## IMF Executive Board Completes Sixth Review Under Mali’s ECF and Approves US$25.8 Million Disbursement for Mali

_IMF News, December 5, 2016_

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**Canonical URL:** [IMF Executive Board Completes Sixth Review Under Mali’s ECF and Approves US$25.8 Million Disbursement for Mali](https://www.imf.org/en/news/articles/2016/12/05/pr16542-mali-imf-executive-board-completes-sixth-review-under-ecf-and-approves-disbursement)

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## Bibliographic details
- Published: December 5, 2016

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### Summary of Board action
- On December 2, 2016, the Executive Board of the International Monetary Fund concluded the sixth review of Mali’s performance under an economic program supported by an Extended Credit Facility (ECF) arrangement.
- The decision enables the disbursement of SDR19 million (about US$25.8 million).
- The decision was taken on a lapse of time basis.[1]

### Program financing and status
- Disbursement approved: SDR19 million (about US$25.8 million).
- Total disbursements under the arrangement after this decision: SDR60 million (about US$ 1.3 million).
- Original ECF approval: December 18, 2013 for SDR 30 million (about US$ 40.7 million).
- On June 9, 2016, the Board approved:
  - a one-year extension of the arrangement to December 17, 2017, and
  - an augmentation bringing the total amount of the arrangement to SDR 98 million (about US$ 132.8 million).

### Economic performance and outlook
- Projected GDP growth: 5.4 percent for 2016 and 5.3 for 2017.
- Drivers of activity:
  - public capital spending, and
  - the regional central bank’s (BCEAO) accommodative policy.
- Inflation projections:
  - projected to decline to 0.5 percent by end-December, and
  - expected to remain contained at 1 percent.
- Downside risks: the favorable outlook is subject to downside risks stemming mainly from Mali’s fragile security situation.

### Program modification
- The Executive Board approved the authorities’ request for the modification of the ceiling on the continuous performance criterion on non-concessional external debt.

### Procedural note
- [1] The Executive Board takes decisions under its lapse of time procedure when it is agreed by the Board that a proposal can be considered without convening formal discussions.

### Media contact
- IMF Communications Department — MEDIA RELATIONS
- PRESS OFFICER: Lucie Mboto Fouda
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org

*Press Release No. 16/542 — December 5, 2016*

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## References

- [The Executive Board](http://www.imf.org/external/np/sec/memdir/eds.aspx)
- [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. 13/524](http://www.imf.org/external/np/sec/pr/2013/pr13524.htm)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2016/12/05/pr16542-mali-imf-executive-board-completes-sixth-review-under-ecf-and-approves-disbursement_