The World Bank pauses their payments to Mali Government after the Military Coup

Last updated on September 11th, 2021 at 07:58 am

Talking about uncertain political and economical force, Mali in Africa tops the list.

This year in May, the Malian Army led by Vice President Assimi Goita captured President Bah N’daw, Prime Minister Moctar Ouane and Minister of Defence Souleymane Doucoure. The operation was headed by Assimi Goita, the head of the junta that led the 2020 Malian coup d’état. Last week in May he announced that N’daw and Ouane were stripped of their powers and that new elections would be held in 2022.

It is not the first time that country has come to a standstill rather it has happened before twice in 2012 and 2020. The country has been experiencing instability and conflict by armed groups. This led World Bank to call off their payment and build pressure on Mali’s military. Their chief security ally France also announced they were suspending joint operations with Malian troops to press for a return to civilian rule. This unlawful coup has drawn international condemnation and raised fears among people.

The political thought leaders also feel week to fight Islamist militants this way. This action taken by World Bank will impact activities in Mali since they financing projects worth $1.5 billion in Mali. In their statement, the Bank mentioned they have temporarily paused disbursements on its operations in Mali, as it closely monitors and assesses the situation.

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Looking at this grave and sensitive situation, The African Union and a West African regional bloc suspended Mali’s membership but did not impose further sanctions. 

Leading both the coups, Goita was declared president last week and the previous President and prime minister were forced to resign in military custody. Goita will be naming the leader of M5-RFP opposition coalition Choguel Maiga as the next Prime Minister. Maiga has the reputation of spearheading protests against former President Ibrahim Boubacar Keita before his overthrow in August 2020.