News Column

IMF: No Aid to Mali until at least September

June 21, 2014

Washington, Sha'ban 22, 1435, Jun 20, 2014, SPA -- The International Monetary Fund (IMF) said Thursday that aid to Mali, which has been frozen since the country lavished $40 million on a presidential plane, will remain suspended at least until September.

The IMF said that it has held discussions in recent weeks with Malian authorities about the recent purchase of the luxurious new aircraft by the president of the impoverished African country, Ibrahim Boubacar Keita.

The Fund said that the discussions are to ensure that financial management "is being conducted in a manner consistent with the quantities targets and commitments to good governance" undertaken by the government.

According to the IMF, the Malian government had agreed to undertake "concrete measures" to address financial management weaknesses, including an audit of the aircraft transaction and a $200 million state guarantee to allow a company to buy supplies for the army.

All of those steps must be taken before the next IMF mission to Bamako, which is set for September.


13:12 LOCAL TIME 10:12 GMT

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Source: Saudi Press Agency (Saudi Arabia)

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