Claim: Social media posts claim that Mali has paid up all its domestic and foreign debts and is the first African country to be debt-free.
Verdict: False. While Mali’s Economy Minister announced payment of CFAF 200 billion ($332 million) of its internal debt, it only represents a fraction of its entire debt stock. Additionally, evidence from the IMF suggests that Mali’s external and domestic debt stocks stood at CFAF 3.3 billion ($5.7 million) and CFAF 3.8 billion ($6.5 million), respectively, as of the end of 2024.
Full Text
Several social media posts, such as here, here, here, and here, claim that Mali has paid up all its domestic and foreign debts and has become the first African country to be debt-free. The posts further claim that Mali has paid 300 million dollars in debts.
Photo credit: X
One of the posts with an attached picture of Mali’s military leader, Gen. Assimi Goita, reads: “Mali shocked the World for becoming the 1st African debt-free nation, paying off over 300 million dollars in debt.” The post on X had 469.6k views, 5.1k reposts, and 736 replies at the time of filing this report.
Several comments under the posts here, here, and here indicate that many people believe the claim, as shown in the screenshots below.
In May 2021, then-interim Vice President of Mali, Gen. Assimi Goïta, staged a military coup that toppled Mali’s civilian President, Bah Ndaw, and Prime Minister, Moctar Ouane. It was the second coup he had led, following the 2020 military takeover.
In May 2025, the military junta dissolved all political parties in the country amid a growing crackdown on dissent since the military takeover.
On July 3, 2025, Mali’s transitional parliament granted General Goïta a five-year presidential term that is renewable without the need for elections. This means the 41-year-old military leader will stay in power until at least 2030.
With the growing disinformation geared towards propping up military dictatorship at the expense of democracy, DUBAWA decided to investigate the claim.
Verification
DUBAWA conducted an extensive internet search to verify the claim and determine if the BBC, The Guardian, Maliweb.net, or any other credible local or international media outlet had reported on the issue, but none were found.
Further, DUBAWA searched for information related to Mali’s debt and the International Monetary Fund (IMF) using the keywords “Mali debt and the IMF” and “present value of Mali’s external debt.” The search results reveal that as recently as April 2025, the IMF Executive Board approved the disbursement of $129 million under its Rapid Credit Facility (RCF) for Mali.
In a press release dated April 16, 2025, the IMF stated that the RCF will help address the urgent balance-of-payments needs resulting from the 2024 floods, which destroyed 85,000 hectares of cropland, 730,000 metric tons of cereal stocks, and affected 350,000 people.
“The RCF disbursement is expected to help the authorities address the urgent balance of payment needs resulting from the floods. These include financing imports for essential items and critical infrastructure,” the IMF statement noted.
According to the IMF, the RCF was accompanied by an 11-month Staff Monitored Program (SMP) to reinforce macroeconomic stability, strengthen resilience, protect the vulnerable, and improve governance.
In an earlier press release on Mali’s debt sustainability analysis, the IMF disclosed that Mali’s public debt stood at 51.8% of GDP as of the end of 2024. External debt totaled CFAF 3.3 billion ($5.7 million), accounting for 24.2 percent of GDP.
Mali’s main external creditors included the IMF, World Bank, African Development Fund, West African Development Bank, Islamic Development Bank, and the governments of France (French Development Agency), China, India, and Abu Dhabi (Abu Dhabi Development Fund).
According to the IMF, domestic debt, predominantly held by banks in Mali and the rest of the West African Economic and Monetary Union (WAEMU), stood at CFAF 3.8 billion ($6.5 million), representing 27.6 per cent at the end of 2024.
Therefore, Mali’s total debt stock will be about CFAF 7 billion at the end of 2024.
Below is a screenshot of Mali’s debt stock from 2019 – 2024 published in the IMF release and sourced from Malian authorities, Cbonds, and staff calculations.
In October 2024, Mali’s Economy Minister, Alousseni Sanou, announced that the junta-led West African country would pay CFAF 200 billion ($332 million) of its internal debt by the end of 2024 to ease its debt burden. However, this does not represent Mali’s entire debt stock.
Conclusion
Based on the above, it is clear that Mali has not paid up all its debt. Though Mali’s Economy Minister announced payment of CFAF 200 billion ($332 million) of its debt, it only represents a fraction of its entire debt stock. The IMF has also indicated that Mali’s external and domestic debt stood at CFAF 3.3 billion ($5.7 million) and CFAF 3.8 billion ($6.5 million) respectively as at the end of 2024. The claim is, therefore, false.