WASHINGTON (Sputnik) — The Executive Board of the International Monetary Fund approved a disbursement worth almost $44 million to Mali under its existing loan and also agreed to augment access and extend the arrangement for another year, the IMF said in a statement.
"Completion of the review enables the disbursement of SDR 31.65 million (about US$43.96 million), bringing total disbursements under the arrangement to SDR 91.65 million (about US$ 127.29 million) or 49.1 percent of quota. In addition, the Executive Board approved the authorities’ request for a one-year extension of the ECF arrangement to December 17, 2018 and an augmentation of access by SDR 88.6 million or 47.5 percent of quota," the IMF said on Friday.
The IMF said Mali was on track to achieve GDP growth of 5.3 percent in 2017 and 5.0 percent in 2018.
It warned, however, that the fragile security situation in the country posed a downside risk to its favorable outlook.
