Mali: Request for Second Tranche of Debt Service Relief Under the Catastrophe Containment and Relief Trust-Press Release; and Staff Report
IMF Staff Country Reports, January 5, 2021
Source details
- Canonical URL
- Mali: Request for Second Tranche of Debt Service Relief Under the Catastrophe Containment and Relief Trust-Press Release; and Staff Report
Other formats
Bibliographic details
- Published: January 5, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513565996.002
Summary and key findings
- The COVID-19 pandemic and the August 2020 coup d’état have disrupted more than half a decade of strong economic performance, during which growth averaged 5 percent.
- Growth is projected to decline from 5 percent to -2 percent in 2020 due to:
- the pandemic: slowdown in external demand, travel, and FDI, and reduced mobility and uncertainty weighing on domestic demand;
- post-coup disruptions in trade, transport, economic and financial flows following the sanctions imposed by the Economic Community of West African States (ECOWAS).
- Inflation accelerated slightly in recent months but is expected to remain below 2 percent.
- The current account deficit is projected to narrow due to higher gold prices (main export) and lower oil prices (main import).
Risks and vulnerabilities
- Risks around the outlook are described as exceptionally high given:
- uncertainty surrounding the political transition;
- the impact of ECOWAS sanctions on trade and overall activity;
- continued deterioration in the security situation.
- Weak social safety nets, high informality, food insecurity, and a fragile healthcare system exacerbate the country’s challenges.
Context for debt-relief request
- The document concerns Mali’s request for a second tranche of debt service relief under the Catastrophe Containment and Relief Trust in the context of the COVID-19 shock and concurrent political developments.
International Monetary Fund. Mali: Request for Second Tranche of Debt Service Relief Under the Catastrophe Containment and Relief Trust-Press Release; and Staff Report
Content in this bundle
- 1mliea2021001