Mali Defaults on Domestic Debt After Economic Bloc’s Sanctions
- Debt payments totaling $31.6 million were missed: UMOA-Titres
- West African bloc imposed financial sanctions on Mali Jan. 9
Interim Malian President Colonel Assimi Goita, center.
Photographer: Anne Risemberg/AFP/Getty Images
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Mali missed payments totaling about $31.6 million on its domestic debt after West Africa’s economic bloc imposed sanctions on the country following last year’s coup.
Mali was unable to make coupon payments totaling 2.7 billion CFA francs ($4.65 million) due Jan. 28 on two bonds because its account with the regional central bank was frozen and all transactions through the lender have been blocked, the nation’s Finance Ministry said in a statement Wednesday.