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Analysis of the consequences of ecowas economic sanctions in 2022: Examination of Indebtedness and Macroeconomic Stability in Mali
[ANALYSE DES CONSEQUENCES DES SANCTIONS ÉCONOMIQUES DE LA CEDEAO EN 2022 : Examens de l'endettement et de la stabilité macroéconomique du Mali]

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  • Etienne Fakaba Sissoko

    (Université des sciences sociales et de gestion de Bamako - USSGB - Université des sciences sociales et de gestion de Bamako, CRAPES MALI - Centre de Recherche et d'Analyses Politiques, Economiques et Sociales du Mali, Faculté des Sciences économiques et de Gestion - USSGB - Université des sciences sociales et de gestion de Bamako)

  • Khalid Dembélé

    (CRAPES MALI - Centre de Recherche et d'Analyses Politiques, Economiques et Sociales du Mali, Université des sciences sociales et de gestion de Bamako - USSGB - Université des sciences sociales et de gestion de Bamako)

Abstract

This article evaluates the impact of the 2022 ECOWAS economic sanctions on Mali's macroeconomic stability and public debt between 2016 and 2023. Using a rigorous analytical methodology and diverse sources, including the 2024 Finance Law, we examine the consequences of these sanctions on the Malian economy. We observe a significant increase in public debt, rising from 35.9% of GDP in 2016 to 52.0% in 2021, exacerbated by a sharp increase in domestic debt. The sanctions prevented Mali from meeting the convergence criteria of the West African Economic and Monetary Union (WAEMU) and ECOWAS, highlighting the need to reassess regional crisis management approaches. We propose recommendations aimed at strengthening Mali's economic resilience and reducing the impact of potential future sanctions. The study emphasizes the need to reconsider the effectiveness of sanctions as a foreign policy instrument and the urgency of stimulating investment to enhance macroeconomic stability. These findings provide important insights for policymakers and economic stakeholders across West Africa.

Suggested Citation

  • Etienne Fakaba Sissoko & Khalid Dembélé, 2023. "Analysis of the consequences of ecowas economic sanctions in 2022: Examination of Indebtedness and Macroeconomic Stability in Mali [ANALYSE DES CONSEQUENCES DES SANCTIONS ÉCONOMIQUES DE LA CEDEAO EN 2022 : Examens de l'endettement et de la stabili," Post-Print hal-05539002, HAL.
    • Handle: RePEc:hal:journl:hal-05539002
    DOI: 10.5281/zenodo.10428244
    Note: View the original document on HAL open archive server: https://hal.science/hal-05539002v1
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