Mali: Requests for Disbursement Under the Rapid Credit Facility and Rephasing of Access Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Mali
IMF Staff Country Reports, May 8, 2020
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- Mali: Requests for Disbursement Under the Rapid Credit Facility and Rephasing of Access Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Mali
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Bibliographic details
- Published: May 8, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513543079.002
Overview and economic impact
- Discusses Requests for Disbursement Under the Rapid Credit Facility (RCF) and Rephasing of Access Under the Extended Credit Facility (ECF) Arrangement.
- The coronavirus disease 2019 (COVID-19) shock hit the economy hard amid an already challenging social and security situation.
- The decline in economic activity, spillovers from global trade and financing shocks, along with fiscal measures to combat the crisis have created an urgent balance-of-payments and fiscal financing needs.
Authorities' and regional responses
- The authorities responded quickly to the pandemic with containment measures, stepped up healthcare response, and emergency measures to support households and business affected by the outbreak.
- The regional central bank responded with measures to support liquidity in the banking system.
IMF assessment, support, and conditionality
- Given the urgent balance of payment need caused by the COVID-19 pandemic and the infeasibility of completing a review under the ECF arrangement, staff supports these requests.
- Staff welcomes commitments to safeguard transparency and accountability in the use of emergency funds.
- The RCF is expected to cover about 40 percent of the financing gap in 2020 and is expected to play a catalytic role.
- The authorities are actively engaged with other donors, including the World Bank, to cover the remaining financing needs.
Subjects and keywords
- Subject: COVID-19, Credit, Debt service, External debt, Financial sector policy and analysis, Health, Money, Public debt, Revenue administration, Stress testing
- Keywords: COVID-19, CR, Credit, Debt service, emergency financing request, financing, financing gap, financing needs, Global, IMF lending tracker, ISCR, RCF disbursement, Stress testing, West Africa
International Monetary Fund. African Dept. "Mali: Requests for Disbursement Under the Rapid Credit Facility and Rephasing of Access Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Mali", IMF Staff Country Reports 2020, 153 (2020).
Content in this bundle
- 1mliea2020002