Niger junta slashes fuel prices ahead of coup anniversary

Niger has announced a reduction of fuel prices as the country grapples with an economy still recovering from the effects of a political crisis following a military takeover last year.

It comes amid plans to commemorate on Friday the first anniversary of the coup d'etat that ousted President Mohamed Bazoum, who is being held as a prisoner.

The reduction of fuel prices is meant to ease the economic hardships in the wake of the political crisis.

Petrol prices have been reduced from 540 CFA (0.9$) to 499 CFA while diesel will sell at 618 CFA from 668 CFA.

Lifted sanctions

Niger’s economy was severely hit by sanctions imposed by its West African neighbours after the coup - which have since been lifted.

International aid that was suspended has also resumed. The International Monetary Fund last week announced a $71 million disbursement.

"The near- and medium-term economic outlooks have improved owing to the start of oil exports, the lifting of sanctions, and increased agricultural production," IMF deputy managing director Antoinette Sayeh said in a statement.

The IMF noted that the country's economic growth is expected to rebound to 10.6 percent this year.

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