The Republic of Niger has missed payments on interest and capital amounting to 187.136 billion ($304 million) CFA francs since the July coup and the aftereffects of its suspension from regional financial markets, according to a data the West African regional debt management agency revealed on Tuesday, November 14.
The West African monetary union debt management agency UMOA Titres had in a statement on Tuesday revealed that the country had defaulted on paying another interest of about 2.464 billion CFA francs ($4 million) on its debt.
The agency had said:
“This payment incident arises in a context where the State of Niger is subject to penalties (sanctions) taken against it by the congress of heads of state and government of the West African Economic and Monetary Union.”
Recall that Niger was suspended from the regional financial market, and the regional central bank by the Economic Community of West African States, ECOWAS, and the West African monetary union after a military coup in July drove out President Mohamed Bazoum.
ECOWAS was then forced to impose strict economic and financial sanctions on the junta, including cutting off its access to the state’s accounts with the regional central bank, and threatening to use force to reinstitute constitutional rule.
