Mali blames sanctions for $31 million in bond defaults

Published on: Thursday 03 February 2022

BAMAKO (Reuters) -Mali has defaulted on more than $31 million of bond payments, its finance ministry and the West African debt management agency said on Wednesday, as sanctions imposed over elections delayed by the country's military junta took effect. The defaults add to mounting troubles for Mali, which has experienced two coups since August 2020 and has struggled for years to stem an Islamist insurgency that has drawn in foreign powers including former colonial ruler France. Mali failed to repay 15.6 billion CFA francs ($26.6 million) in relation to a treasury bond that matured on Jan. 31, the debt agency of West Africa's monetary union zone said in a note to investors.

News source: https://au.finance.yahoo.com/news/mali-says-defaulted-bonds-blames-111809306.html

Share this news on: Facebook Twitter

My Financial News from Mali, Financial analytics

Mali blames sanctions for $31 million in bond defaults