DAKAR - Mali has defaulted on more than 53.99 billion franc CFA ($93 million) in interest and capital payments since January due to regional sanctions, data from the West Africa monetary union's debt agency Umoa-Titres showed on Wednesday.
The defaults highlight Mali's worsening economic situation due to severe sanctions, which include border closure and financial restrictions, imposed on the country by the regional bloc over elections delayed by the country's military junta.
The data showed Mali missed payments on interest on treasury bonds on four occasions since the end of January. It also missed a Feb. 10 deadline to pay the capital on a treasury bond, a note from the debt agency to investors said.
"It should be noted that this payment incident occurs in a context where the state of Mali is subject to sanctions against it by heads of state of the Economic Community of West African State," the debt agency said.
($1 = 579.1400 CFA francs)
(Reporting by Bate Felix; Editing by Toby Chopra and Barbara Lewis) ((firstname.lastname@example.org; +33 1 49 49 55 70 Twitter: @BateFelix;))