• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
AFRIPOL

AFRIPOL

en English
ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
  • Home
  • About Us
  • Mission Statement
  • Articles
  • Book Review
  • Archive
  • Contact Us

IMF reaches $18 million loan deal with Mali

November 16, 2012 by Admin Leave a Comment

Written by Reuters

the business times

The International Monetary Fund said on Wednesday that it had reached an $18 million loan agreement with Mali.

The loan to the land-locked African country comes under the IMF’s Rapid Credit Facility, a quick-disbursing fund for poor countries recovering from natural disasters or conflict. Mali descended into chaos after a military coup in March.

The agreement is subject to approval by the IMF’s board early next year.

Mali received a $46 million loan from the IMF last year but cancelled it after soldiers toppled the president and al Qaeda-linked militants seized northern cities.

A leading producer of gold and cotton, Mali faces a budget shortfall in 2012, especially since the European Union and the United States suspended aid after the coup.

“Mali’s economy is traversing a difficult period,” Christian Josz, head of the IMF’s mission, said in a statement. “Already under stress from the very poor 2011-12 harvest, it was severely affected by the March 2012 coup d’état and its aftermath.”

The IMF said national income should shrink 1.5 percent in 2012 before rebounding to 4 percent or 5 percent in 2013.

The Fund said that the government did well to cut public investment and reduce subsidies on oil and cooking gas, resulting in a “modest” budget deficit.

For 2013, Mali faces a budget shortfall of $110 million, but it will freeze spending unless it is able to plug the gap with development aid from donors, the IMF said.

Filed Under: Strategic Research & Analysis

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

More to See

“Oops” was Tems Responds to those saying her Gorgeous Gown Blocked views @ 2023 Oscars

March 15, 2023 By AFRIPOL

United States Blinken in Africa Having a coffee time in Ethiopia (video)

March 15, 2023 By AFRIPOL

RSS AllAfrica News: Latest

  • Namibia: Germany Stands By Genocide Deal Despite Court Case
    [DW] The Nama and Herero have asked Namibia's highest court to stop a planned genocide 'reconciliation' deal between Namibia and Germany. A decision is pending but Germany appears set on implementing the deal.
  • Zimbabwe: Woes Mount for Pervert Ex-CZI Boss - Loses Property Over Judgement Debt
    [New Zimbabwe] It never rains but pours for former Confederation of Zimbabwe Industries (CZI) chief executive Farai Bwatikona Zizhou who was ordered by the High Court to pay his ex-personal assistant Rita Marque Mbatha US$180 000 damages for sexual harassment in 2021.
  • Nigeria: Ironing Out Nigeria's Polling Process for a Smoother Future
    [ISS] The country's 2023 elections delivered a president, but the process was far from perfect.
  • Ghana: Women Occupy Very Few Academic Jobs in Ghana. Culture and Society's Expectations Are to Blame
    [The Conversation Africa] In many parts of the world, men dominate the higher education sector. A 2022 UNESCO report found that, globally, fewer than two out of five senior academics are women. In an earlier report it showed that less than 30% of the world's researchers are women.
  • Africa: TB Kills 75,000 Children in Africa Every Year - How This Can Stop #WorldTBDay
    [The Conversation Africa] Tuberculosis (TB) is a preventable and curable disease. Half of the world's 30 highest TB burden countries are in Africa. In many of these countries, TB is the leading cause of death across age groups, but especially among children. Globally, TB is the leading cause of death by any single infectious agent […]
  • South Africa: Fuel Price Relief Likely in April as Rand Firms - South African News Briefs - March 24, 2023
    [allAfrica] Cape Town --

Tags

Achebe Africa Anambra Boko Haram Buhari CBN Corona Virus Egypt Igbo IMF Inflation Jonathan Kenya Nigeria Okonjo Iweala Peter Obi Sanusi Senate Soludo South Africa Soyinka United States
  • Facebook
  • Instagram
  • Twitter
  • YouTube

Archives

Footer

Africa Political and Economic Strategic Center, AFRIPOL is foremost a public policy center whose fundamental objective is to broaden the parameters of public policy debates in Africa. To advocate, promote and encourage free enterprise, democracy, sustainable green environment, human rights, conflict resolutions, transparency and probity in Africa.

Recent

  • Ike Ekweremadu, wife & Dr. Obinna Obeta found guilty of organ trafficking
  • The Trembling Of A Silent Revolution by Pius Okaneme
  • “Why is it important that the diaspora come home?” –  Burna Boy answer to the question came with criticism from African Americans.
  • Dr. Mbah Declared Enugu State Governor-Elect by INEC
  • Alex Otti of Labour Party wins Abia Governorship Election

Search

Tags

Achebe Africa Anambra Boko Haram Buhari CBN Corona Virus Egypt Igbo IMF Inflation Jonathan Kenya Nigeria Okonjo Iweala Peter Obi Sanusi Senate Soludo South Africa Soyinka United States

Copyright © 2023 · AFRIPOL