Skip to main content

Women sort out clothing after doing their washing in the Niger River, with the headquarters of Central Bank of West African States (BCEAO) in the background, in Bamako, Mali July 26, 2018.LUC GNAGO/Reuters

The regional branch of West Africa’s BCEAO central bank has reopened in Mali for the first time since a military coup last week, Hamadoun Ba, the president of Mali’s banking lobby, told Reuters on Monday.

The reopening by the branch could ease a potential funding crunch, and payment of August salaries Mali was facing after the regional bloc suspended the country from its institutions and cut financial flows due to the military takeover.

“The BCEAO opened its branches this morning, they said they were closed due to security issues. There was a liquidity risk, since our funds are deposited with BCEAO if it closes, how do we access our funds?” Ba said.

A source at the bank confirmed that the branch was open but declined to provide any further details.

Mediators from the 15-nation Economic Community of West African States (ECOWAS) are expected to meet Mali’s military junta for a third day of negotiations on Monday aimed at returning the country to civilian rule.

The parties reached agreement on certain points during all-day talks on Sunday, but some outstanding issues remained.

Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.

This content appears as provided to The Globe by the originating wire service. It has not been edited by Globe staff.

Report an error