Home Current News Mali risks ‘economic paralysis’ from post-coup embargo: trade group

Mali risks ‘economic paralysis’ from post-coup embargo: trade group

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Mali risks 'economic paralysis' from post-coup embargo: trade groupMali faces “economic paralysis” if sanctions imposed by West Africa’s regional bloc after a military coup are not lifted in coming days, the head of the customs agency lobby said on Wednesday. Imports of goods into the landlocked, arid country have dropped 30% since the 15-nation Economic Community of West African States (ECOWAS) closed its borders with Mali and halted financial flows after the Aug. 18 takeover, said Ousmane Babalaye Daou, president of the Malian Council of Shippers. Mali imports 5 million tonnes of goods every year, from woven cotton to cement, some of which arrive at ports across West Africa and are trucked hundred of miles inland.

Source: yahoo.com/news