IMF says Mali cash to be delayed over questionable jet purchase

Reuters News
Posted: May 14, 2014 6:56 PM

DAKAR (Reuters) - The International Monetary Fund says it questions the rationale of and procedures that led to Mali buying a $40 million presidential jet given the country's pledges to fight poverty, a spokesman said.

The IMF has contacted Malian authorities about the purchase as well as a separate 100 billion CFA franc ($209.02 million) state guarantee issued to guarantee a loan secured by a private company with a Malian bank to provide supplies for the army, the spokesman said.

The IMF spokesman added that the process of getting this information will delay the first review of its post-war aid package and, as a result, a $6 million disbursement due in June will be delayed.

($1 = 478.4340 CFA Francs)

(Reporting by David Lewis; Editing by Chris Reese)