Mali’s government has announced plans to pay off 200 billion CFA francs (around $332 million) of its internal debt starting next week, continuing until the end of the year. The aim is to reduce the country’s debt burden, according to Economy Minister Alousseni Sanou, who spoke on national television.

Mali’s economy has faced significant strain following two coups in 2020 and 2021, regional sanctions, and ongoing conflicts with Islamist militants. Minister Sanou acknowledged the increasing challenges the country is dealing with but did not specify the total amount of Mali’s internal debt.

In 2023, the International Monetary Fund (IMF) raised concerns about Mali’s growing debt, noting that domestic debt had jumped from 8.1% of GDP in 2015 to 22.1% by 2021