Mali: 2023 Article IV Consultation-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Mali
IMF Staff Country Reports, June 14, 2023
Source details
- Canonical URL
- Mali: 2023 Article IV Consultation-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Mali
Other formats
Bibliographic details
- Published: June 14, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400245985.002
Economic performance and outlook
- Real gross domestic product (GDP) growth increased from 3.1 percent in 2021 to 3.7 percent in 2022.
- Growth is projected to rebound to over 5 percent in 2023 and 2024, assuming strong agricultural and gold output.
- Mali’s current account deficit improved slightly in 2022, down to 6.9 percent of GDP from 7.5 percent in 2021, on account of higher gold exports and lower capital goods imports.
- The economy remained resilient in 2022 amid high inflation.
Shocks and downside risks
- Economy hit by multiple shocks since 2020.
- Key downside risks identified:
- A worsening security situation.
- Potential election delays.
- Volatile international commodity prices.
- Tighter global financial conditions.
- Climate risks.
- Elevated security and socio-political challenges, regional sanctions in the first half of 2022, and a high incidence of food insecurity constrained performance in 2022.
Fiscal situation and expenditure composition
- The government’s fiscal deficit reflects a rapid increase in:
- Security spending.
- Public wages.
- The interest bill.
- These increases are crowding out growth-friendly spending, including spending on:
- The social safety net.
- Capital investment.
Subjects and keywords (as stated)
- Debt sustainability, External debt, Government debt management, International organization, Monetary policy, Public debt, Public financial management (PFM), Revenue administration
- authorities' roadmap, B. financing condition, concerted effort, Debt sustainability, Global, Government debt management, Malian authorities' effort, medium-term projection, West Africa
Mali: 2023 Article IV Consultation-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Mali, June 14, 2023.
Content in this bundle
- 1mliea2023001