NIGER CUTS ITS PLANNED SPENDING FOR 2023 BY 40%

Niger has reduced its planned spending for 2023 by 40% due to global sanctions imposed after the military took power in a July coup. The country is one of the poorest in the world and heavily depends on foreign resources to assist its populace of 25 million. The sanctions have caused a massive decline in both external and internal revenues, in step with the military regime that came to power in Niger through the coup. The revised budget ranges from 1,981 billion CFA francs (3 billion euros) as compared to 3,291 billion. The junta-appointed top minister, Ali Mahaman Lamine Zeine, has warned that an austerity price range might be carried out, with a concern on ensuring finances for safety and paying civil servant salaries.

The coup in Niger has caused condemnation from the nearby bloc ECOWAS, the European Union, and America, who imposed sanctions, froze assets, or halted useful resources. A trade blockade has pushed up the price of food and created a shortage of critical goods, together with existence-saving drug treatments. The sanctions are preventing crucial humanitarian help from reaching the country, even as 4.3 million people are in need of resources. The state of affairs has become more unsure for over three million Nigeriens who were already grappling with hunger and insecurity prior to the coup. Children facing malnutrition are particularly at risk too.

The crisis in Niger has impacted the country's political landscape and brought about instability and uncertainty for its citizens. . The clock is ticking, and the lives of Nigerian children are striking inside the balance, warned Paolo Cernuschi, IRC Niger Country Director. The IRC, collectively with local and worldwide partners, is asking for a quick motion to put in force humanitarian exemptions to save lives.

The international sanctions that have been imposed on Niger since the military took power in a July coup are as follows:

The Economic Community of West African States (ECOWAS) and the West African Monetary and Economic Union have suspended all commercial transactions with Niger.

ECOWAS has frozen Niger's state assets in the regional central bank.

ECOWAS has suspended all financial assistance with the regional development bank.

Ivory Coast has also suspended any imports from Niger.

The financial sanctions could lead to a default on Niger's debt repayments.

The situation has become more uncertain for over 3 million Nigeriens who had already been suffering before the coup. The sanctions have caused robust inflation of meal products and even a shortage of medical treatments. The disaster in Niger has impacted the country's political panorama and caused instability and uncertainty for its people.