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Mali said that it had “settled all outstanding debts” caused by sanctions imposed by West African states after two coups in the country. Because of ECOWAS sanctions, the West African country was unable to “settle its debt service” between January and July.
Mali said that it had “settled all outstanding debts” caused by sanctions imposed by West African states after two coups in the country. Because of ECOWAS sanctions, the West African country was unable to settle its debt service” between January and July.
The announcement made recently followed the lifting of sanctions decided in early July by ECOWAS leaders after Mali’s military junta decided to rule for five years. As a result of the sanctions, institutions such as the World Bank and the African Development Bank suspended disbursements to Mali, which was notably in default, especially on the West African financial market.
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The ruling junta gave in to the demands of ECOWAS by publishing a new electoral law and a timetable for the election. According to the undertaking given to the West African grouping, the presidential election will be held in February 2024. This timetable was accepted by the West African organisation.
