Audio By Carbonatix
Mali will pay off 200 billion CFA francs ($332 million) of its internal debt from next week until the end of the year in a bid to ease its debt burden, its economy minister said on state television.
The junta-led West African nation's economy has been rocked by two coups in 2020-2021 and consequent regional sanctions, as well as years of armed conflict with Islamist militants.
Economy Minister Alousseni Sanou acknowledged the "increasing challenges we face" as he announced the debt repayment. He did not give an overall figure for the size of Mali's internal debt when he spoke to the broadcaster on Friday.
Last year, the International Monetary Fund warned that "the direction and pace of debt accumulation (in Mali) are worrisome."
The Fund said Mali's domestic debt had risen from a low base of 8.1% of gross domestic product in 2015 to 22.1% as of 2021.
Latest Stories
-
Shooting at South African bar leaves 11 dead, including a young child, police say
43 minutes -
Bobi Wine says Uganda security forces beat him
53 minutes -
Trump criticises Democrat he pardoned over not switching political parties
1 hour -
Wizkid shades Davido as his album emerges most streamed African album of 2025
5 hours -
Nigeria moves fast to shield Benin’s democracy from dawn coup, say Tinubu
5 hours -
Kufuor blames key Akufo-Addo policies for NPP’s 2024 defeat
5 hours -
Prof. Adei urges gov’t to back private universities as medical admissions hit crisis levels
6 hours -
Unity is the path to power – Kufuor calls for one strong NPP
6 hours -
Mahama marks first anniversary of election victory
6 hours -
Akufo-Addo managed Covid-19 well – Kufour
6 hours -
Ghana must fund its own education, not wait for donors – Mahama
7 hours -
‘Ketamine Queen’ spiralled before Matthew Perry death, friends tell BBC
7 hours -
Unity is key to NPP’s future progress – Kufour advises
7 hours -
The future is bright for African Rugby League referees – James Jones
7 hours -
Embrace ESG Materiality Assessment to unlock potential funding – Deloitte Assurance Partner to firms
7 hours