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$18.4 million loan for Mali approved by IMF

$18.4 million loan for Mali approved by IMF

The International Monetary Fund has approved an $18.4 million loan for Mali in an effort to aid the stabilization of the African state economy over the next 12 months.

The IMF hopes that the endorsement will prompt other donors such as the World Bank, the African Development Bank and France to provide financial assistance.

The war-torn country faces a $110 million budget deficit unless the development aid starts floating from donors, the IMF said.

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