## Press Release: IMF to Extend 100 Percent Debt Relief to Mali Under the Multilateral Debt Relief Initiative

_IMF News, December 23, 2005_

## Source details

**Canonical URL:** [Press Release: IMF to Extend 100 Percent Debt Relief to Mali Under the Multilateral Debt Relief Initiative](https://www.imf.org/en/news/articles/2015/09/14/01/49/pr05297)

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## Bibliographic details
- Published: December 23, 2005

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### Decision and Amounts
- The IMF Executive Board has approved debt relief for Mali under the Multilateral Debt Relief Initiative.
- The IMF will provide 100 percent debt relief on all debt incurred by Mali to the IMF before January 1, 2005 that remains outstanding.
- This amounts to approximately US$108 million, or US$90 million excluding remaining assistance under the Heavily Indebted Poor Countries Initiative.

### Timing and Conditions for Availability
- The debt relief should become available in early January as soon as the remaining consents of the contributors to the PRGF Trust Subsidy Account have been received.

### Eligibility, Performance, and Rationale
- Mali qualified for IMF debt relief because of:
  - its overall satisfactory recent macroeconomic performance,
  - progress in poverty reduction, and
  - improved public expenditure management.
- The press release notes that Mali continued to implement sound macroeconomic policies in the face of significant exogenous shocks, which:
  - maintained macroeconomic stability,
  - limited the deterioration of public finances, and
  - maintained a focus on reducing poverty.
- These performance factors provide assurance that resources made available under the Multilateral Debt Relief Initiative will be used effectively.

### Purpose and Outlook
- The international community made these additional resources available to help Mali make progress toward its Millennium Development Goals (MDGs).
- The IMF expressed that it looks forward to working with Mali to help it develop a strong and stable economy and to make sustained progress toward the MDGs.

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## References

- [Mali and the IMF](http://www.imf.org/external/country/MLI/index.htm)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [Press Release No 05/286](https://www.imf.org/external/np/sec/pr/2005/pr05286.htm)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr05297_