Mali to receive $11.7 million from IMF following suspension

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A youth from Kida, Mali welcomes foreigners with a victory sign and chanting “Azawad, Mali no!” UN Photo/Blagoje Grujic

Mali has been approved by the International Monetary Fund (IMF) to immediately receive $11.7 million dollars in aid, following a suspension last May.

An executive board of the IMF recently reviewed the West African country's performance under an economic programme supported by a three-year extended credit arrangement.

The board's decision brings the total disbursement to about $20.5 million.

The Deputy Managing Director of the IMF, Mr. Naoyuki Shinohara, said "serious lapses" in public financial management caused delays in the first review of the Fund-supported programme.

Last May, the IMF decided to delay the disbursement of $6 million in aid to Mali after the government reportedly purchased a $40 million presidential jet.

Mr. Shinohara said it is essential to tighten budget and procurement rules in Mali in order to restore business, consumer, and donor confidence.

Stephanie Coutrix, United Nations.

Duration:  1’00″

 

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