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Mali Announces $335 Million Injection to Ease Debt Burden

18:55, 20 October 2024

Ekaterina Shilova

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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.

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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.

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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.