May 14, 2014 / 10:59 PM / in 4 years

IMF says Mali cash to be delayed over questionable jet purchase

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 International Monetary Fund (IMF) logo is seen at the IMF headquarters building during the 2013 Spring Meeting of the International Monetary Fund and World Bank in Washington, April 18, 2013. REUTERS/Yuri Gripas

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

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