Agence UMOA-Titres announced on August 25, 2020 to investors of the West African Monetary Union (UMOA), that the “State of Mali” has decided to postpone to a later date, the simultaneous issuance of similar bonds du Trésor (OAT), with a maturity of three and five years and an amount of 30 billion FCFA (45 million euros), initially scheduled for this Wednesday, August 26, 2020. This announcement was signed by the Director of the Agency based in Dakar.

What is disturbing in this announcement is the expression “the State of Mali”. Does it refer to the confiscated power of President Ibrahima Boubacar Keita or to the unrecognized power of the junta? It is an open secret that since August 18, 2020, the date of the military coup in Mali, there is no longer a state in this country, nor a transitional government, the negotiations between the military junta and the envoys from ECOWAS having given nothing yet. Note that the BCEAO announced yesterday that it has reopened its counters in Mali and made the clearing system available again for banks.

The Malian Treasury frequently resorts to issuing bonds and treasury bills, especially with the Covid-19 pandemic and the financial difficulties of the Malian State. For the month of August 2020, intentions to issue public securities in Mali amount to 60 billion FCFA. The Malian public treasury has already raised 33 billion FCFA on August 12. To this was added 55 billion FCFA of Social Covid-19 vouchers raised on August 4. This means the financial difficulties that loom on the horizon in the days or weeks to come in Mali, unless a happy solution is found.