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West African court suspends sanctions against Mali

Recall that, the West African Monetary and Economic Union (UEMOA) joined regional body ECOWAS to issue tough sanctions against Mali to force the military leadership to succumb to demands to organize an election.

As part of the measures, the UEMOA directed all financial institutions under its umbrella to suspend Mali.

The effect of such tough decision was two ways. Whilst Mali felt the economic impact of the sanction, the country equally defaulted in the payment of debts amounting to $180 million due to the inability to engage in meaningful financial transactions.

In a latest development contrary to the initial sanctions, the court of the UEMOA in a ruling ordered the suspension of the earlier sanctions.

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Spokeswoman, Aminata Mbodj said “the decision was rendered this morning. It is a suspension measure pending a detailed ruling of the court.”

ECOWAS is set to organized another meeting in Accra Ghana to help address issues surrounding the coups in the West African region, especially  Guinea, Mali and Burkina Faso.

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