Economic sanctions against Mali: the precedent of Côte d'Ivoire
A policeman tries to put out a fire during a demonstration in Abobo on February 22, 2010 (illustrative image).
During the Ivorian post-electoral crisis, UEMOA took sanctions at the end of December 2010 to put pressure on Laurent Gbagbo's camp.
Reuters / Thierry Gouegnon
Text by: RFI Follow
2 min
Mali was struck, Sunday, January 9, by a battery of economic sanctions.
The situation evokes that of Côte d'Ivoire during the post-electoral crisis of 2010-2011.
Yamoussoukro had also been sanctioned by several international institutions including the European Union, the UN and UEMOA, which was the first to freeze the assets of the Ivorian state.
International community and West African organizations sought to weaken the power of Laurent Gbagbo while they recognized the victory of Alassane Ouattara in the presidential election.
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With our correspondent in Abidjan,
François Hume-Ferkatadji
During the Ivorian post-electoral crisis, UEMOA took sanctions at the end of December 2010 to put pressure on Laurent Gbagbo's camp.
The West African organization blocks access to Ivorian government accounts held by the regional central bank and thus prevents it from honoring the repayment of interest on the debt.
A month later, the country is in default, its rating on the markets plummets, it can no longer borrow.
The European Union had also put an end to its flow of goods to or from Côte d'Ivoire.
"
Difficult
" posture
Did these sanctions weaken the Ivorian economy? "
Yes
", answers an Ivorian economist. "
The Ivorian state was in such a difficult position that it had to go and get help from the BCEAO coffers
." "
Whether in one camp or the other, initially, nobody took seriously the threats of economic sanctions on the country
", explains this source. However, many commercial banks had come down and the holders of bank accounts found themselves in difficulty to finance projects or simply to find
cash
.
“
Even if the belligerents have finally always camped on their positions
, also adds this economist,
many people within the population said at that time that it was necessary to find a form of resolution to the conflict, because of these economic difficulties.
"
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See also: Côte d'Ivoire: after the IMF and the World Bank, UEMOA supports Alassane Ouattara
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Ivory Coast
Laurent Gbagbo
Finance
Mali