Niger Defaults on $3.8 Million Debt After Coup

The debt agency of the West African Economic and Monetary Union, UMO-Titres, announced today, Tuesday, that Niger has defaulted on 2.341 billion CFA francs (3.76 million dollars) related to treasury bonds that were due on July 31. The agency noted that the payments were not made in the context of the sanctions imposed by the union on Niger following the military takeover of power there at the end of last month, stating, "This situation is being closely monitored."