Closed following the mutiny that led to the fall of President IBK, the BCEAO branches reopened on Monday in Mali. This should help mitigate a potential liquidity crisis and pay August salaries.

The Central Bank of West African States (BCEAO) reopened its branches in Mali on Monday for the first time since the fall of former president Ibrahim Boubacar Keïta (IBK), the secretary-general of the National Union of Banks told Reuters. insurance and financial institutions (Synabef), Hamadoun Bah.

"The BCEAO opened its branches this morning [...] closed due to security concerns. There was a liquidity risk since our funds are deposited with the BCEAO," said Hamadoun Bah.

The closure of the Bank's branches in Mali came in the wake of ECOWAS sanctions against the country after the mutiny that led to the resignation of President IBK. The organization has indeed decided to close all land and air borders as well as to stop all economic, financial and commercial flows and transactions.

The reopening of the Central Bank's branches will mitigate a potential liquidity crisis and pay August salaries in Mali.

The BCEAO has a total of three branches in the country. In addition to the main agency in Bamako, two auxiliary agencies are located in Mopti and Sikasso.