Economy

ECOWAS Condemns Malian Coup, Calls Off Trade Relations 

ECOWAS Calls Off Trade Relations With Mali Following Military Coup

The Economic Community of West African States (ECOWAS) on Wednesday announced it has called off all trade relations with Mali after the resignation of President Ibrahim Boubacar Keita following a military coup.

On Tuesday, President Ibrahim Boubacar Keita was arrested alongside Prime Minister Boubou Cisse and taken to the Kati military camp about 15 kilometers northwest of the capital Bamako at around 4.30 p.m local time, stated Le Journal du Mali.

On Wednesday, Keita announced his resignation and immediately dissolved his entire cabinet.

He said, “If today, certain elements of our armed forces want this to end through their intervention, do I really have a choice?” Mr. Keita stated from a military camp in Kati where he was being detained.

“I wish no blood to be shed to keep me in power,” he said. “I have decided to step down from office.

While the soldiers that arrested and forced President Keita to resign and dissolve his entire cabinet have promised to conduct a fair and transparent election, ECOWAS and other international organisations have condemned the coup and called for sanctions against those behind the coup and their partners.

ECOWAS also said it has shut down all it’s land and air borders with Mali.

In a statement released by the 15-member nation on Wednesday, it said “ECOWAS has noted with great concern the seizure of power by Malian military putschists.”

It added that the coup would negatively impact on the peace and stability efforts in Mali and its region.

The soldiers, who described themselves as ‘the National Committee for the Salvation of the People,’ said they only acted to prevent the country from falling into further chaos and not interested in power.

We are keen on the stability of the country, which will allow us to organise general elections to allow Mali to equip itself with strong institutions within the reasonable time limit,” said the group’s spokesman, Col Ismaël Wagué, the air force deputy chief of staff.

Another statement read on behalf of the National Committee for the Salvation of the People by Wagué on national television, said: “Civil society and political social movements are invited to join us to create together the best conditions for a civil political transition leading to credible general elections for the exercise of democracy through a roadmap that will lay the foundations for a new Mali.

He added: “As of today, all air and land borders are closed until further notice. A curfew is in place from 09:00 to 17:00 until further notice.

Flanked by soldiers, Col Wagué said: “Our country is sinking into chaos, anarchy and insecurity mostly due to the fault of the people who are in charge of its destiny.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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