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WAEMU: Mali owes $4.6 million in unpaid interest to its creditors

03/02/2022
Categories: Index/Markets

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Due to the sanctions, $4.6 million in interest remained unpaid by Mali to its WAEMU creditors. In a note signed on February 1, 2022, the Ministry of Economy and Finance of Mali announced that the country was unable to pay a total sum of 2.7 billion FCFA ($4.65 million).

The country's finance ministry accuses the BCEAO of applying sanctions in violation of its statutes. 300 billion FCFA are affected by this blocking in 2022. This debt represents interest due on January 28, 2022 to its creditors, on the sub-regional money market. Mali indicates that it will only be able to continue to honor its commitments when the sanctions are lifted. This situation places the BCEAO in an unprecedented situation, and recent developments, particularly in Burkina Faso, could lead to similar cases, if the recent takeover by the military leads to the same level of sanctions.

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