July 22, 2024

IMF approves disbursement of $200 million loan money to Mali to respond to COVID-19

The International Monetary Fund (IMF) on Thursday approved the disbursement of $200 million loan money to Mali to respond to COVID-19.

IMF said the money secured under the Rapid Credit Facility would help Mali meet urgent balance-of-payments and fiscal needs stemming from the COVID-19

Mr. Mitsuhiro Furusawa, Deputy
Managing Director and Acting IMF Chair, said the COVID-19 pandemic was having “a large adverse impact on Mali’s economic growth and public health, adding to the existing security challenges.”

“The decline in economic activity, spillovers from global trade and financing shocks, along with fiscal measures to combat the
crisis have created an urgent balance-of-payments and fiscal financing needs.

“The emergency financing under the IMF’s Rapid Credit Facility, following the recent approval of debt service relief under the Fund’s CCRT, will support the authorities’ response to the crisis, but additional support from the international donor community will be needed to mitigate
its social and economic effects,” Furusawa added.

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