Djibouti - French Overseas Territory

Djibouti, a small but strategically important country in the Horn of Africa, was under French colonial rule until the late 1960s. Between 1967 and 1977, the territory gradually moved towards independence, while a number of internal and external factors shaped its social, economic and political life. During French colonial rule, Djibouti's economy primarily served French interests. The port and railway played a significant role in the region's trade, but provided few benefits to the local population. By the 1960s, independence aspirations were becoming stronger, and a significant part of the local political elite and the population also supported the creation of their own state. During the Cold War, Djibouti's geopolitical position became particularly important. The strategically located country was located at the intersection of Soviet and American interests. The Soviets supported local independence movements, while France sought to maintain its influence in the region. In the early 1970s, the French government recognized that the situation in Djibouti was unsustainable. Growing internal pressure and international changes prompted independence negotiations. On June 27, 1977, Djibouti officially became an independent state. After gaining independence, Djibouti faced many challenges. The colonial legacy, economic dependence, and political instability all hindered the country's development. Territorial disputes with neighboring countries further complicated the situation.

Djibouti was a French overseas territory (1967–1977), during the French colonial period, Djibouti used the French franc. This currency was the basis of the territory's financial system. The territory's financial system was closely integrated with that of France, so decisions regarding coinage were largely dependent on the French authorities. Djibouti gained independence in 1977 and introduced its own currency, the Djiboutian franc.