ANALYSIS OF THE CONSEQUENCES OF THE 2022 ECOWAS ECONOMIC SANCTIONS: A Review of Mali’s Public Debt and Macroeconomic Stability

ANALYSE DES CONSEQUENCES DES SANCTIONS ÉCONOMIQUES DE LA CEDEAO EN 2022: Examens de l'endettement et de la stabilité macroéconomique du Mali

Etienne Fakaba Sissoko () and Khalid Dembele
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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 Dembele: USSGB - Université des sciences sociales et de gestion de Bamako

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Abstract: This article assesses 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. Our findings show a significant increase in public debt, rising from 35.9% of GDP in 2016 to 52.0% in 2021, driven in large part by domestic borrowing. The sanctions prevented Mali from meeting the convergence criteria of both WAEMU and ECOWAS, highlighting the need to reassess regional crisis management strategies. We offer policy recommendations to strengthen Mali's economic resilience and reduce the adverse effects of future sanctions. This study underscores the importance of rethinking the effectiveness of sanctions as a tool of foreign policy and stresses the urgency of promoting investment to improve macroeconomic stability. The findings provide critical insights for policymakers and economic stakeholders in the West African region.

Keywords: Résilience Économique du Mali.; Critères de Convergence UEMOA; Stabilité Macroéconomique; Endettement du Mali; Sanctions Économiques de la CEDEAO (search for similar items in EconPapers)
Date: 2023
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Published in Revue Française d'Economie et de Gestion , 2023, 4 (12), pp.165 - 182. ⟨10.5281/zenodo.10428243⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05198905

DOI: 10.5281/zenodo.10428243

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