BAMAKO, Feb 2 (Reuters) – Mali has defaulted on bonds worth 2.7 billion CFA francs, the finance ministry said on Wednesday, challenging sanctions imposed by the Economic Community of States from West Africa (ECOWAS).
The ECOWAS countries decided in early January to impose severe economic sanctions on Mali because of the delay deemed “unacceptable” in the holding of new elections in this country since the 2020 coup.
These new sanctions followed the decision of the Malian transitional authorities to postpone the organization of democratic elections to December 2025 instead of February 2022 as initially planned.
The West African Economic and Monetary Union (UEMOA) has at the same time asked all financial institutions under its aegis to suspend Mali with immediate effect, thus cutting off the country from access to regional financial markets.
“Because of these restrictions and although financial reserves are sufficient, the central bank has not proceeded with the repayment of bonds scheduled for January 28,” the ministry said, adding that Mali would proceed with the settlement of its debt. as soon as the sanctions are lifted.
(Tiemoko Diallo report, French version by Matthieu Protard, edited by Blandine Hénault)