{
  "title": "The Importance and Drivers of Stock-Flow Adjustments in Mali",
  "publication": "Selected Issues Papers, July 19, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/selected-issues-papers/issues/2023/07/19/the-importance-and-drivers-of-stock-flow-adjustments-in-mali-536730",
  "canonical": "https://www.imf.org/en/publications/selected-issues-papers/issues/2023/07/19/the-importance-and-drivers-of-stock-flow-adjustments-in-mali-536730",
  "overlayPath": "/en/publications/selected-issues-papers/issues/2023/07/19/the-importance-and-drivers-of-stock-flow-adjustments-in-mali-536730/index.md",
  "summary": "Stock-flow adjustments—extra-budgetary and below-the-line operations that do not reflect standard spending and revenue—have added 9 percentage points to the debt-to-GDP ratio in Mali over the past decade. That is just under a third of the total increase in public debt over that period.",
  "sections": [
    {
      "heading": "Key findings",
      "content": "- Stock-flow adjustments—extra-budgetary and below-the-line operations that do not reflect standard spending and revenue—have added 9 percentage points to the debt-to-GDP ratio in Mali over the past decade.\n- That 9 percentage points is described as just under a third of the total increase in public debt over that period.\n- There is little understanding of the causes of stock-flow adjustments despite their sizable contribution to the rise in public debt."
    },
    {
      "heading": "Analysis and implications",
      "content": "- Stock-flow adjustments materially affect debt dynamics and debt-to-GDP outcomes in Mali.\n- Limited knowledge of drivers constrains accurate fiscal assessment and debt sustainability analysis.\n- Improving transparency and monitoring of below-the-line and extra-budgetary operations would assist fiscal policy decision-making."
    },
    {
      "heading": "Policy recommendations (as described)",
      "content": "- Pursue actions to reduce the occurrence of stock-flow adjustments.\n- Increase transparency and monitoring of stock-flow adjustments to support better fiscal policy decisions.\n\n---\n\n Content in this bundle\n\n- The Importance and Drivers of Stock-Flow Adjustments — Mali\n  - The Importance and Drivers of Stock-Flow Adjustments — Mali (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - The Importance and Drivers of Stock-Flow Adjustments — Mali (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/selected-issues-papers/issues/2023/07/19/the-importance-and-drivers-of-stock-flow-adjustments-in-mali-536730"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/selected-issues-papers/issues/2023/07/19/the-importance-and-drivers-of-stock-flow-adjustments-in-mali-536730/index.md)",
    "[Structured JSON version](/en/publications/selected-issues-papers/issues/2023/07/19/the-importance-and-drivers-of-stock-flow-adjustments-in-mali-536730/index.json)",
    "[Bundle manifest](/en/publications/selected-issues-papers/issues/2023/07/19/the-importance-and-drivers-of-stock-flow-adjustments-in-mali-536730/bundle-manifest.json)",
    "Authors: Peter Kovacs, Luc Tucker",
    "Published: July 19, 2023",
    "Series: Selected Issues Papers",
    "DOI: https://doi.org/10.5089/9798400248764.018",
    "Stock-flow adjustments—extra-budgetary and below-the-line operations that do not reflect standard spending and revenue—have added 9 percentage points to the debt-to-GDP ratio in Mali over the past decade.",
    "That 9 percentage points is described as just under a third of the total increase in public debt over that period.",
    "There is little understanding of the causes of stock-flow adjustments despite their sizable contribution to the rise in public debt.",
    "Stock-flow adjustments materially affect debt dynamics and debt-to-GDP outcomes in Mali.",
    "Limited knowledge of drivers constrains accurate fiscal assessment and debt sustainability analysis.",
    "Improving transparency and monitoring of below-the-line and extra-budgetary operations would assist fiscal policy decision-making.",
    "Pursue actions to reduce the occurrence of stock-flow adjustments.",
    "Increase transparency and monitoring of stock-flow adjustments to support better fiscal policy decisions.",
    "**The Importance and Drivers of Stock-Flow Adjustments — Mali**"
  ],
  "related": [
    {
      "title": "The Importance and Drivers of Stock-Flow Adjustments — Mali",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/selected-issues-papers/2023/english/sipea2023058.pdf",
      "summary": {
        "path": "/-/media/files/publications/selected-issues-papers/2023/english/sipea2023058.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/selected-issues-papers/2023/english/sipea2023058.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/selected-issues-papers/issues/2023/07/19/the-importance-and-drivers-of-stock-flow-adjustments-in-mali-536730/index.md",
    "json": "/en/publications/selected-issues-papers/issues/2023/07/19/the-importance-and-drivers-of-stock-flow-adjustments-in-mali-536730/index.json",
    "bundleManifest": "/en/publications/selected-issues-papers/issues/2023/07/19/the-importance-and-drivers-of-stock-flow-adjustments-in-mali-536730/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-20T19:28:43.265Z"
}