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RECURRING COUPS WORSENS MALI’S ECONOMIC FUTURE

Jun 10, 2021

By Zuleikha Ahmed
10:06:2021

Mali has come under the media’s eye as the country faces the most coups in the past years; with its nine-month recent coup, the countries struggle seem to be worsening.

The land-locked country of 20 million is one of the poorest in the world and is also largely dependent on imports. For now, the country’s military regime has escaped the type of economic sanctions imposed after last year’s August military takeover. But these sanctions could be re-imposed unless its military regime heeds to pressure from its trading partners to return to civilian rule.

With the countries’ suspension from the AU, their representatives are struggling with accessible African trade areas, which help boost and trade positions.

The fear of sanctions might lead domestic and foreign investors to withdraw before engaging in new businesses in Mali. Social unrest, strikes, and demonstrations negatively impact any country’s social status, thus causing its investors to turn away, being afraid of investment losses.

But in a signal of what may come, the World Bank, which at present finances more than $1.5 billion in projects in Mali, halted payments to operations in the country on June 4. The bank says it is closely monitoring and assessing the situation.

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