Finance

Mali denied access to WAEMU money market, financial investors at risk

Thursday, 13 January 2022 18:07
Mali denied access to WAEMU money market, financial investors at risk

(Ecofin Agency) - With the ongoing ECOWAS pressure on Mali, the country is denied access to the regional financial market. The information was relayed by Reuters, which cited a note from the WAEMU Commission.

On January 12, Mali requested CFA30 billion (about $52.4 million) on the market in a bond issue. The results of this operation are still pending. Denying Mali access to the financial market is not only an obstacle for the government but also for investors who are interested in Malian bonds. It also risks affecting banks’ portfolio position. The country is considered a good risk. Of the CFA5,129 billion solicited since 2014, Malian authorities have collected about CFA7,463 billion, and have retained a little more than CFA4,000 billion.

Moreover, this ban from the regional market poses a risk to how the country will repay the CFA392 billion, representing its previous bonds that will mature in 2022. The sanction should not apply to private companies operating in Mali.

Let’s note that in this battle against the regional community, Mali is supported by China and Russia.



 
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