IMF extends debt service relief for Mali initially delayed due to August 18 coup d’état

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The Executive Board of the International Monetary Fund (IMF) on Friday approved a second six-month tranche of debt service relief for Mali under the Catastrophe Containment and Relief Trust (CCRT) without a meeting.

The approval follows the first six-month tranche (April 14 – October 13, 2020) approved on April 13, 2020 , and enables the disbursement of grants from the CCRT for payment of eligible debt service falling due to the IMF from October 14, 2020 to April 13, 2021, estimated at about US$10.59 million.

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The relief on debt service will free up scarce financial resources to continue strengthening the country’s medical care capacity and addressing the social and economic fallout from the COVID-19 pandemic, the IMF said in a statement.

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The Mali’s approval completes an earlier list of 28 low-income countries that benefited, on October 2, 2020, from the second six-month tranche of debt service relief under the CCRT.

The approval for Mali was delayed because of the coup d’état on August 18, 2020 and the time needed to form the transition government, the IMF said.

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Simon Ateba
Simon Ateba
Simon Ateba covers the White House, the U.S. government, the International Monetary Fund, the World Bank and other financial and international institutions for Today News Africa in Washington D.C. Simon can be reached on simonateba@todaynewsafrica.com

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