When I was a kid this got sung around me a lot. I didn't know Spanish until later in my life (not very well, then) but I got the sense from body english, facial expressions, etc. that Franco was meant to "take a walk" (leave) "And Franco will be walking (out)". (Don't Aussies say someone's "gone walkabout" to mean they've left, perhaps for parts unknown?) My stepdad was in the Abraham Lincoln Brigade. And Si Mi Quieres Escribir was done a lot. I can still sing that one. I never learned more than the cho. of Venga Jaleo, Jaleo.    Tw
P.S. If I turn out to be wrong, it won't be the first time.