The economic and financial sanctions imposed on 30 July 2023 by the Economic Community of West African States (ECOWAS) pose a risk for creditors who have lent money to the country and who belong to UEMOA

ECOWAS sanctions threaten Niger's creditors, based in UEMOA, with arrears of 113.24 billion FCFA. Indeed, according to the schedule of repayment terms on debt securities managed by the Agence UMOA-Titres, the cumulative amount of repayment arrears at the end of October 2023 was 113.24 billion FCFA (approximately 183 million dollars). Receivables on Niger's securities, excluding local banks, were held mainly by investors based in Côte d'Ivoire (22% at the end of September 2023), Burkina Faso (18%) and Benin (13%) at the end of the second quarter

Also, the interest rates charged by local commercial banks on loans they provide continued to rise in September, reaching 8.7%. This increase is in line with the cost of earning savings, which jumped by one point to 5.8%, which is currently the highest level in UEMOA