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Niger’s Ultimatum

A planned $51m bond issuance by Niger scheduled for Monday in the West African regional debt market has been cancelled by the Central Bank of West African States (BCEAO) following a coup. At an emergency summit in Nigeria, the 15-nation Economic Community of West African States (ECOWAS) regional bloc demanded on Sunday that Niger’s President Mohamed Bazoum, who was ousted from power last week, be reinstated within a week. The bloc imposed sanctions on Niger including the halt of all financial transactions and a national assets freeze to try to force the coup plotters to restore constitutional order.