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- Title
Niger: Debt Default.
- Abstract
Niger has defaulted on debt instruments worth approximately $515 million since the country's July coup, according to the West African Economic Monetary Union (UEMOA). Umoa‐titres, which manages UEMOA operations, has issued eight notices to investors since the beginning of 2024, stating that Niger has been unable to meet its financial obligations on the government securities market. This default comes at a time when Niger is subject to sanctions imposed by the Conference of Heads of State and Government of the West African Economic and Monetary Union. Moody's has downgraded Niger's credit risk rating three times since the coup, citing the economic difficulties and hampered government's ability to meet its obligations. The Economic Community of West African States (ECOWAS) has suspended Niger's membership and imposed severe economic sanctions following the coup.
- Subjects
NIGER; DEFAULT (Finance); DEBT; MONETARY unions; PUBLIC finance; INVESTORS; FOREIGN exchange reserves
- Publication
Africa Research Bulletin: Economic, Financial & Technical Series, 2024, Vol 61, Issue 2, p24637B
- ISSN
2053-227X
- Publication type
Article
- DOI
10.1111/j.1467-6346.2024.11538.x