The border closure measures taken by the National Committee for the Salvation of the People (CNSP) on August 19, 2020 and those of ECOWAS suspending economic exchanges with Mali have immediate effects on our economy. But the commitment of the CNSP to offer the bases for a new start could make it possible to curb the economic and social consequences of this situation.

On a purely financial level, closure of the three BCEAO agencies. In terms of issuing money or transferring funds between banks or economic operators in Mali and those outside, operations may experience delays, as for those who must receive payments, explains Mr. Kassoum Coulibaly , economist.

The other risk is constituted by the constraints for households to meet their consumption needs. This has a direct impact on the turnover of companies. For Mali, a country that imports essential foodstuffs par excellence, the closure of borders could mean a supply shortage and the depletion of available stocks.

Speculation and its impact on petroleum products and the cost of energy could have collateral effects or accentuate social tensions.

Positive change?

The measures advocated by ECOWAS can have a negative impact on our economy, but not to the point of asphyxiating it, assures Dr. Sékou Diakité, teacher-researcher at the FSEG. Because the country also trades with two neighboring countries that are not members of the organization. But, in order not to harm the good health of the economy, "the authorities must put in place a government team which first of all reassures the people and reopens the borders", he adds.

We must also consider rationing measures and secure provisions while waiting to find facilitation measures, suggests Mr. Coulibaly. The withdrawal of the international community and potential investors are short-term consequences, but they could have a positive reverse if the CNSP gave pledges of confidence by transmitting power to civilians in a transparent manner. A situation that could lead to a point in the fight against corruption in a country that loses about 100 billion FCFA per year because of it.

To reverse these effects, Mali's partners must understand that they are there for the people and that the targeted improvement in governance must be accompanied, explains Dr. Abdoulaye Touré, economist. The people must be helped in order to reduce their suffering.