing the Mozambique Channel from East Africa, other groups continued to settle on Madagascar over time, each one making lasting contributions to Malagasy cultural life. The Malagasy ethnic group is divided into 18 or more sub-groups of which the largest are the Merina of the central highlands. Until the late 18th century, the island of Madagascar was ruled by an assortment of shifting sociopolitical alliances. Beginning in the early 19th century, most of the island was united and ruled as the Kingdom of Madagascar by a series of Merina nobles, the monarchy collapsed in 1897 when the island was absorbed into the French colonial empire, from which the island gained independence in 1960. The autonomous state of Madagascar has since undergone four major constitutional periods, since 1992, the nation has officially been governed as a constitutional democracy from its capital at Antananarivo. However, in an uprising in 2009, president Marc Ravalomanana was made to resign. Constitutional governance was restored in January 2014, when Hery Rajaonarimampianina was named president following a 2013 election deemed fair, Madagascar is a member of the United Nations, the Organisation Internationale de la Francophonie and the Southern African Development Community. Madagascar belongs to the group of least developed countries, according to the United Nations, Malagasy and French are both official languages of the state. The majority of the population adheres to traditional beliefs, Christianity, ecotourism and agriculture, paired with greater investments in education, health, and private enterprise, are key elements of Madagascars development strategy. As of 2017, the economy has been weakened by the 2009-2013 political crisis, in the Malagasy language, the island of Madagascar is called Madagasikara and its people are referred to as Malagasy. The islands appellation Madagascar is not of origin, but rather was popularized in the Middle Ages by Europeans. On St. Laurences Day in 1500, Portuguese explorer Diogo Dias landed on the island, polos name was preferred and popularized on Renaissance maps. At 592,800 square kilometres, Madagascar is the worlds 47th largest country, the country lies mostly between latitudes 12°S and 26°S, and longitudes 43°E and 51°E. Neighboring islands include the French territory of Réunion and the country of Mauritius to the east, as well as the state of Comoros, the nearest mainland state is Mozambique, located to the west
6.
French colonial empire
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The French colonial empire constituted the overseas colonies, protectorates and mandate territories that came under French rule from the 16th century onward. The second empire came to an end after the loss of bitter wars in Vietnam and Algeria, competing with Spain, Portugal, the United Provinces, and later Britain, France began to establish colonies in North America, the Caribbean, and India in the 17th century. A series of wars with Great Britain and other European major powers during the 18th century, France rebuilt a new empire mostly after 1850, concentrating chiefly in Africa, as well as Indochina and the South Pacific. Republicans, at first hostile to empire, only became supportive when Germany started to build her own colonial empire and it also provided manpower in the World Wars. It became a mission to lift the world up to French standards by bringing Christianity. In 1884 the leading proponent of colonialism, Jules Ferry declared, The higher races have a right over the lower races, full citizenship rights – assimilation – were offered, although in reality assimilation was always receding the colonial populations treated like subjects not citizens. At its apex, it was one of the largest empires in history, including metropolitan France, the total amount of land under French sovereignty reached 11,500,000 km2 in 1920, with a population of 110 million people in 1939. In World War II, Charles de Gaulle and the Free French used the colonies as bases from which they fought to liberate France. However, after 1945 anti-colonial movements began to challenge European authority, the French constitution of October 27,1946, established the French Union which endured until 1958. Newer remnants of the empire were integrated into France as overseas departments. These now total altogether 119,394 km², which amounts to only 1% of the pre-1939 French colonial empires area, by the 1970s, says Robert Aldrich, the last vestiges of empire held little interest for the French. He argues, Except for the decolonization of Algeria, however. During the 16th century, the French colonization of the Americas began, the story of Frances colonial empire truly began on 27 July 1605, with the foundation of Port Royal in the colony of Acadia in North America, in what is now Nova Scotia, Canada. A few years later, in 1608, Samuel De Champlain founded Quebec, which was to become the capital of the enormous, New France had a rather small population, which resulted from more emphasis being placed on the fur trade rather than agricultural settlements. Due to this emphasis, the French relied heavily on creating friendly contacts with the local First Nations community and these became the most enduring alliances between the French and the First Nation community. The French were, however, under pressure from religious orders to them to Catholicism. Through alliances with various Native American tribes, the French were able to exert a loose control over much of the North American continent, areas of French settlement were generally limited to the St. Lawrence River Valley. Prior to the establishment of the 1663 Sovereign Council, the territories of New France were developed as mercantile colonies
7.
Antananarivo
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Antananarivo, then temporarily French Tananarive, also known by its French colonial shorthand form Tana, is the capital and largest city of Madagascar. The larger urban area surrounding the city, known as Antananarivo-Renivohitra, is the capital of Analamanga region. The city is located 1,280 m above the sea level in the center of the island, all 18 Malagasy ethnic groups, as well as residents of Chinese, Indian, European and other origins, are well represented in the city. Antananarivo is the political, economic, educational and cultural heart of Madagascar, the Presidency, National Assembly, Senate and Supreme Court are located here, as are 21 diplomatic missions and the headquarters of many national and international businesses and NGOs. Antananarivo also hosts the largest number of universities, nightclubs, art venues, medical services, several national and local sports teams, including the championship-winning national rugby team, the Makis, and several basketball and football teams, are based in Antananarivo. Declaring it the site of his capital, Andrianjaka built a rova that expanded to become the palaces of the Kingdom of Imerina. The city served as the capital of the Kingdom of Imerina from its founding until 1710 and his diplomatic and military successes extended Imerina far beyond its traditional borders, bringing the lands of neighboring ethnic groups under Merina control. Antananarivo remained the capital after Madagascar was colonized by the French in 1897. This neighborhood was developed under French rule and continues to serve as the capitals economic heart. The city is managed by the Commune Urbaine dAntananarivo under the direction of its President of the Special Delegation, Ny Havana Andriamanjato, Antananarivo was originally the site of a town called Analamanga, meaning Blue Forest in the central highlands dialect of the Malagasy language. Analamanga was established by a community of Vazimba, the islands first occupants, Andrianjaka, king of the Merina people who migrated to the region from the southeast coast, seized the location as the site of his capital city. According to oral history, he deployed a garrison of 1,000 soldiers to successfully capture, the hill and its city retained the name Analamanga until the reign of King Andriamasinavalona, who renamed it Antananarivo in honor of Andrianjakas soldiers. Unlike most capital cities in southern Africa, Antananarivo was already a city before the colonial era. The city was established in around 1610 or 1625 according to varying accounts, early Merina kings used fanampoana to construct a massive system of irrigated paddy fields and dikes around the city to provide adequate rice for the growing population. These paddy fields, of which the largest is called the Betsimitatatra, successive Merina sovereigns ruled over the Kingdom of Imerina from Analamanga through King Andriamasinavalonas reign. Andriamasinavalona designated specific territories for the hova and each andriana subcaste, numerous fady, including injunctions against the construction of wooden houses by non-nobles and the presence of swine within the city limits, were imposed. Upon Andriamasinavalonas death in 1710, Imerina split into four warring quadrants, during the 77-year civil war that followed, the eastern districts capital at Ambohimanga rose in prominence. The last king of Ambohimanga, Andrianampoinimerina, successfully conquered Antananarivo in 1793, he reunited the provinces of Imerina and he moved the kingdoms political capital back to Antananarivo in 1794, and declared Ambohimanga the kingdoms spiritual capital, a role it still maintains
8.
France
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France, officially the French Republic, is a country with territory in western Europe and several overseas regions and territories. The European, or metropolitan, area of France extends from the Mediterranean Sea to the English Channel and the North Sea, Overseas France include French Guiana on the South American continent and several island territories in the Atlantic, Pacific and Indian oceans. France spans 643,801 square kilometres and had a population of almost 67 million people as of January 2017. It is a unitary republic with the capital in Paris. Other major urban centres include Marseille, Lyon, Lille, Nice, Toulouse, during the Iron Age, what is now metropolitan France was inhabited by the Gauls, a Celtic people. The area was annexed in 51 BC by Rome, which held Gaul until 486, France emerged as a major European power in the Late Middle Ages, with its victory in the Hundred Years War strengthening state-building and political centralisation. During the Renaissance, French culture flourished and a colonial empire was established. The 16th century was dominated by civil wars between Catholics and Protestants. France became Europes dominant cultural, political, and military power under Louis XIV, in the 19th century Napoleon took power and established the First French Empire, whose subsequent Napoleonic Wars shaped the course of continental Europe. Following the collapse of the Empire, France endured a succession of governments culminating with the establishment of the French Third Republic in 1870. Following liberation in 1944, a Fourth Republic was established and later dissolved in the course of the Algerian War, the Fifth Republic, led by Charles de Gaulle, was formed in 1958 and remains to this day. Algeria and nearly all the colonies became independent in the 1960s with minimal controversy and typically retained close economic. France has long been a centre of art, science. It hosts Europes fourth-largest number of cultural UNESCO World Heritage Sites and receives around 83 million foreign tourists annually, France is a developed country with the worlds sixth-largest economy by nominal GDP and ninth-largest by purchasing power parity. In terms of household wealth, it ranks fourth in the world. France performs well in international rankings of education, health care, life expectancy, France remains a great power in the world, being one of the five permanent members of the United Nations Security Council with the power to veto and an official nuclear-weapon state. It is a member state of the European Union and the Eurozone. It is also a member of the Group of 7, North Atlantic Treaty Organization, Organisation for Economic Co-operation and Development, the World Trade Organization, originally applied to the whole Frankish Empire, the name France comes from the Latin Francia, or country of the Franks
9.
European Central Bank
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The European Central Bank is the central bank for the euro and administers monetary policy of the eurozone, which consists of 19 EU member states and is one of the largest currency areas in the world. It is one of the worlds most important central banks and is one of the seven institutions of the European Union listed in the Treaty on European Union, the capital stock of the bank is owned by the central banks of all 28 EU member states. The Treaty of Amsterdam established the bank in 1998, and it is headquartered in Frankfurt, Germany. As of 2015 the President of the ECB is Mario Draghi, former governor of the Bank of Italy, former member of the World Bank, the bank primarily occupied the Eurotower prior to, and during, the construction of the new headquarters. The primary objective of the ECB, mandated in Article 2 of the Statute of the ECB, is to price stability within the Eurozone. The ECB has, under Article 16 of its Statute, the right to authorise the issuance of euro banknotes. Member states can issue euro coins, but the amount must be authorised by the ECB beforehand, the ECB is governed by European law directly, but its set-up resembles that of a corporation in the sense that the ECB has shareholders and stock capital. Its capital is €11 billion held by the central banks of the member states as shareholders. The initial capital allocation key was determined in 1998 on the basis of the population and GDP. Shares in the ECB are not transferable and cannot be used as collateral, the European Central Bank is the de facto successor of the European Monetary Institute. The EMI itself took over from the earlier European Monetary Co-operation Fund, the bank was the final institution needed for EMU, as outlined by the EMU reports of Pierre Werner and President Jacques Delors. It was established on 1 June 1998, the first President of the Bank was Wim Duisenberg, the former president of the Dutch central bank and the European Monetary Institute. The French argued that since the ECB was to be located in Germany and this was opposed by the German, Dutch and Belgian governments who saw Duisenberg as a guarantor of a strong euro. Tensions were abated by an agreement in which Duisenberg would stand down before the end of his mandate. Trichet replaced Duisenberg as President in November 2003, there had also been tension over the ECBs Executive Board, with the United Kingdom demanding a seat even though it had not joined the Single Currency. Under pressure from France, three seats were assigned to the largest members, France, Germany, and Italy, Spain also demanded and obtained a seat. Despite such a system of appointment the board asserted its independence early on in resisting calls for interest rates, when the ECB was created, it covered a Eurozone of eleven members. On 1 December 2009, the Treaty of Lisbon entered into force, ECB according to the article 13 of TEU, on 1 November 2011, Mario Draghi replaced Jean-Claude Trichet as President of the ECB
10.
European Commission
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Commissioners swear an oath at the European Court of Justice in Luxembourg, pledging to respect the treaties and to be completely independent in carrying out their duties during their mandate. The Commission operates as a government, with 28 members of the Commission. There is one member per state, but members are bound by their oath of office to represent the general interest of the EU as a whole rather than their home state. One of the 28 is the Commission President proposed by the European Council, the current Commission is the Juncker Commission, which took office in late 2014. The procedural languages of the Commission are English, French and German, the Members of the Commission and their cabinets are based in the Berlaymont building in Brussels. The first Commission originated in 1951 as the nine-member High Authority under President Jean Monnet, the High Authority was the supranational administrative executive of the new European Coal and Steel Community. It took office first on 10 August 1952 in Luxembourg, in 1958 the Treaties of Rome had established two new communities alongside the ECSC, the European Economic Community and the European Atomic Energy Community. However their executives were called Commissions rather than High Authorities, the reason for the change in name was the new relationship between the executives and the Council. Some states such as France expressed reservations over the power of the High Authority, louis Armand led the first Commission of Euratom. Walter Hallstein led the first Commission of the EEC, holding the first formal meeting on 16 January 1958 at the Château of Val-Duchesse, Hallstein notably began the consolidation of European law and started to have a notable impact on national legislation. The three bodies, collectively named the European Executives, co-existed until 1 July 1967 when, under the Merger Treaty, the Rey Commission completed the Communitys customs union in 1968 and campaigned for a more powerful, elected, European Parliament. Despite Rey being the first President of the communities, Hallstein is seen as the first President of the modern Commission. The Malfatti and Mansholt Commissions followed with work on monetary co-operation, with that enlargement the Commissions membership increased to thirteen under the Ortoli Commission, which dealt with the enlarged community during economic and international instability at that time. Following the Jenkins Commission, Gaston Thorns Commission oversaw the Communitys enlargement to the south, the Commission headed by Jacques Delors was seen as giving the Community a sense of direction and dynamism. Delors and his team are considered as the founding fathers of the euro. The International Herald Tribune noted the work of Delors at the end of his term in 1992. He arrived when Europessimism was at its worst, although he was a little-known former French finance minister, he breathed life and hope into the EC and into the dispirited Brussels Commission. The successor to Delors was Jacques Santer, the entire Santer Commission was forced to resign in 1999 by the Parliament as result of a fraud and corruption scandal, with a central role played by Édith Cresson
11.
Moroni, Comoros
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Moroni is the largest city, federal capital and seat of the government of the Union of the Comoros, a sovereign archipelago nation in the Indian Ocean. In Comorian, Moroni translates as in the heart of the fire, perhaps alluding to the location at the foot of Mount Karthala. Moroni is the capital of the semi-autonomous island Grande Comore, the largest of the three islands of the republic. The citys estimated population in 2003 was 41,557 residents, Moroni, which lies along the Route Nationale 1, has a port and several mosques such as the Badjanani Mosque. Moroni was founded by Arab settlers, possibly during the 10th century, in December 2003, the Moroni Agreement on Transition Agreements was signed by the island presidents of the Union of Comoros. In the run up to the 2006 elections, the government-owned Radio Ngazidja and private station Moroni FM were raided by armed assailants, the city is on the western coast of Grande Comore island. Moroni has a rocky coastline, mostly without beaches. A small beach north of town at Itsandra contains the ruins of the Sultans Fort and Palace, settlements to the north of Moroni include Ntsoudjini, Ouellah, Bahani, Batsa, Vanambouani and Vanadjou, and to the south are Mvouni, Daoueni and Selea. Moroni is situated at the foot of Mount Karthala,10 kilometres northwest from the volcanos crater, the eruption of 2005 caused displacement of a large number of people due to volcanic ash. Moroni features a tropical rainforest climate, with heavy precipitation throughout the year—only October sees on average less than 100 mm of rain. The average annual rainfall is 2,700 millimetres and it rains during all months of the year, the monsoon season lasts from November to April. Humidity is in the range of 69 to 79 percent, moronis average temperatures throughout the year are relatively constant with a high in the range of 32–34 °C and a low in the range of 14–20 °C. As of 2011, Moroni had a population of about 54,000, sunni Muslims account for 98%, and there is a minority of Roman Catholics. Arabic and French are the official languages while Comorian, which is a Bantu language closely related to Swahili and heavily influenced by Arabic, is also spoken. Goods produced on the island are vanilla, cacao, coffee, soft drinks, processed and distilled essential oils, metal and wood products, and processed pozzolana, the tourist infrastructure is poorly developed. Financial institutions include Banque Centrale des Comores, Banque de Development des Comores, towards the south of Moroni are several markets, including the old market and the Dubai Market. The historic town centre, the Medina, contains a maze of narrow alleys, the old city centre is based on Zanzibars Stone Town, but is smaller. There are many mosques, notably the Badjanani Mosque pr Ancienne Mosquée de Vendredi and it was originally built in 1427, and a minaret was added in 1921
12.
CFA franc
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The CFA franc is the name of two currencies used in Africa which are guaranteed by the French treasury. The two CFA franc currencies are the West African CFA franc and the Central African CFA franc, although theoretically separate, the two CFA franc currencies are effectively interchangeable. Both CFA francs have an exchange rate to the euro,100 CFA francs =1 former French franc =0.152449 euro. They could theoretically have different values from any moment if one of the two CFA monetary authorities, or France, decided it, therefore, West African CFA coins and banknotes are theoretically not accepted in countries using Central African CFA francs, and vice versa. However, in practice, the permanent parity of the two CFA franc currencies is widely assumed, CFA francs are used in fourteen countries, twelve formerly French-ruled nations in West and Central Africa, Guinea-Bissau, and Equatorial Guinea. These fourteen countries have a population of 147.5 million people. The ISO currency codes are XAF for the Central African CFA franc, the currency has been criticized for making economic planning for the developing countries of French West Africa all but impossible since the CFAs value is pegged to the euro. Between 1945 and 1958, CFA stood for Colonies françaises dAfrique, since independence, CFA is taken to mean Communauté Financière Africaine, but in actual use, the term can have two meanings. The CFA franc was created on 26 December 1945, along with the CFP franc, the reason for their creation was the weakness of the French franc immediately after World War II. When France ratified the Bretton Woods Agreement in December 1945, the French franc was devalued in order to set an exchange rate with the US dollar. New currencies were created in the French colonies to spare them the strong devaluation, French officials presented the decision as an act of generosity. The CFA franc was created with an exchange rate versus the French franc. This exchange rate was changed twice, in 1948 and in 1994. Exchange rate,26 December 1945 to 16 October 1948 –1 CFA franc =1.70 FRF and this 0.70 FRF premium is the consequence of the creation of the CFA franc, which spared the French African colonies the devaluation of December 1945. The 1960 and 1999 events were merely changes in the currency in use in France, the devaluation of 1994 was an attempt to reduce these imbalances. Over time, the number of countries and territories using the CFA franc has changed as some countries began introducing their own separate currencies. A couple of nations in West Africa have also chosen to adopt the CFA franc since its introduction and they are distinguished in French by the meaning of the abbreviation CFA. The Central Africa CFA franc is known in French as the Franc CFA, where CFA stands for Coopération financière en Afrique centrale.0 million people, and a combined GDP of US$88.2 billion
Comoros
