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
-
Flights in and out of Middle East cancelled and diverted after Iran strikes
5 minutes -
Dr Maxwell Boakye to build 50-bed children’s ward at Samartex Hospital in honour of late mother
16 minutes -
One killed and 11 injured at Dubai and Abu Dhabi airports as Iran strikes region
22 minutes -
Former MCE, 8 others remain in custody over alleged land fraud in Kumasi
28 minutes -
Black Queens players stranded in UAE over Israel-Iran conflict
1 hour -
James Owusu declares bid for NPP–USA chairman, pledges renewal and unity
2 hours -
Trump threatens strong force if Iran continues to retaliate
2 hours -
Lekzy DeComic gears up for Easter comedy special ‘A Fool in April’
3 hours -
Iran declares 40 days of national mourning after Ayatollah Ali Khamenei’s death
4 hours -
Family of Maamobi shooting victim makes desperate plea for Presidential intervention
5 hours -
Middle East turmoil threatens to derail Ghana’s single-digit gains
6 hours -
Free-scoring Semenyo takes burden off Haaland
6 hours -
Explainer: Why did the US attack Iran?
7 hours -
Peaky Blinders to The Bride!: 10 of the best films to watch in March
7 hours -
Crude oil price crosses $91 as Strait of Hormuz blockade chokes 22% of global supply
8 hours