According to sources in the financial market, the planned 30 billion CFA francs ($51 million) bond issuance by Niger, which was initially scheduled for Monday in the West African regional debt market, has been canceled by the regional central bank. This decision came in response to the imposition of sanctions due to a coup in the region.
West African leaders took decisive on Sunday, action by imposing sanctions on Niger, which involved putting a halt to all financial transactions and freezing national assets. These measures were implemented in an effort to exert pressure on the junta that recently seized power in the Sahel nation, with the ultimate goal of urging them to restore constitutional order in the country.
Niger, being one of the world’s poorest countries and heavily reliant on external aid and financing, had planned to issue two additional bonds in the regional market. As per the issuance calendar of the regional debt management agency, these bonds were scheduled for August 7th and August 17th. However, given the recent sanctions imposed by West African leaders following the coup, the issuance of these bonds may be subject to reassessment and potential changes in the financial landscape.