Mali has unveiled an ambitious plan to raise 100 billion CFA francs through the regional financial market by August 8, as part of efforts to fund key infrastructure projects outlined in its 2025 national budget.
The public bond offering, launched on July 28 via the West African Economic and Monetary Union (WAEMU) market, is structured in two tranches: one of 70 billion CFA francs over seven years at an interest rate of 6.55%, and another of 30 billion over five years at 6.35%. The operation is being conducted under the guidance of Mali’s Société de Gestion et d’Intermédiation, in line with WAEMU financial regulations.
This latest fundraising effort follows a previous issuance in July, where the government secured 38.5 billion CFA francs. However, the increasing reliance on debt has triggered warnings from economic observers and political figures.
Former Prime Minister Moussa Mara voiced strong concerns about what he described as a looming “debt spiral.” He warned that approximately 29 billion CFA francs—representing nearly 75% of the July issuance—will be due for repayment next year, significantly straining the state’s budget. “Public debt now exceeds what is spent on civil servant salaries,” Mara said.
Mali’s total public debt currently stands at over 6.8 trillion CFA francs, with domestic obligations making up more than half. The latest bond offer, which comes with a longer maturity compared to traditional Treasury bills, reflects a push for more stable and sustainable financing sources.
Yet, the backdrop remains challenging. Regional sanctions, persistent diplomatic tensions, and dwindling external financial support have all put pressure on Mali’s fiscal resilience. As a result, investors are paying close attention to the outcome of this bond issue, which could serve as a critical indicator of Mali’s financial credibility in the West African region.
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