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Financing economic reforms: Mali obtains CFAF 31.09 billion from the IMF

25/02/2021
Source : ORISHAS FINANCE
Categories: General Information

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The International Monetary Fund (IMF) has just agreed to finance 31.09 billion CFA francs in Mali. This disbursement will support its economic reform agenda. Following the IMF Executive Board, whose members welcomed the reforms implemented by the Malian government, the country received financial support. These reforms are "oriented towards the fight against the Covid-19 health crisis and its economic and social consequences, the reduction of non-priority spending, short-term macroeconomic stability and medium-term fiscal sustainability as well as measures conducive to growth and the fight against poverty", announces a press release from the Ministry of Economy and Finance. Strengthening domestic revenue mobilization through teleprocedures (teledeclaration and electronic payment), continuing to implement the Treasury Single Account, and assisting poor and vulnerable households, in accordance with the Government's Action Plan (PAG) adopted by the National Transitional Council (NTC) are, among other things, reforms that have caught the attention of IMF Executive Directors. According to the statement, this "will support the government's efforts to meet the country's financing needs, support social spending and post-pandemic economic recovery." Recall that this financing comes at the end of the conclusion of the 2nd and 3rd reviews of the economic and financial program with the IMF supported by an Extended Credit Facility (ECF) approved by the IMF Executive Board on August 28, 2019.
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