Mali: Request for Disbursement under the Rapid Credit Facility—Staff Report; Informational Annex; Staff Statement; Press Release on the Executive Board Approval; and Statement by the Executive Director for Mali
June 21, 2013
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The security and political crisis in Mali caused a sharp recession along with tax and external financing shortfalls. There has been a sharp expenditure cut and increased recourse to domestic financing, but the accumulation of arrears is prevalent. The first disbursement under the Rapid Credit Facility (RCF) of special drawing rights (SDR) 12 million in February has catalyzed about $508 million of budget support thus far. Resumption of donor support brightens the path to economic recovery, but there remain important financing gaps. Strengthening public financial management is essential for sustained macroeconomic and fiscal stability.
Subject: Budget planning and preparation, Credit, Expenditure, Financial institutions, Loans, Money, Public financial management (PFM)
Keywords: Budget planning and preparation, CR, Credit, donor, Europe, financing gap, Global, government, government control, ISCR, Loans, Maghreb, Mali's economy, property administration, staff appraisal, Sub-Saharan Africa, West Africa
Pages:
76
Volume:
2013
DOI:
Issue:
168
Series:
Country Report No. 2013/168
Stock No:
1MLIEA2013004
ISBN:
9781484399972
ISSN:
1934-7685
