BAMAKO, Mali – The International Monetary Fund is unfreezing its loans to Mali after a review of financial irregularities, releasing $11.7 million to the country.
The West African country is struggling return to stability after a war with jihadists and is now also trying to contain the spread of Ebola.
The fund suspended its loans to Mali in June over concerns that it overpaid for a military supply contract and bought an expensive private plane, at a time when it should be tightening its budget. In September, auditors from the fund said they were satisfied the country is taking steps to rectify these problems.
On Monday, the fund's executive board completed its official review and agreed to continue disbursing the loans, which total about $45 million overall.