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
-
T-bills auction: Government records marginal oversubscription; interest rates rise
3 mins -
We, the chiefs and people of Kpando, have high hopes in your leadership – Togbe Dagadu IX
11 mins -
Ibrahim Osman scores first Feyenoord goal, gets two assists in win over Go Ahead Eagles
14 mins -
Inaki Williams scores brace in Athletic Bilbao win over Espanyol
33 mins -
Mr. Haglah grabs nomination at 2024 Guinness Ghana DJ Awards
42 mins -
Big Chef Tertiary 2: Team CCTU ‘chopped’ in local food challenge
49 mins -
Rivalry, discord, corruption, tearing Ghana’s creative arts apart
1 hour -
‘The Originals’ Halloween Takeover: Dark Suburb Live at Antioch Lounge and Bar
2 hours -
‘The kid is special’ – Gary Lineker hails Fatawu Issahaku
2 hours -
Mental health disorders and free treatment: NHIS to the rescue
3 hours -
The Milton: A sound real estate investment in Accra’s premier Airport Residential Area
3 hours -
Bagbin must respect SC’s ruling on 4 MPs; doing otherwise will taint his career
3 hours -
Muslim congregants flee, as bees invade Sunyani Central Mosque
3 hours -
‘We’ll come after you’ – Osman Ayariga to resigned ‘corrupt’ government appointees
3 hours -
Mahama reaffirms pledge to support startups in poultry, and other small businesses
3 hours