Mali to Repay $332 Million in Internal Debt Amid Economic Struggles

Mali’s transitional government has announced its intention to repay 200 billion CFA francs (approximately $332 million) of internal debt starting next week, a move that will continue until the end of the year.

The decision, aimed at reducing the country’s debt burden, was disclosed by Economy Minister Alousseni Sanou during a national television broadcast.

Mali’s economy has been under pressure due to a series of political and security challenges, including two coups in 2020 and 2021, regional sanctions, and ongoing conflicts with Islamist militants.

Minister Sanou acknowledged these difficulties but did not disclose the total amount of the country’s internal debt.

In 2023, the International Monetary Fund (IMF) expressed concerns over Mali’s increasing debt levels, pointing out that domestic debt had surged from 8.1% of the nation’s GDP in 2015 to 22.1% by 2021.

This repayment plan represents an effort by the transitional government to address some of these economic challenges.

 

 

 

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