IMF: Loans to Mali could resume soon

Staff Writer
Columbus CEO

BAMAKO, Mali (AP) — Auditors from the International Monetary Fund say they are satisfied Mali is taking steps to correct financial irregularities and loans to the country could resume soon.

Christian Josz, who led an IMF mission to look into suspect transactions, told reporters Thursday that the team found the government overpaid for a military supply contract that was never opened up to bids. But Josz said the government promised to punish those at fault and make the findings public.

In the wake of the transactions, the IMF suspended its disbursement of about $46 million worth loans to Mali, which is struggling to return to stability after a war with jihadists who seized the country's north.

The IMF will officially decide in October whether to resume funding.