(3 minutes read)
· The IMF approved a disbursal of US$200 million under the
Rapid Credit Facility to help Mali meet urgent balance-of-payments and
fiscal needs stemming from the COVID-19 pandemic
· In addition to this, recently IMF has approved US$ 10 million
under the Catastrophe Containment Relief Trust (CCRT)
· According to a statement issued by the IMF after taking the
decision to disburse the fund said that the Mali authorities have
responded quickly to the pandemic with containment measures, stepped
up healthcare response and emergency measures to support households
and businesses affected by the outbreak.
The IMF approved a disbursal of US$200 million under the Rapid Credit
Facility to help Mali meet urgent balance-of-payments and fiscal needs
stemming from the COVID-19 pandemic. This assistance is meant to
support urgent spending on health services. It will also give
assistance to affected firms and households, thereby addressing the
social and economic impact. In addition to this, the IMF recently
approved US$ 10 million under the Catastrophe Containment Relief Trust
(CCRT).
The COVID-19 has had its deleterious impact on Mali’s economy
increasing already high unemployment and poverty. The authorities
responded quickly with measures to contain the spread of the virus and
to mitigate its social and economic impact. The economy is expected to
contract by one percent unless radical steps are not taken to contain
the downward slide. The fiscal deficit is slated to go up in view of
the higher government spending towards healthcare.
According to a statement issued by the IMF after taking the decision
to disburse the fund said that the Mali authorities have responded
quickly to the pandemic with containment measures, stepped up
healthcare response and emergency measures to support households and
businesses affected by the outbreak. The statement also said that the
regional central bank responded with measures to support liquidity in
the banking system.
