UEMOA lifts Mali’s suspension of its institutions

UEMOA lifts Mali's suspension of its institutions

July 10 (EUROPA PRESS) –

The West African Economic and Monetary Union (UEMOA) –a dependent body of the Economic Community of West African States (ECOWAS)– announced this Sunday that it is lifting Mali’s suspension of its institutions.

“As for Mali, the conference has decided to lift its suspension of UEMOA bodies and institutions adopted on January 9, 2022,” reads a statement from the organization, whose leaders have met this weekend in Guinea-Bissau to examine the political evolution of Mali, Burkina Faso and Guinea (Conacry), three states whose military leaders have promised to follow a democratic road map.

The Heads of State and Government of the member countries of the organization, who have not given more details about the decision regarding Bamako, have celebrated the “resilience of the economies of the area”, despite “the shocks registered at internationally and within the community space”.

Thus, according to the letter, the summit celebrated the “efforts made by the Member States to preserve the purchasing power of the populations”, as well as the “appropriate actions undertaken by the Specialized Institutions with a view to ensuring satisfactory financing of the economies of the UEAMOA”.

ECOWAS leaders supported in January 2022 the measures approved by the UEMOA freezing the assets of the military junta within the area of ​​the Central Bank of West African States (BCEAO) due to the lack of progress in the transition with a view to holding elections to return power to the civil authorities.

The agency also decreed the closure of the borders between Mali and the member states of the organization and imposed a merchandise embargo, which did not affect medical supplies and essential products. It also agreed to withdraw the ambassadors in Mali from its member countries and imposed other sanctions related to financial aid.

In July 2022, ECOWAS lifted these types of sanctions – borders, asset freezes and retired ambassadors – but maintained the financial sanctions and Mali continued to be suspended from ECOWAS authorities, understanding that these measures are aimed at the board leaders.

Assimi Goita led a coup in August 2020 that overthrew the then president, Ibrahim Boubacar Keita. The military junta appointed a transitional president and prime minister, though both were toppled in a second coup in May 2021 that ultimately elevated the coup leader to transitional president.

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