IMF resumes loans to Mali frozen because of irregularities, $11.7 million installment paid
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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.
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On Monday, the fund's executive board completed its official review and agreed to continue disbursing the loans, which total about $45 million overall.