The International Monetary Fund (IMF) has approved an immediate disbursement of US$129 million to Mali under its Rapid Credit Facility (RCF).
The financial aid is targeted towards addressing Mali’s urgent economic needs in the aftermath of severe flooding that struck in 2024, causing widespread damage to infrastructure and agricultural land, disrupting essential services, and worsening already high levels of food insecurity.
According to the IMF, the emergency funds will assist Mali in meeting urgent balance of payments needs, including the importation of essential goods and the rebuilding of critical infrastructure.
The broader programme also aims to reinforce macroeconomic stability, enhance resilience, safeguard vulnerable populations, and promote better governance.
The support, equivalent to approximately 93.3 million Special Drawing Rights (SDRs), is accompanied by an 11-month staff-monitored programme.
The Malian authorities, as part of the agreement, have committed to improving fiscal governance and ensuring transparency in the management of IMF funds with a focus on strengthening social safety nets and tackling food insecurity.
They also underlined the importance of enhancing the efficiency of public spending which includes addressing vulnerabilities in state-owned enterprises such as Énergie du Mali (EDM), while maintaining investment in public services and ensuring continued support for the most at-risk communities.
© WAVN