West Africa Bloc Announces Formal Exit of Three Junta-Led States 

A man waving the flag of Burkina Faso stands on top of a car during a gathering to celebrate the withdrawal of Mali, Niger and Burkina Faso from the Economic Community of West African States (ECOWAS) in Kurukanfuga on January 28, 2025. (AFP)
A man waving the flag of Burkina Faso stands on top of a car during a gathering to celebrate the withdrawal of Mali, Niger and Burkina Faso from the Economic Community of West African States (ECOWAS) in Kurukanfuga on January 28, 2025. (AFP)
TT

West Africa Bloc Announces Formal Exit of Three Junta-Led States 

A man waving the flag of Burkina Faso stands on top of a car during a gathering to celebrate the withdrawal of Mali, Niger and Burkina Faso from the Economic Community of West African States (ECOWAS) in Kurukanfuga on January 28, 2025. (AFP)
A man waving the flag of Burkina Faso stands on top of a car during a gathering to celebrate the withdrawal of Mali, Niger and Burkina Faso from the Economic Community of West African States (ECOWAS) in Kurukanfuga on January 28, 2025. (AFP)

The Economic Community of West Africa States (ECOWAS) on Wednesday announced the formal exit of junta-led Mali, Burkina Faso and Niger from the bloc following their withdrawal last year.

West Africa has been rocked by a spate of coups that has countries in the 15-member body under military rule in the past five years.

"The withdrawal of Burkina Faso, the Republic of Mali and Republic of Niger has become effective today, 29th January 2025," ECOWAS said in a statement.

The three states announced their withdrawal from the bloc last January after ECOWAS demanded a restoration of democratic rule in Niger following a military coup in 2023.

Instead, the three breakaway states formed Alliance of Sahel States, an alternate bloc and launched their own biometric passports.

ECOWAS said on Wednesday the remaining members tentatively agreed to "keep ECOWAS doors open" by recognizing national passports and identity bearing the bloc's logo from the countries, to continue trade under existing regional agreement, and to continue diplomatic cooperation with the countries.

In December, ECOWAS gave Mali, Burkina Faso and Niger a six-month grace period to rethink their exit.

"These arrangements will be in place until the full determination of the modalities of our future engagement with the three countries of by the ECOWAS Authority of Heads of State and Government," ECOWAS said.



South Korea's Acting President Orders Close Monitoring of US Policies

A handout photo made available by the South Korean finance ministry shows South Korean acting President Choi Sang-mok, who serves concurrently as deputy prime minister for economic affairs and finance minister, speaks during a meeting on macroeconomic and financial affairs at the government complex in Seoul, South Korea, on 24 January 2025. EPA/South Korean finance ministry
A handout photo made available by the South Korean finance ministry shows South Korean acting President Choi Sang-mok, who serves concurrently as deputy prime minister for economic affairs and finance minister, speaks during a meeting on macroeconomic and financial affairs at the government complex in Seoul, South Korea, on 24 January 2025. EPA/South Korean finance ministry
TT

South Korea's Acting President Orders Close Monitoring of US Policies

A handout photo made available by the South Korean finance ministry shows South Korean acting President Choi Sang-mok, who serves concurrently as deputy prime minister for economic affairs and finance minister, speaks during a meeting on macroeconomic and financial affairs at the government complex in Seoul, South Korea, on 24 January 2025. EPA/South Korean finance ministry
A handout photo made available by the South Korean finance ministry shows South Korean acting President Choi Sang-mok, who serves concurrently as deputy prime minister for economic affairs and finance minister, speaks during a meeting on macroeconomic and financial affairs at the government complex in Seoul, South Korea, on 24 January 2025. EPA/South Korean finance ministry

South Korea's acting President Choi Sang-mok ordered that policies of the new US administration and their market impact be closely monitored, the South Korean government said in a statement on Thursday.

Choi, the Bank of Korea governor, and financial regulators also noted the increased volatility in technology stocks in major markets created by China's DeepSeek, and said it was necessary to keep tabs on financial and currency markets after South Korean holidays end on Thursday.