https://en.sputniknews.africa/20241020/mali-announces-335-million-injection-to-ease-debt-burden-1068783247.html

Mali Announces $335 Million Injection to Ease Debt Burden

Sputnik Africa

Internal debt, also known as domestic debt, represents the portion of a country's total government debt owed to lenders within its own borders. It is the... 20.10.2024, Sputnik Africa

2024-10-20T18:55+0200

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The Malian government announced a 200 billion FCFA ($335 million) stimulus package aimed at easing financial pressure on local businesses.This move, announced by Minister of Economy and Finance Alhousseïni Sanou, comes as Mali faces a December 31 deadline to settle its internal debt, which currently stands at approximately 3,813 billion FCFA (roughly $6.4 billion), accounting for 56.6% of the total public debt.Mossadeck Bally, president of the National Council of Employers of Mali, believes this measure will help the sector regain financial stability amid current challenges.

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Mali Announces $335 Million Injection to Ease Debt Burden

18:55 20.10.2024

© AP Photo / BEN CURTISA bank teller counts piles of new West African CFA Franc banknotes plus old-style 500 CFA notes, bottom-right, and old-style 10,000 CFA notes, top-left, at a bank in Dakar, Senegal Monday, Sept. 13, 2004. French West Africa is engaged in a massive, eight-country campaign to retire more than 1 billion euros (dollars) in aged, limp currency.

A bank teller counts piles of new West African CFA Franc banknotes plus old-style 500 CFA notes, bottom-right, and old-style 10,000 CFA notes, top-left, at a bank in Dakar, Senegal Monday, Sept. 13, 2004. French West Africa is engaged in a massive, eight-country campaign to retire more than 1 billion euros (dollars) in aged, limp currency. - Sputnik Africa, 1920, 20.10.2024

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Internal debt, also known as domestic debt, represents the portion of a country's total government debt owed to lenders within its own borders. It is the counterpart to external debt, which is owed to foreign lenders. The primary sources of funding for internal debt are typically commercial banks and other domestic financial institutions.

The Malian government announced a 200 billion FCFA ($335 million) stimulus package aimed at easing financial pressure on local businesses.

This move, announced by Minister of Economy and Finance Alhousseïni Sanou, comes as Mali faces a December 31 deadline to settle its internal debt, which currently stands at approximately 3,813 billion FCFA (roughly $6.4 billion), accounting for 56.6% of the total public debt.

Malian Foreign Minister Abdoulaye Diop at a meeting with Russian Foreign Minister Sergei Lavrov at the Reception House of the Russian Foreign Ministry in Moscow. - Sputnik Africa, 1920, 04.10.2024

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Mossadeck Bally, president of the National Council of Employers of Mali, believes this measure will help the sector regain financial stability amid current challenges.