IMF Executive Board Extends Immediate Debt Service Relief for Mali for Another Six Months

IMF News, October 30, 2020

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Canonical URL: IMF Executive Board Extends Immediate Debt Service Relief for Mali for Another Six Months

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Published: October 30, 2020

Approval and scope

On October 30, 2020, the IMF Executive Board approved a second six-month tranche of debt service relief for Mali under the Catastrophe Containment and Relief Trust (CCRT) without a meeting.
The approval enables the disbursement of grants from the CCRT for payment of eligible debt service falling due to the IMF from October 14, 2020 to April 13, 2021.

Amounts and timing

Estimated relief: SDR 7.50 million (about US$10.59 million).
Coverage period for eligible IMF debt service: October 14, 2020 to April 13, 2021.
This follows an earlier six-month tranche covering April 14 – October 13, 2020, approved on April 13, 2020 (Press Release No. 20/151).

Purpose and expected impact

The relief on debt service is intended to free up scarce financial resources in Mali to:
- continue strengthening the country’s medical care capacity; and
- address the social and economic fallout from the COVID-19 pandemic.

Context and procedural note

Mali’s approval was not included in the group of 28 low-income countries that benefited from the second six-month tranche on October 2, 2020 (Press Release No. 20/304) because:
- the approval for Mali was delayed due to the coup d’état on August 18, 2020; and
- additional time was needed to form the transition government.

Contact

IMF Communications Department, Media Relations — Press Officer: Meera Louis; Phone: +1 202 623-7100; Email: MEDIA@IMF.org; @IMFSpokesperson

IMF Press Release No. 20/328, October 30, 2020.

References