Burkina Faso Just Paid $4.79 Billion Of Its National Debt Without Western Aid

Подробнее о видео

#africanews #ibrahimtraore #burkinafaso
While other African countries are struggling to pay their debt and even borrowing more from the West, the member countries of AES are paying off their debts. This is astonishing given the fact that these countries are usually regarded by the rest of the world as the poorest countries in Africa. Not to mention the fact that as a result of their military government, these countries have been isolated by the West. And, they are also battling with insecurity on every front. Recently, for example, Burkina Faso revealed that it has paid about 3000 billion CFA Franc which is approximately 4.79 billion dollars of its national domestic debt. Mali also recently paid 332 million of its internal debt. The question is “How are they doing this? Why can't other African countries do the same? Let's find out.

The AES member countries have recently proven that they can survive without Western Aid. You see, after the coup occurred in all these countries, there were concerns raised by some Western institutions that Mali, Niger, and Burkina Faso will not be able to survive economically and financially. This is because, before the coups, these countries mostly depended on financial aid from Western countries and institutions to run their countries. In fact, according to reports, financial aid constituted more than 50 percent of the national budget. This meant that all the government expenses and projects depended on financial aid from the West.

However, after the coup occurred, the West suspended all the aid. The US for instance suspended the annual 500 million dollars it usually gave to Niger. The European Union suspended all financial commitments to Niger, Burkina Faso and Mali. And, they did this to pressure the military leaders to step down. The general idea was that without the aid, the military government would struggle to run the country economically and therefore they would be forced to step down. But, shockingly, these countries have been surviving. Not only have they engaged in several development projects, these countries also have more than enough to pay their debts. This is remarkable.