Photo : French Army via AP
NIAS Area Studies
AFRICA MONITOR
Photo : French Army via AP
IN BRIEF
By Samruddi Pathak
Mali: Tuareg coalition claims victory in Algerian border
On 28 July, the Tuareg separatist coalition in Mali decisively put the Mali army and Russian mercenaries on the backfoot after three days of intense fighting. Almost 20 Wagner group fighters lost their lives in the three-day intense fight. The Wagner group has been involved in the conflict since 2021. Colonel Assimi Goita, the military ruler of Mali expelled French forces out of the country in 2022, with the help of Russian mercenary group Wagner. (“Mali rebels claim major victory over army, Russian mercenaries,” Al Jazeera, 29 July 2024)
Ethiopia: Open markets for foreign currency
On 29 July, the Ethiopian Central Bank lifted its restrictions on foreign currency to secure funding from the International Monetary Fund (IMF). However, Birr, Ethiopia’s currency, lost its value from 57.4 to 74.7 against one USD. The Central Bank stated that “banks are henceforth allowed to buy and sell foreign currencies from/to their clients and among themselves at freely negotiated rates” and that it would only make "limited interventions" in the FX markets. (“Ethiopia adopts market-based FX system, birr currency slides,” Reuters, 29 July 2024)