Press Release: Statement at the Conclusion of a visit to the IMF by Mali’s Minister of Economy and Finance
IMF News, June 18, 2014
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- Press Release: Statement at the Conclusion of a visit to the IMF by Mali’s Minister of Economy and Finance
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- Published: June 18, 2014
Mission summary
- Mission led by Madame Bouaré Fily Sissoko, the Economy and Finance Minister of the Republic of Mali, to the International Monetary Fund (IMF) in Washington D.C., from June 16 to 18, 2014.
- Joint statement issued by Madame Bouaré Fily Sissoko and Mr. Christian Josz, IMF Mission Chief for Mali.
- Context: the government of Mali’s commitments under the Extended Credit Facility (ECF) arrangement approved by the IMF Board on December 18, 2013 (See Press Release No. 13/524).
Issues discussed
- Recent purchase of an aircraft.
- A contract for the supply of goods other than arms and munitions entered into by the Ministry of Defense and Veterans Affairs.
- The issuance of a government guarantee for the amount related to the latter and other contracts.
- Public financial management weaknesses identified through IMF and Ministry discussions.
Measures agreed and policy recommendations
- Audit:
- An audit of the above-mentioned transactions by the Auditor General’s Office.
- Governance and procedures:
- Drafting of guidelines specifying the conditions for implementation of certain budget and procurement rules.
- Government commitment:
- The government of Mali has undertaken to implement these measures prior to the next IMF mission to Bamako scheduled to take place in September 2014.
Review process and timelines
- Discussions regarding the conclusion of the first review under the ECF arrangement will continue during the September 2014 mission, taking into account the results of the implementation of the above measures.
- Concluding the discussions on the first program review and reaching an agreement on a program of economic and financial policies for 2015 should facilitate a joint examination of the first and second reviews under the ECF Arrangement by the IMF Board before the end of this year.
Press Release No. 14/290 — June 18, 2014. IMF COMMUNICATIONS DEPARTMENT, Media Relations.