Mali sues regional monetary union citing debt crisis

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Mali has sued West Africa’s monetary union over sanctions imposed on the country after the military junta reneged on a promise to hold early elections.

State lawyers are seeking the lifting of the sanctions imposed on Mali citing a debt crisis.

The West African Economic and Monetary Union (UEMOA) on 9 January told all financial institutions in its eight-nation group to suspend the country.

The regional bloc Ecowas also imposed sanctions on Mali, which include the freezing of its assets in member nations’ commercial banks.

Mali’s junta took power in 2020 and cancelled elections that were due to be held in February.

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