France is attempting to ruin Mali’s economy – Assimi Goïta alleges

A report seen in the Russian newspaper, Sputnik, highlighted the suspicion of Mali’s junta leader of French interference in Mali’s economy, during his speech in the Malian city of Sikasso on June 22.

The president revealed that the French are looking to disrupt the Malian economy by infusing fake currencies into its financial system. He noted that he recognized the tactic which he claimed was used against Guinea in 1960.

According to the Malian president, the scheme is part of “three types of terrorism” facing Mali, including armed terrorism; media terrorism (lies and fake news “to turn us against each other”); and economic terrorism.

The Malian president cited Bamako’s reliance on Guinea for commerce after ECOWAS sanctions in 2022. Malians in this nation faced three times greater port costs.

To this effect, Assimi Goïta proposed that the CFA Franc, described as a colonial currency, be disregarded and replaced with a local one.

Earlier this month, on the margins of the Saint Petersburg International Economic Forum 2024 (SPIEF), Ahmat Tahir Bakhit, the head of the Russian House in Chad remarked that CFA Franc “imposed by another power,” stifles Africa’s prosperity.