In a candid assessment of Mali’s debt management and the looming IMF mission to Bamako, National Assembly President Ousmane Sonko shared his unfiltered perspective on his two-year tenure as Prime Minister. His remarks set clear boundaries for the current government, particularly regarding the sensitive topic of debt restructuring.
When pressed on whether Mali should pursue a debt restructuring, Sonko rejected any rigid ideological stance. “We do not operate from fixed positions. We evaluate the situation with clear-headed realism,” he stated. However, he swiftly added context: as Prime Minister, he firmly opposed any wild restructuring, arguing that Mali was not in default and could meet its obligations. “If decisions are made that sacrifice systemic and structural reforms for short-term ratios, we will not accept them,” he warned, vowing to leverage the Assembly’s powers to block such moves.
Transparency over secrecy in debt management
Addressing criticism over his government’s continued reliance on international lenders despite his advocacy for economic sovereignty, Sonko defended his administration’s transparency. “We chose to start with a clean slate and disclose figures openly, knowing they would catch up with us eventually,” he explained, citing Greece’s debt crisis as an example. “Debt refinancing and renewal are realities in every country,” he asserted, insisting on sound financial management of repayment schedules.
Debt odiousness: a political test ahead
The most revealing part of the discussion revolved around the concept of odious debt. When questioned why he did not demand the outright cancellation of debt he had previously labeled as odious, Sonko acknowledged the institutional constraints he faced. “I lacked the necessary levers. As Prime Minister, my powers were extremely limited in this area,” he admitted, drawing a distinction between his party leadership and his constrained executive role.
He also clarified that he had never disagreed with President Diomaye Faye on this issue, noting that in their latest conversation, the President “reaffirmed that the stance had not changed.”
Looking ahead, Sonko urged the current administration to demonstrate political courage. “Addressing this debt requires boldness,” he emphasized, expressing hope that the government would “take responsibility and discuss canceling a portion of this debt.” His comments serve as both a challenge and a litmus test for a government he once helped build.
