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Country Report Mali Product Image

Country Report Mali

  • ID: 2138674
  • December 2014
  • Region: Mali
  • 25 Pages
  • The Economist Intelligence Unit

After carrying out a thorough audit of contentious procurement transactions and introducing reforms demanded by the IMF to prevent further abuses in the future, Mali has recovered full access to Fund support, triggering the resumption of aid from key donors, including the EU. On December 12th Mali's finance minister, Bouaré Fily Sissoko, announced on national radio that the government had now received a EUR94m (US$117m) disbursement of aid from the EU.

In June the IMF suspended its funding for Mali because of concerns over the way in which the government had handled the acquisition of a US$40m presidential jet and its provision of a US$200m state loan guarantee for Guo Star, a company that had been contracted to provide supplies to the army. This prompted other donors to freeze their aid as well. Coming just 13 months after donors had pledged more than EUR3bn for Mali, the affair was a major embarrassment for the president, Ibrahim Boubacar Keïta. It confirmed the extent to which international partners' confidence in his administration had slumped since the buoyant aftermath of his accession to office in September 2013.

Although Mr Keïta's acquisition of a new jet had stirred public controversy, the IMF's concern was not the actual decision to buy the aircraft but the fact that this purchase and the military procurement deal were outside the budget and that the terms of these deals were questionable. This was a sore point with other donors too. After pledging such large volumes of support for Mali, they are determined to see that the money is properly accounted for.

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Country Report Mali

Donors restore support
Impact on the forecast

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Note: Product cover images may vary from those shown


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