Mali on the edge of huge growthChina offers $50 million to Mali in midst of IMF talks Monday, 22 September 2014 | Third World View The International Monetary Fund and the World Bank froze nearly 70 million dollars in financing in May when they found that the Malian government had purchased a 40 million dollar presidential jet. But on September 11th the IMF restarted talks with Mali, agreeing to review Mali’s program and eventually resume aid payments. The government agreed to cut expenditures so that the aircraft purchase would not increase its debt. An IMF spokesman said that authorities agreed to a review of government transactions by an independent auditor and to tightening the procurement code. Last year donors pledged over 4 billion dollars to rebuild Mali after first a military coup ousted the president and then a mix of separatist Tuaregs and al-Qaeda-linked-rebels took over the northern portion of the country. French and international troops have chased most of the Islamist fighters out of the north and the government was re-established in Bamako, the capital, after elections were held. But the plane deal recalled the mis-spending and cronyism that had marked the previous government. Current Malian President Ibrahim Boubacar Keita went to China two weeks ago and reached an agreement that will give Mali another 51 million dollars in funding. The agreement includes a hefty cash gift and an interest-free loan. Other partnership agreements between Mali and China include the construction of a bridge across the Niger River and a railway line between Bamako and Conakry, Guinea.