Fitch affirms Mali

Fitch Ratings said it affirmed the Republic of Mali's ratings at foreign currency issuer default B- and short-term B.

The local currency issuer default rating is also affirmed at B- with stable outlook, Fitch added.

The ratings reflect Mali's weak economic potential and lack of diversification, notwithstanding efforts to improve governance, management of public finances and to introduce structural reforms, the agency said.

The ratings also derive support from Mali's membership of the West African Economic and Monetary Union, under which Mali's monetary policy is placed under the authority of the regional central bank, the agency added.

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