There are reports of gunfire inside an army base near the Malian capital Bamako. Angry soldiers have been shooting in the air and roads have been blocked.
The Norwegian embassy says it has received information that troops are on their way to the capital and the French embassy has advised people to stay at home.
Earlier there were reports that armed men had abducted the finance minister from his home.
It comes as President Ibrahim Boubakar Keita is under growing pressure to step down in the face of large opposition protests.
There is growing anger in the country due to the worsening security situation, with jihadist and communal violence on the increase.
People are also complaining about the level of corruption and the mismanagement of the economy.