Mali will begin repaying 200 billion CFA francs ($332 million) of its domestic debt next week, with plans to complete the payments by the end of the year, the country’s economy minister announced on state television. This move is aimed at alleviating the financial strain caused by years of political instability and ongoing conflict.
The West African nation has faced significant economic challenges following two coups in 2020 and 2021, coupled with regional sanctions and persistent armed clashes with Islamist militants. Despite these hurdles, Economy Minister Alousseni Sanou acknowledged the country’s “increasing challenges” but did not disclose the full size of Mali’s domestic debt during his address.
The International Monetary Fund (IMF) has previously raised concerns over Mali’s rising debt, noting a sharp increase in domestic debt from 8.1% of GDP in 2015 to 22.1% by 2021.