How to strengthen African financial systems without resorting to the debts of international institutions? The Club of young researchers in insurance, banking and finance (CJC ABF) is trying to answer this question by organizing its very first conference-debate on the theme of the debt of international financial institutions.

Placed under the theme "How to strengthen the financial systems of African States without resorting to the debts of international financial institutions?" “, the conference-debate sponsored by Moussa Bagayoko, councilor at the town hall of commune IV of the district of Bamako, was held this Saturday, April 10, 2021 at the University Institute of Management (IUG) of Bamako.
In his presentation, Dr M'Baye Cheick Kader, teacher-researcher at the Faculty of Economics and Management (Fseg) in Bamako, explained the challenges of the debts of international financial institutions such as the IMF, the World Bank, the European Bank for reconstruction and development, the African Development Bank etc.
For him, these debts can constitute a brake on the development of the heavily indebted poor countries (HIPC) of which Mali is a part. Because, he will say, “80% of Mali’s debts come from these institutions. Debt is not free because debt service has to be paid sooner or later. So, as a result, each time the State goes into debt, it creates a deficit”.
Regarding the strengthening of financial systems for the development of the private sector, the doctor proposes the development of microfinance.