The International Monetary Fund approved yesterday, January 9, the disbursement of $27.67 million for Mali. This disbursement follows the first review of the Extended Credit Facility signed with the country in late August 2019.

The resources will support Malian authorities’ continued commitment to implement policies and reforms to achieve the program’s objectives. According to Tao Zhang (pictured), IMF’s Deputy MD and Acting Chair, “Mali has made important progress in implementing the Fund-supported program despite daunting security challenges.”

In the very short term, the country aims to safeguard social and development spending in the face of growing pressures from security spending; strengthen revenue mobilization; improve public finance management and governance; accelerate anti-fraud strategy and the financial recovery of the national electricity company.
Let’s note that the new financing brings to $455.26 million the amount granted to the country under the ECF arrangement.

Fiacre E. Kakpo