Economy - Mali

Since mid-1992 the Malian authorities have implemented an ambitious adjustment program designed to achieve sustained economic growth and move Mali to financial viability over the medium term. Overall, under the 1992-95 economic program, Mali made considerable progress in reducing financial imbalances and liberalizing its economic growth. Progress in implementing reforms in the social sectors has been relatively slow and access to social services improved only marginally. Mali has an important agricultural potential (cotton, rice and cereals, livestock). Mali has recently become the leading producer and exporter of cotton fiber in sub-Saharan Africa, with production more than doubling since the devaluation of the CFA franc in 1994. However, significantly lower production prospects are expected in 2000/01. Production of paddy rice in the Office du Niger zone has increased by a factor of five over the last 15 years. Livestock export to neighboring countries are now more competitive and local rice is now able to compete with imports from Asia without recourse to excessively high levels of protection. The Niger river has large irrigation potential, and the Senegal river (Manantali) has important hydro-power potential. Of gold, phosphate, diamonds and copper deposits, only gold and phosphate are currently exploited. Indications of expansion in industrial activity are encouraging (cottonseed oil, textiles, vegetable oil).

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