Niger defaulted on another debt payment last week, bringing its total debt since the July coup to $519 million. This comes amid ongoing sanctions imposed by regional organizations due to the coup. Niger missed a $22 million payment due on February 16th, adding to previous defaults in August, November, January, and February. This situation is being monitored by the West African debt management agency, UMOA-Titres. The sanctions were imposed following the July coup that ousted President Bazoum. These sanctions, including border closures and frozen assets, have significantly impacted Niger’s economy, which already relied heavily on foreign aid. Despite the economic hardship, the coup leaders have consolidated their power. Niger, along with neighboring Mali and Burkina Faso, recently left ECOWAS and formed a new alliance, raising concerns about further regional instability.
