Mali will not be able to complete a 30 billion CFA franc (US$52 million) sale of T-bills this week because of sanctions imposed by its neighbours, regional financial officials said.
The sanctions, imposed by the Economic Community of West African States (ECOWAS) and the regional monetary union UEMOA, include the suspension of financial transactions, the closing of land and air borders and the freezing of Mali’s assets in central and commercial banks.
“The Malian government will not be able to raise funds to finance its budget or finance certain important projects after the note that we received from UEMOA,” an UMOA-Titres official told Reuters on condition of anonymity. “We are not going to approve any request.”
Mali’s government was not immediately available to comment.