Fixed Exchange Rate. Since January 1999, the Republic has maintained a fixed exchange rate of CFAF 655.957/€1. If domestic or international circumstances were to force the Republic to abandon its fixed exchange rate policy in the future, the cost of servicing the Republic’s external debt (including the Securities) could escalate sharply, possibly forcing the Republic into another round of debt restructuring.
Appears in 2 contracts
Sources: Exchange Agreement, Exchange Agreement