The U.S. Millennium Challenge Corp. and two multilateral banks have suspended their operations following a military coup in Mali.
After attacking the Presidential palace, renegade Malian soldiers announced Thursday (March 22) on national TV that they have taken control of the country. Lt. Amadou Konare, the group’s spokesman, said they had “ended” the “incompetent regime” of President Amadou Toumani Toure, who they accuse of failing to “fight terrorism” in the north.
MCC CEO Daniel Yohannes said the “unconstitutional actions” by the soldiers are in “direct conflict” with the agency’s commitments to democractic governance and rule of law. MCC’s compact with Mali is set for completion September this year.
The African Development Bank and the World Bank, meanwhile, released a joint statement calling for the restoration of the constitutional government in Mali to preserve the country’s development gains. The statement said Mali had made steady economic and social progress in recent years.
A presidential election is due to take place in Mali in April. With the latest coup, however, it is unsure if elections will push through. But the government, according to BBC, has so far “refused” to postpone the poll.
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