Fact Check: Has Mali Become the First Debt-Free African Country?

Claim: Mali has become the first African country to be debt-free

VERDICT: FALSE

Context: A viral claim circulating across social media, particularly on WhatsApp, alleges that Mali has become the first debt-free African country. The message states that the Finance Minister of Mali announced this development after the military government allegedly sold off assets belonging to corrupt elites, jailed officials and cleared all national debts.

Given the significance of such a claim, Sierra Check investigated its authenticity by reviewing credible sources and official statements.

The Evidence: What We Found

1. No Official Statement from Mali’s Finance Minister- The claim credits Mali’s Finance Minister, Alousseni Sanou, with the announcement. However, no official government records or credible media reports confirm that Sanou made such a statement. In fact, in October 2024, Sanou stated on state television that Mali planned to repay 200 billion CFA francs ($332 million) of its internal debt by the end of the year to ease financial pressure—a direct contradiction to the claim.

2. IMF and Financial Data Show Mali Still Owes Debt- According to FDI Intelligence, citing International Monetary Fund (IMF) data, Mali owed the IMF $479.3 million as of 2024. This alone disproves the claim that the country has fully cleared its debts.

3. No African Country is Officially Debt-Free- Debt remains a financial reality for all African nations. While some countries work to reduce or restructure their debt, complete elimination is rare without substantial financial intervention or debt relief programs. As of 2024, no African country has officially declared itself debt-free.

Conclusion- The assertion that Mali is the first debt-free African country is false. While the Malian government has committed to repaying portions of its internal debt, the country still holds significant obligations to international creditors, including the IMF.

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