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Mali

Author(s):
International Monetary Fund
Published Date:
February 1998
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Table 1.Mali: Gross Domestic Product at Constant 1987 Prices, 1991-96 1/
199119921993199419951996
Estimates
(In billions of CFA francs)
Primary sector289.6333.6305.3328.2358.0362.1
Food crops113.9156.3119.0142.9159.9147.1
Industrial crops 2/49.449.452.944.453.263.8
Livestock83.083.788.093.396.1100.9
Fishing9.59.49.49.810.010.2
Forestry33.834.836.037.838.840.1
Secondary sector104.1109.2113.4114.6123.5134.3
Industry40.044.346.947.851.454.3
Mining14.215.515.414.015.417.8
Handicrafts17.516.116.817.318.019.3
Construction and public works32.433.334.335.538.742.9
Tertiary sector226.3233.1240.6234.6238.8252.1
Transportation32.432.233.332.433.134.9
Trade105.5113.1117.6116.8120.2127.4
Other services43.544.346.251.253.155.8
Public administration49.548.148.138.036.137.6
Other-4.6-4.6-4.6-3.8-3.7-3.6
GDP (at factor cost)620.0675.9659.3677.4720.3748.5
Import taxes35.334.034.031.634.235.9
GDP (at market prices)655.3709.9693.3709.0754.5784.4
(Annual percentage change)
Primary sector-5.415.2-8.57.59.11.1
Food crops-18.437.2-23.920.111.9-8.0
Industrial crops 2/17.80.07.1-16.119.819.9
Livestock-0.40.85.16.03.05.0
Fishing12.7-1.10.04.32.02.0
Forestry3.03.03.45.02.63.4
Secondary sector12.74.93.81.17.88.7
Industry5.110.85.91.97.55.6
Mining27.69.2-0.6-9.110.015.6
Handicrafts4.7-8.04.33.04.07.2
Construction and public works22.32.83.03.59.010.9
Tertiary sector-0.53.03.2-2.51.85.6
Transportation7.3-0.63.4-2.72.25.4
Trade-0.77.24.0-0.72.96.0
Other services0.51.84.310.83.75.1
Public administration-5.6-2.80.0-21.0-5.04.2
Other-0.80.00.0-17.4-2.6-2.7
GDP (at factor cost)-1.09.0-2.52.76.33.9
Import taxes0.1-3.70.0-7.18.25.0
GDP (at market prices)-0.98.3-2.32.36.44.0
Sources: Data provided by the Malian authorities; and Fund staff estimates.

Data may not add up because of rounding.

Includes cotton, groundnuts, tobacco, fruits, vegetables, and others. Cotton accounted for approximately 85 percent at the total over the period 1991-96.

Sources: Data provided by the Malian authorities; and Fund staff estimates.

Data may not add up because of rounding.

Includes cotton, groundnuts, tobacco, fruits, vegetables, and others. Cotton accounted for approximately 85 percent at the total over the period 1991-96.

Table 2.Mali: Origin and Use of Resources, 1991-96 1/
199119921993199419951996
(In billions of CFA francs)
Gross domestic product682.1753.5755.21028.71231.01360.7
Consumption638.4720.0706.5955.61114.61214.1
Public99.4101.097.4124.4166.3146.6
Private539.0619.0609.1831.1948.31067.5
Domestic savings43.733.548.773.1116.5146.6
Investment155.6165.0165.4267.5320.1360.6
Public82.771.570.3133.8154.4164.2
Private72.993.595.1133.7165.7196.4
Resource gap-111.9-131.5-116.7-194.4-203.7-214.0
Exports of goods and nonfactor services124.6116.5120.1225.1265.1269.4
Imports of goods and nonfactor services-236.5-248.0-236.8-419.5-468.8-483.4
(In percent of GDP)
Gross domestic product100.0100.0100.0100.0100.0100.0
Consumption93.695.693.692.990.589.2
Public14.613.412.912.113.510.8
Private79.082.180.780.877.078.5
Domestic savings6.44.46.47.19.510.8
Investment22.821.921.926.026.026.5
Public12.19.59.313.012.512.1
Private10.712.412.613.013.514.4
Resource gap-16.4-17.5-15.5-18.9-16.5-15.7
Exports of goods and nonfactor services18.315.515.921.921.519.8
Imports of goods and nonfactor services-34.7-32.9-31.4-40.8-38.1-35.5
(In billions of CFA francs)
Memorandum items:
Current account deficit (excl.off.grants)-101.2-122.8-97.6-182.6-180.2-200.0
of which; private transfers19.719.626.547.147.846.0
Official transfers89.694.967.3136.9111.4124.1
Net factor income-9.0-10.9-7.4-26.4-32.5-32.0
National savings54.442.267.890.0139.9157.4
(In percent of GDP)
Current account deficit (excl. off. grants)-14.8-16.3-12.9-17.8-14.6-14.7
of which; private transfers2.92.63.54.63.93.4
Official transfers13.112.68.913.39.09.1
Net factor income-1.3-1.4-1.0-2.6-2.6-2.4
National savings8.05.69.08.711.411.6
Sources: Data provided by the Malian authorities; and Fund staff estimates.

Data may not add up because of rounding.

Sources: Data provided by the Malian authorities; and Fund staff estimates.

Data may not add up because of rounding.

Table 3.Mali: Agricultural Production, Marketing, and Official Producer Prices, 1990/91-1996/97 1/
1990/911991/921992/931993/941994/951995/961996/97
Prel.
(In thousands of metric tons)
Production (gross)
Cotton317313353276315406452
Groundnuts178184127148215157134
Millet/sorghum/maize1,4651,9171,3771,7681,9661,6811,569
Paddy rice282454410428469463614
Marketing 2/
Cotton276272307240277364370
Groundnuts3739
Millet/sorghum/maize9491131
Paddy rice22472892
(In CFA francs per kilogram)
Official producer prices
Cotton 3/85858585125125125
Paddy rice7070707894124135
Sources: Data provided by the Malian authorities; and Fund staff estimates.

The crop year is April/March; the marketing year is November/October.

Except for cotton, the marketing of agricultural products by official agencies was discontinued in 1995.

Floor price of first quality cotton.

Sources: Data provided by the Malian authorities; and Fund staff estimates.

The crop year is April/March; the marketing year is November/October.

Except for cotton, the marketing of agricultural products by official agencies was discontinued in 1995.

Floor price of first quality cotton.

Table 4.Mali: Cereals--Cultivated Area and Rainfall, 1990/91-1996/97
Average

1960-90
1990/911991/921992/931993/941994/951995/961996/97
Prel.
(In thousands of hectares)
Cultivated area
Millet/sorghum1,4232,0221,6851,9942,3772,3802,1371476
Deviation 1/4218406767504
Maize97170186192257284205181
Deviation 1/75929816519317287
Paddy rice159197209196246284303324
Deviation 1/243123547890104
(In millimeters; April-October) 2/
Rainfall
Millet/sorghum720645636649553593525
Deviation 1/-10-12-10-23-18-27
Maize8809401,3461,3821,1481,2081,033
Deviation 1/-7-53-57-30-37-17
Paddy rice557501376425358386399
Deviation 1/-10-33-24-36-31-28
Sources: Data provided by the Malian authorities and staff estimates; and Fund staff estimates.

Deviation in percent from the annual average of the 1960-90 period.

The rainfall is measured for the specific area where each cereal is grown.

Sources: Data provided by the Malian authorities and staff estimates; and Fund staff estimates.

Deviation in percent from the annual average of the 1960-90 period.

The rainfall is measured for the specific area where each cereal is grown.

Table 5.Mali: Quarterly Retail Prices for Cereals, 1990-97 1/(In CFA francs per kilogram)
Millet/SorghumMaizeRice (RM 40)
Annual averages
199090.982.0196.3
199189.081.3207.0
199276.574.3188.3
199381.576.0185.0
199477.375.5218.8
1995109.6114.8258.8
1996151.3139.3266.5
1990
I70.068.0179.0
II80.574.0184.0
III102.091.0202.0
IV111.095.0220.0
1991
I101.091.0220.0
II95.080.0208.0
III80.080.0200.0
IV80.074.0200.0
1992
I75.076.0191.0
II75.075.0189.0
III76.075.0189.0
IV73.071.0184.0
1993
I72.769.3183.0
II78.572.7181.7
III94.387.0188.0
IV81.373.0188.7
1994
I76.072.0195.0
II76.574.0206.0
III78.079.0234.0
IV78.577.0240.0
1995
I88.098.0227.0
II91.5112.0264.0
III132.0127.0274.0
IV127.0122.0270.0
1996
I114.0114.0254.0
II151.0144.0277.0
III184.0172.0285.0
IV156.0127.0250.0
1997
I127.0123.0248.0
II125.0124.0241.0
Source: Data provided by the Malian authorities.

Free market prices represent the average of prices prevailing in the 13 markets of Bamako

Source: Data provided by the Malian authorities.

Free market prices represent the average of prices prevailing in the 13 markets of Bamako

Table 6.Mali: Office du Niger: Indicators of Activity, 1989/90-1996/97
Production
Cultivated landPaddy Rice
RiceHarvestedMarketed by O.N.
(In hectares)(In metric tons)
1989/9044,207125,02556,563
1990/9145,168130,67018,166
1991/9246,034183,41842,418
1992/9344,843208,54127,000
1993/9445,442210,0000.0 1/
1994/9546,740209,9790.0 1/
1995/9650,911238,8030.0 1/
1996/9754,102267,9800.0 1/
Source: Data provided by the Malian authorities.

The marketing of rice by the Office du Niger has stopped since the 1993/94 crop year, following the reform of the institution.

Source: Data provided by the Malian authorities.

The marketing of rice by the Office du Niger has stopped since the 1993/94 crop year, following the reform of the institution.

Table 7.Mali: Implementation of the Public Investment Program, 1991-96 1/(in billions of CFA francs)
199119921993199419951996
Rural development27.629.927.844.153.157.8
Agriculture21.724.922.535.843.145.8
Livestock2.92.32.53.54.35.0
Fisheries0.10.10.00.00.10.1
Forestry2.82.62.84.75.76.9
Secondary sector9.49.16.623.120.926.0
Mines and geology0.50.60.81.10.51.2
Water3.16.13.514.513.416.9
Energy5.22.42.27.36.97.6
Industry and handicrafts0.40.10.00.20.20.3
Tourism0.00.00.00.00.00.0
Infrastructure9.813.117.820.824.232.2
Roads5.27.611.18.913.121.7
Railroads0.11.20.51.60.10.0
Air transport and metereology0.50.90.80.70.60.2
Post and telecommunications2.31.01.21.93.83.4
Surveying and mapping0.00.00.10.00.10.2
Buildings and equipment0.50.92.45.64.65.2
Urban development and housin1.11.41.72.01.71.2
Transport and storage0.00.10.00.00.20.4
Human resources9.110.913.633.839.245.8
Employment1.21.33.04.26.77.1
Education1.74.33.07.69.99.4
Sports, arts, and culture0.30.20.10.40.40.4
Health4.53.54.011.011.813.7
Information0.50.50.61.00.61.1
Administration0.91.12.99.69.914.1
Total55.963.065.8121.8137.4161.9
Source: Data provided by the Malian authorities.

Data may not add up because of rounding.

Source: Data provided by the Malian authorities.

Data may not add up because of rounding.

Table 8.Mali: The 1994 Investment Budget, the 1995-97 Public Investment Program, and Existing Commitments for Public Investment, 1998-2000, 1/2/.(In billions of CFA francs)
19941995199619971998-2000
Existing Commitments
Rural development56.767.165.968.0152.1
Agriculture41.153.552.854.0131.1
Livestock8.87.47.78.011.4
Fisheries0.00.10.10.02.1
Forestry6.86.15.36.07.5
Secondary sector21.727.427.429.4146.1
Mines1.91.41.11.21.6
Water11.712.112.413.048.0
Energy8.013.613.615.095.6
Industry0.00.10.10.11.0
Tourism0.10.10.20.10.0
Infrastructure21.830.134.938.7164.0
Roads10.820.526.228.070.4
Railroads1.82.64.96.29.6
Air transport1.20.80.30.010.0
Post & telecommunication2.62.81.52.09.7
Surveying0.10.10.00.00.3
Buildings3.52.71.72.09.9
Urban development1.80.30.00.049.3
Transport and storage0.00.20.30.54.8
Human resources36.142.736.042.277.3
Employment5.03.63.64.81.1
Education9.09.58.19.025.3
Sports, arts0.40.30.10.40.6
Health11.516.617.820.021.1
Information0.81.01.82.06.9
Administration9.411.54.66.022.2
Total136.4167.3164.2178.3539.7
Financing136.4167.3164.2178.3539.7
External financing112.5140.8137.3144.0443.2
Loans56.074.267.578.0262.0
Grants56.566.669.866.0181.1
Domestic financing23.926.526.934.396.4
Budget17.620.018.624.354.0
Self-financing5.05.26.58.033.1
Other1.21.31.82.09.4
Source: Data provided by the Malian authorities.

Data differ from those included in tables on Government Financial Operations, as an implementation rate of less than 100 percent is assumed in the projections.

Data may not add up because of rounding.

Source: Data provided by the Malian authorities.

Data differ from those included in tables on Government Financial Operations, as an implementation rate of less than 100 percent is assumed in the projections.

Data may not add up because of rounding.

Table 9.Mali: Livestock Exports, Slaughtering, and Herd Size, 1991-95(In thousands of head)
19911992199319941995 1/
CattleSheep and goatsCattleSheep and goatsCattleSheep and goatsCattleSheep and goatsCattleSheep and goats
Exports190410195450205272440738418925
Controlled431645921341128176340107426
Uncontrolled147246136237164144264398311499
Slaughtering42519805552013528195053119125472007
Controlled169336193335185312186306192321
Uncontrolled2561,6443621,6783431,6383451,6063551,686
Estimated herd size (end of period)5,09210,8995,24511,4505,38011,9545,54212,5525,70813,179
Memorandum items:
Net birth rate7113,1179033,0148682,7261,1323,2481,1313,560
Offtake rates (in percent)10.815.612.517.712.015.714.917.414.518.2
Source: Data provided by the Malian authorities.

Provisional data.

Source: Data provided by the Malian authorities.

Provisional data.

Table 10.Mali: Index of Industrial Production, 1991-96
199119921993199419951996
Prel.
(Index: 1983 = 100)
Chemicals and construction materials115.3120.7114.1116.8127.5139.7
Energy and machinery171.0180.0158.6174.7211.8224.9
Food processing124.4150.6130.4134.3133.7142.5
Textiles109.2155.0176.9149.0166.6180.4
Overall index125.0153.6135.3143.6155.9167.4
(Percentage change)
Chemicals and construction materials-20.84.7-5.52.49.29.6
Energy and machinery0.65.3-11.910.221.26.2
Food processing-13.321.1-13.43.0-0.46.6
Textiles-20.441.914.1-15.811.88.3
Overall index-14.022.9-11.96.18.67.4
Source: Data provided by the Malian authorities.
Source: Data provided by the Malian authorities.
Table 11.Mali: Quarterly Index of Consumer Prices in Bamako, 1994-97(Index: July 1986 - June 1987 = 100)
1994199419951995199619961997
IIIIIIIV(Annual)IIIIIIIV(Annual)IIIIIIIV(Annual)III
Food114.2123.7137.1135.2127.6132.1145.2153.5154.1146.2149.6162.2167.2158.5159.4152.9156.7
Clothing114.0119.3127.7129.6122.6137.7147.3148.0152.7146.4156.1158.7157.3157.4157.4156156.2
Housing, water, and energy121.5124.9126.5129.6125.6131.8135.7136.4133.2134.3132.8137.7133.1132.0133.9138.5132.2
Furniture and household articles128.9138.1137.9138.4135.8138.2141.2143.1145.1141.9144.1145.0146.5145.8145.3146.2148.3
Health125.6137.8142.8144.6137.7144.5150.8155.7156.6151.9156.8159.0165.1165.2161.5165.2166.1
Transport and communications128.9146.7151.1153.0139.8153.1154.4154.8154.6154.2154.6154.3154.2154.2154.3154.2154.5
Leisure and entertainment129.7141.5148.3149.5142.3150.9149.6151.0151.5150.8155.6158.1158.1157.6157.3157.6157.9
Other goods and services134.5141.2151.8152.7145.1152.8155.1155.0160.1155.7164.2172.0174.4176.0171.7179.1179.6
Total 1/118.6128.2137.9137.7130.6137.3146.4151.2152.1146.8150.3158.2160.6155.8156.2153.3155
Source: Data provided by the Malian authorities.

Weighted total.

Source: Data provided by the Malian authorities.

Weighted total.

Table 12.Mali: Evolution of Minimum Wages and Salaries in the Public Sector, 1990-96(In CFA francs per month)
1990199119921993199419951996
Mar.Apr.Oct.
Contractual workers
Minimum wage for unskilled agricultural workers (SMAG)11,69018,19018,19018,19019,97021,01521,01521,613
Basic wage8,4408,4408,4408,44010,22011,26511,26511,863
Special allowance1,0001,0001,0001,0001,0001,0001,0001,000
Cost of living allowance2,2502,2502,2502,2502,2502,2502,2502,250
Solidarity allowance06,5006,5006,5006,5006,5006,5006,500
Minimum wage for unskilled workers outside agriculture (SMIG)12,73019,23019,23019,23020,35020,96520,96521,638
Basic wage9,4039,4039,4039,40310,52311,13811,13811,811
Special allowance1,0001,0001,0001,0001,0001,0001,0001,000
Cost of living allowance2,2502,2502,2502,2502,2502,2502,2502,250
Adjustment of March 19807777777777777777
Solidarity allowance06,5006,5006,5006,5006,5006,5006,500
Government employees
Grade 10025,02531,52531,52531,52532,60033,80033,80034,040
Base salary22,52522,52522,52522,52523,60024,80024,80026,040
Housing allowance1,5001,5001,5001,5001,5001,5001,5001,500
Special allowance1,0001,0001,0001,0001,0001,0001,0000
Solidarity allowance06,5006,5006,5006,5006,5006,5006,500
Grade 31669,36871,36871,36871,36878,07681,86881,86885,786
Base salary67,86867,86867,86867,86874,57678,36878,36882,286
Housing allowance1,5001,5001,5001,5001,5001,5001,5001,500
Solidarity allowance02,0002,0002,0002,0002,0002,0002,000
Grade 650141,103143,103143,103143,103156,900164,700164,700172,760
Base salary139,603139,603139,603139,603153,400161,200161,200169,260
Housing allowance1,5001,5001,5001,5001,5001,5001,5001,500
Solidarity allowance02,0002,0002,0002,0002,0002,0002,000
Source: Data provided by the Malian authorities.
Source: Data provided by the Malian authorities.
Table 13.Mali: Evolution of Employment in the Central and Regional Governments and the Public Enterprise Sector, 1991-96(Numbers of Employees)
199119921993199419951996
Central and regional governments45,49838,05236,05532,71932,52736,138
Civil servants36,21233,06331,69029,14129,06731,961
Contractual employees and other9,2864,9894,3653,5783,4604,177
Public enterprises 2/8,4458,1607,9027,6997,0416,228
Source: Data provided by the Malian authorities.

Beginning in 1994, excluding 2,129 employees of semi-public institutions no longer on the civil service payroll.

The public enterprises included here are:

Compagnie Malienne de Navigation (COMANAV),

Energie du Mali (EDM),

Entreprise Malienne de Maintenance (EMAMA),

Office d’Exploitation des Ressources Hydrauliques du Haut Niger (OERHN),

Office National des Postes (ONP),

Office de Radio et Télévision (ORT),

Société d’Equipement du Mali (SEMA),

Société Nationale des Tabacs et Allumettes du Mali (SONATAM),

Usine Malienne de Produits Pharmaceutiques (UMPP).

Source: Data provided by the Malian authorities.

Beginning in 1994, excluding 2,129 employees of semi-public institutions no longer on the civil service payroll.

The public enterprises included here are:

Compagnie Malienne de Navigation (COMANAV),

Energie du Mali (EDM),

Entreprise Malienne de Maintenance (EMAMA),

Office d’Exploitation des Ressources Hydrauliques du Haut Niger (OERHN),

Office National des Postes (ONP),

Office de Radio et Télévision (ORT),

Société d’Equipement du Mali (SEMA),

Société Nationale des Tabacs et Allumettes du Mali (SONATAM),

Usine Malienne de Produits Pharmaceutiques (UMPP).

Table 14.Mali: Operating Results of Major Public Enterprises, 1991-96 1/(In millions of CFA francs; end of period)
EnterpriseActivity199119921993199419951996
Prel.
EDMElectricity and water-1,266.9-126.6-1,453.7710.22,938.7-4,861.7
SONATAMTobacco and matches-273.6209.452.079.575.459.0
OERHNDam on the Niger River-425.7899.51,531.0-95.12/3/
PPMPharmaceutical sales594.6201.855.5-85.3-95.465.9
SEMAPublic works-93.9-75.821.785.228.5124.1
EMAMAMaintenance-82.8-83.6-39.4-51.3-37.01.0
ITEMATextiles-764.7-854.0-958.4-4,093.158.0-426.7
COMATEXTextiles0.0 3/0.0 3/0.0 3/-13.5735.22/
COMANAVInland water transport-449.5-222.3-488.0-404.5-196.359.0
RCFMRailways-1,359.3-73.6-239.044.5325.9453.6
ONPPostal services449.1-370.8-253.8-158.1-357.8-121.1
UMPPPharmaceutical products193.5217.4141.8495.4236.5104.5
ORTHotels-652.9-478.9-286.42.115.51.7
SOTELMATelecommunications Services1,658.7219.71,098.52,844.76,200.510,228.0
Sources: Data provided by the Malian authorities; and Fund staff estimates.

The list of the acronyms of the enterprises is given in Appendix II.

Data not available

Activity interrupted.

Sources: Data provided by the Malian authorities; and Fund staff estimates.

The list of the acronyms of the enterprises is given in Appendix II.

Data not available

Activity interrupted.

Table 15.Mali: Consolidated Government Operations, 1991-96 1/
199119921993199419951996
(In billions of CFA francs)
Revenue and grants165.8154.3146.7236.7269.7313.3
Revenue109.6100.7104.7138.9177.3216.8
Budgetary revenue96.389.194.0126.0160.7195.9
Tax revenue82.478.183.7103.2131.5172.8
Nontax revenue13.911.010.322.829.223.1
Special funds and annexed budgets13.311.610.712.916.620.9
Grants56.253.642.097.892.496.5
Expenditure192.3183.4177.3280.1306.4324.7
Budgetary expenditure169.8161.8161.2268.4291.9304.0
Current expenditure82.086.088.1103.899.5137.1
Personnel42.441.540.944.548.050.6
Scholarships4.55.04.84.23.94.3
Interests 2/12.213.412.223.917.614.5
Other expenditure22.926.130.231.230.030.8
Development, PESAP, VDP, and NP 3/87.875.873.1136.3157.2166.9
Development expenditure69.565.567.5128.7152.1161.7
Externally financed64.560.058.5115.0133.5137.4
Loans31.229.028.560.070.567.5
Grants33.331.030.055.063.069.8
Domestically financed5.05.59.013.718.624.3
PESAP and public enterprise reform13.26.02.85.12.32.5
Voluntary departure program (VDP)5.14.31.40.80.30.0
National Pact (NP)0.00.01.41.72.42.7
Special funds and annexed budgets11.811.010.511.714.520.7
Extrabudgetary expenditure2.38.95.60.00.00.0
Reconstruction expenditure8.41.70.00.00.00.0
Deficit (commitment basis)-26.5-29.1-30.6-43.4-36.6-11.3
Changes in payments arrears0.72.48.6-29.7-10.1-18.0
Domestic payments arrears-0.4-1.33.6-9.9-10.1-18.0
External payments arrears1.13.75.0-19.80.00.0
Adjustment (cash basis)-4.32.5-0.50.0-3.9-1.0
Deficit (cash basis)-30.1-24.2-22.5-73.1-50.7-30.3
Financing (net)30.124.222.573.150.730.3
External financing42.332.825.576.790.982.1
Loans (gross)49.338.730.391.7110.1102.1
Amortization 2/-30.9-35.3-35.4-66.9-64.0-60.9
Debt rescheduling0.73.05.87.12.32.0
Debt relief from debt cancellation 4/0.00.00.02.32.00.0
Debt moratoria and debt under negotiation23.226.424.842.540.538.9
Domestic financing-12.1-8.6-3.0-3.6-40.2-51.8
Banking system-10.8-5.4-1.3-4.5-39.6-46.0
Other-1.3-3.2-1.70.9-0.6-5.8
Financing gap0.00.00.00.00.00.0
(In percent of GDP, unless otherwise indicated)
Deficit (commitment basis)
Excluding grants-12.1-11.0-9.6-13.7-10.5-7.9
Including grants-3.9-3.9-4.1-4.2-3.0-0.8
Deficit (cash basis)
Excluding grants-12.7-10.3-8.5-16.4-11.6-9.3
Including grants-4.4-3.2-3.0-7.0-4.1-2.2
Memorandum item:
Military spending (CFAF billion) 5/13.515.915.720.724.725.3
Sources: Data provided by the Malian authorities; and Fund staff estimates.

Data may not add up because of rounding.

Scheduled; after debt cancellation obtained through 1993.

PESAP, Public Enterprise Sector Adjustment Program, financed by the World Bank and cofinanciers.

Based on the ODA debt cancellation obtained in 1994.

Expenditure by the Ministry of National Defense.

Sources: Data provided by the Malian authorities; and Fund staff estimates.

Data may not add up because of rounding.

Scheduled; after debt cancellation obtained through 1993.

PESAP, Public Enterprise Sector Adjustment Program, financed by the World Bank and cofinanciers.

Based on the ODA debt cancellation obtained in 1994.

Expenditure by the Ministry of National Defense.

Table 16.Mali: Government Revenue, 1991-96 1/(In billions of CFA francs)
199119921993199419951996
Taxes on net income and profits12.012.311.616.226.634.8
Enterprises5.25.34.85.710.819.8
Of which: public enterprise0.91.00.71.30.80.1
private enterprise4.34.34.14.410.019.7
Individuals5.45.65.48.614.212.8
Tax on transporters0.80.80.71.10.61.0
Rental income tax0.50.60.70.81.01.2
Payroll tax2.02.12.12.62.53.7
Property taxes1.41.63.12.63.46.2
Taxes on goods and services12.812.112.415.017.025.3
Value-added tax 2/8.98.99.211.813.822.6
Of which: public enterprises1.91.72.62.74.52.9
private enterprises7.17.26.69.19.319.7
Excise duties 3/1.31.31.01.71.40.7
Other2.51.82.21.51.82.0
Taxes on international trade45.143.247.455.173.094.7
Customs duties 3/2.52.52.62.76.37.6
Other import charges 3/16.614.816.617.225.932.8
Value-added tax on imports 2/11.110.811.513.320.831.6
Petroleum import duties 3/12.013.414.519.217.319.9
Payment of deferred taxes0.40.21.01.30.71.2
Export duty 4/0.10.00.00.00.10.1
Other2.31.41.21.41.91.5
Other tax revenue9.06.97.111.89.010.3
Poll tax2.31.70.80.00.00.0
Stamp duties2.22.32.13.64.85.3
Payment of tax arrears3.82.23.46.52.82.1
Other taxes0.70.70.81.71.42.9
Miscellaneous or unclassified tax revenue0.10.00.00.00.00.0
Tax revenue82.478.183.7103.2131.5175.1
Nontax revenue12.610.110.320.021.921.5
Capital revenue1.30.92.77.30.0
Budgetary revenue96.389.194.0126.0160.7196.6
Special funds and annexed budgets13.311.610.712.916.620.9
Total revenue109.6100.7104.7138.9177.3217.5
Source: Data provided by the Malian authorities.

Data may not add up because of rounding.

Introduced in 1990 and replaced turnover tax.

Beginning in 1991, tax revenues included in this category, which were previously earmarked for special funds, have been consolidated in the budget.

Customs service fee on gold exports.

Source: Data provided by the Malian authorities.

Data may not add up because of rounding.

Introduced in 1990 and replaced turnover tax.

Beginning in 1991, tax revenues included in this category, which were previously earmarked for special funds, have been consolidated in the budget.

Customs service fee on gold exports.

Table 17.Mali: Government Revenue Performance, 1991-96 1/
199119921993199419951996
(In billions of CFA francs)
Taxes on net income and profits12.012.311.616.226.634.8
Taxes on goods and services12.812.112.415.017.025.3
Payroll tax2.02.12.12.62.53.7
Property taxes1.41.63.12.63.46.2
Taxes on international trade45.143.247.455.173.094.7
Other tax revenue9.06.97.111.89.010.3
Miscellaneous or unclassified tax revenue0.10.00.00.00.00.0
Tax revenue82.478.183.7103.2131.5175.1
Nontax revenue13.911.010.322.829.221.5
Budgetary revenue96.389.194.0126.0160.7196.6
Special funds and annexed budgets13.311.610.712.916.620.9
Total revenue109.6100.7104.7138.9177.3217.5
(Annual percentage change)
Taxes on net income and profits-1.62.5-5.739.764.230.8
Taxes on goods and services13.3-5.52.521.013.348.8
Taxes on international trade46.9-4.29.716.232.533.8
Other tax revenue-9.1-23.32.966.212.414.4
Tax revenue25.0-5.27.223.327.433.1
Nontax revenue52.7-20.9-6.4121.428.126.4
Budgetary revenue28.4-7.55.534.027.522.3
Special funds and annexed budgets-67.6-12.8-7.820.628.725.9
Total revenue-5.6-8.14.032.727.622.7
(In percent of budgetary revenue)
Taxes on net income and profits12.513.812.312.916.617.7
Taxes on goods and services13.313.613.211.910.612.8
Taxes on international trade46.848.550.443.745.448.2
Other tax revenue9.37.77.69.49.25.2
Tax revenue85.687.789.081.981.889.1
Nontax revenue14.412.311.018.118.210.9
(In percent of total government revenue)
Budgetary revenue87.988.589.890.790.690.4
Special funds and annexed budgets12.111.510.29.39.49.6
(In percent of GDP)
Taxes on net income and profits1.81.61.51.62.22.6
Taxes on goods and services1.91.61.61.41.41.9
Taxes on international trade6.65.76.35.35.97.0
Other tax revenue1.30.90.91.11.20.8
Tax revenue12.110.411.110.010.712.9
Nontax revenue2.01.51.42.22.41.6
Budgetary revenue14.111.812.412.113.114.4
Special funds and annexed budgets1.91.51.41.21.31.5
Total revenue16.113.413.913.514.416.0
Sources: Data provided by the Malian authorities; and Fund staff estimates.

Data may not add up because of rounding.

Sources: Data provided by the Malian authorities; and Fund staff estimates.

Data may not add up because of rounding.

Table 18.Mali: Government Expenditure, 1991-96 1/
199119921993199419951996
(In billions of CFA francs)
Expenditure192.3183.4177.3280.1306.4324.7
Budgetary expenditure169.8161.8161.2268.4291.9304.0
Current expenditure82.086.088.1132.1134.7137.1
Personnel42.441.540.944.548.050.6
Supplies6.48.18.814.218.620.1
Scholarships4.55.04.84.23.94.3
Interest 2/12.213.412.223.917.614.5
Other expenditure16.518.021.445.346.647.6
Development, PESAP, VDP, and NP 3/87.875.873.1136.3157.2166.9
Development expenditure69.565.567.5128.7152.1161.7
Externally financed64.560.058.5115.0133.5137.4
Equipment and investment5.05.59.013.718.624.3
PESAP13.26.02.85.12.32.5
Voluntary departure program (VDP)5.14.31.40.80.30.0
National Pact (NP)0.00.01.41.72.42.7
Special funds and annexed budgets11.811.010.511.714.520.7
Extrabudgetary expenditure2.38.95.60.00.00.0
Reconstruction expenditure8.41.70.00.00.00.0
(Annual percentage change)
Expenditure10.7-4.6-3.358.09.45.9
Budgetary expenditure24.9-4.7-0.466.58.84.1
Current expenditure23.34.92.449.92.01.8
Personnel11.0-2.1-1.48.87.95.4
Supplies-13.526.68.661.431.08.0
Scholarships40.611.1-4.0-12.5-7.110.3
Other expenditure-6.89.118.9111.72.92.1
Development, PESAP, VDP, and NP 3/26.3-13.7-3.686.515.36.2
Development expenditure12.3-5.83.190.718.26.3
Externally financed12.2-7.0-2.596.616.12.9
Equipment and investment13.610.063.652.235.830.6
Special funds and annexed budgets-65.3-6.8-4.511.423.942.7
Extrabudgetary expenditure-37.8287.0-37.1-100.00.00.0
(In percent of total budgetary expenditures)
Current expenditure48.353.254.749.246.145.1
Personnel25.025.625.416.616.416.6
Supplies3.85.05.55.36.46.6
Scholarships2.73.13.01.61.31.4
Other expenditure9.711.113.316.916.015.6
Development, PESAP, VDP, and NP 3/51.746.845.350.853.954.9
Development expenditure40.940.541.948.052.153.2
Externally financed38.037.136.342.845.745.2
Equipment and investment2.93.45.65.16.47.9
PESAP, VDP, and NP10.86.43.52.81.81.7
(In percent of total expenditure)
Budgetary expenditure88.388.290.995.895.393.6
Special funds and annexed budgets6.16.05.94.24.76.4
Extrabudgetary expenditure1.24.93.20.00.00.0
Reconstruction expenditure4.40.90.00.00.00.0
(In percent of GDP)
Expenditure28.224.323.527.224.923.9
Budgetary expenditure24.921.521.325.823.722.3
Current expenditure12.011.411.712.710.910.1
Personnel6.25.55.44.33.93.7
Supplies0.91.11.21.41.51.5
Scholarships0.70.70.60.40.30.3
Other expenditure2.42.42.84.43.83.5
Development, PESAP, VDP, and NP 3/12.910.19.713.112.812.3
Development expenditure10.28.78.912.412.411.9
Externally financed9.58.07.711.110.810.1
Equipment and investment0.70.71.21.31.51.8
PESAP, VDP, and NP2.71.40.70.70.40.2
Special funds and annexed budgets1.71.51.41.11.21.5
Extrabudgetary expenditure0.31.20.70.00.00.0
Reconstruction expenditure1.20.20.00.00.00.0
Sources: Data provided by the Malian authorities; and Fund staff estimates.

Data may not add up because of rounding.

Scheduled; after debt cancellation obtained through 1993.

PESAP, Public Enterprise Sector Adjustment Program, financed by the World Bank and cofinanciers.

Sources: Data provided by the Malian authorities; and Fund staff estimates.

Data may not add up because of rounding.

Scheduled; after debt cancellation obtained through 1993.

PESAP, Public Enterprise Sector Adjustment Program, financed by the World Bank and cofinanciers.

Table 19.Mali: Consolidated Operations of the Special Funds and the Annexed Budgets, 1991-96(In billions of CFA francs)
199119921993199419951996
Revenue13.311.610.712.916.620.9
OSRP 1/3.30.00.00.00.00.0
Social Security Fund (INPS8.710.29.711.815.019.1
Other revenue 2/1.31.41.01.11.61.8
Expenditure and net lending11.811.010.511.714.520.7
OSRP 1/3.10.00.00.00.00.0
Social Security Fund (INPS7.29.59.510.612.918.9
Other expenditure 2/1.51.51.01.11.61.8
Surplus/Deficit1.50.60.21.22.10.2
Source: Data provided by the Malian authorities.

OSRP, Office de Stabilisation et de Régulation des Prix.

Includes the National Housing Fund (FNL), the Central Veterinary Laboratory (LCV), the National Lottery (LONAMA), and the National Institute of Research in Public Health (INRSP).

Source: Data provided by the Malian authorities.

OSRP, Office de Stabilisation et de Régulation des Prix.

Includes the National Housing Fund (FNL), the Central Veterinary Laboratory (LCV), the National Lottery (LONAMA), and the National Institute of Research in Public Health (INRSP).

Table 20.Mali: Government Wage Bill and Employees, 1991-97
199119921993199419951996
Wage bill
(in billions of CFA francs)42.441.540.944.54850.6
Annual change in wage bill
(in percent)11-2.1-1.48.87.95.4
Wage bill
(in percent of current budgetary expenditure)51.748.346.433.735.636.9
Wage bill
(in percent of total budgetary expenditure)2525.625.416.616.415.6
Wage bill6.25.55.44.33.93.7
(in percent of GDP)
Total government employees as of end-December45,49838,05236,05532,71932,52736,138
Of which: civil servants36,21233,06331,69029,14129,06731,961
Annual change in total government employees
(in percent)-8.2-16.4-5.2-9.3-0.611.1
Source: Data provided by the Malian authorities.
Source: Data provided by the Malian authorities.
Table 21.Mali: Deposit Money Banks in December 1996
ShareholdersYear establishedCapital (In millions of CFA francs)DepositsNumber of branches
(Percent of total holdings)PublicPrivateTotal
(In millions of CFA francs)
Banque de Développement du Mali (BDM-SA) 1/Government20.019683,00050,17831,33181,50913
BCEAO20.0
BOAD20.0
Private national shareholders23.3
Moroccan bank16.7
Banque Nationale de Développement Agricole (BNDA)Government39.519818,3619,34117,59226,93321
BCEAO16.8
Caisse Française de Développement (France)19.6
Deutsche Entwicklungs Gesellschaft (Fed. Rep. of Germany)18.5
BDM-SA5.6
Banque Internationale du Mali (BIM-SA) 2/Etat61.519804,254364052,57756,2177
Private national shareholders38.5
Banque Malienne de Crédit et de Dépôts (BMCD)Government100.019611,0003,28346,73550,0186
Bank of Africa-Mali (BOA)Private national shareholders76.919821,4001,87530,95032,8255
Private foreign shareholders23.1
Banque Commerciale du Sahel (BCS; ex-BALIMA)Government49.519821,100264811,14613,7941
Foreign Arab banks50.0
Private national shareholders0.5
Banque de l’Habitat du Mali (BHM)3/Government14.8199113505696,5437,1121
INPS37.1
ACI 4/25.9
BIM-SA7.4
private national shareholders14.8
Source: Data provided by the BCEAO.

Restructured into a societe anonyme on June 30, 1989.

Formerly the Banque Internationale pour I’Afrique Occidentale au Mali (BIAO-Mali)

Was changed to a Bank from the ‘Societe des Cheques Postaux et de la Caisse d’Epargne (SCPCE)’ in March 1996.

Agence cession Immobilière.

Source: Data provided by the BCEAO.

Restructured into a societe anonyme on June 30, 1989.

Formerly the Banque Internationale pour I’Afrique Occidentale au Mali (BIAO-Mali)

Was changed to a Bank from the ‘Societe des Cheques Postaux et de la Caisse d’Epargne (SCPCE)’ in March 1996.

Agence cession Immobilière.

Table 22.Mali: Monetary Survey, 1991-96 1/
199119921993199419951996
Dec.Dec. adj. 2/Mar.JuneSept.Dec.
(In billions of CFA francs; end of period)
Foreign assets (net) 3/65.467.876.862.1110.3147.4183.7200.2195.4212.7
BCEAO61.563.475.860.052.781.0117.4144.3135.0143.8
Deposit money banks3.94.41.02.157.666.466.356.060.468.9
Net domestic assets95.095.699.3119.2138.8146.1152.1122.8124.7116.0
Of which: BCEAO 4/69.868.468.187.967.350.742.226.214.210.8
Credit to the government (net)23.420.728.348.149.216.6-0.4-11.4-15.9-23.7
Central bank 5/54.655.259.379.263.153.444.035.123.826.7
Commercial banks-30.1-33.8-29.5-29.5-11.8-35.2-43.2-44.6-37.8-48.4
Other-1.0-0.7-1.5-1.5-2.1-1.5-1.2-1.9-2.0-2.0
Credit to the economy63.368.771.471.483.1132.6161.7163.3159.7171.2
Crop credit7.58.25.25.20.44.620.422.67.52.9
Ordinary credit55.860.566.266.282.7128.0141.3140.7152.2168.3
Other items (net) 6/8.36.1-0.4-0.46.5-3.1-9.2-29.1-19.1-31.4
Central bank15.213.18.78.74.2-2.6-1.8-8.8-9.7-16.0
Commercial banks-6.9-7.0-9.1-9.12.4-0.5-7.4-20.3-9.4-15.5
Medium- and long-term external liabilities-8.4-6.2-5.7-9.8-11.1-8.9-8.7-8.5-8.3-10.3
Revaluation account0.00.00.01.11.11.11.11.11.11.1
BCEAO0.00.00.04.14.14.14.14.14.14.1
Deposit money banks0.00.00.0-3.0-3.0-3.0-3.0-3.0-3.0-3.0
Money supply (M2)152.0157.2170.4170.4237.0283.5326.0313.4310.7317.3
Currency in circulation59.260.965.165.190.4107.4121.5128.2116.1120.4
Bank deposits92.896.3105.3105.3146.6176.2204.5185.2194.6196.9
(Percentage change in relation to beginning-of-year money stock)
Foreign assets (net) 3/28.51.65.756.228.315.712.818.616.923.0
BCEAO23.61.37.957.7-4.311.912.822.319.022.2
Deposit money banks4.90.3-2.2-1.532.63.70.0-3.7-2.10.9
Net domestic assets-15.40.42.415.011.53.12.1-8.2-7.5-10.6
Credit to the Government (net)-4.6-1.84.817.40.6-13.8-6.0-9.9-11.5-14.2
Central bank 5/4.10.52.615.2-9.4-4.1-3.3-6.5-10.4-9.4
Commercial banks-5.0-2.42.72.710.4-9.9-2.8-3.3-0.9-4.7
Other-3.70.2-0.5-0.5-0.30.30.1-0.1-0.2-0.2
Credit to the economy 7/4.68.53.93.916.459.629.1
Crop credit 7/0.20.4-1.8-1.8-2.81050.0-37.0
Ordinary credit 7/4.78.49.49.424.954.831.5
Other items (net) 6/-12.9-1.4-4.2-4.24.1-4.1-2.2-9.2-5.6-10.0
Medium- and long-term external liabilities-0.51.40.3-2.3-0.80.90.10.10.2-0.5
Money supply12.53.48.48.439.119.625.520.717.014.3
Currency in circulation9.11.12.72.714.87.210.613.69.25.5
Bank deposits6.62.35.85.824.212.514.97.17.88.7
Memorandum items:
Velocity of M24.54.74.44.44.34.34.3
Nominal GDP (CFAF billions)682.1727.2755.1755.11028.71231.31360.7
Sources: Data provided by the BCEAO; and Fund staff estimates.

Data may not add up because of rounding. Including transactions and reclassifications resulting from the restructuring of the Banque de Développement du Mali and reclassification of deposits resulting from other bank audits. Data are not comparable with the previous RED tables for 1990 as these were adjusted to a 1987 accounting base to provide comparability with previous years.

Accounts revalued at the new exchange rate of CFAF 100 per French franc.

Excluding SDR allocations and medium- and long-term liabilities.

Defined as base money minus net foreign assets.

Including SDR/CFA franc exchange rate revaluation on pre-June 1984 Fund purchases. Including the stabilization for the cotton sector and, before December 1994, the consolidation of debit balances of BDM at the BCEAO. For December 1994, these claims are included in credit to the government from commercial banks.

Including nonstatutory advance to the Treasury resulting from the consolidation of the former Central Bank’s debt of CFAF 41.8 billion, including interest thereon.

Annual percentage change.

Sources: Data provided by the BCEAO; and Fund staff estimates.

Data may not add up because of rounding. Including transactions and reclassifications resulting from the restructuring of the Banque de Développement du Mali and reclassification of deposits resulting from other bank audits. Data are not comparable with the previous RED tables for 1990 as these were adjusted to a 1987 accounting base to provide comparability with previous years.

Accounts revalued at the new exchange rate of CFAF 100 per French franc.

Excluding SDR allocations and medium- and long-term liabilities.

Defined as base money minus net foreign assets.

Including SDR/CFA franc exchange rate revaluation on pre-June 1984 Fund purchases. Including the stabilization for the cotton sector and, before December 1994, the consolidation of debit balances of BDM at the BCEAO. For December 1994, these claims are included in credit to the government from commercial banks.

Including nonstatutory advance to the Treasury resulting from the consolidation of the former Central Bank’s debt of CFAF 41.8 billion, including interest thereon.

Annual percentage change.

Table 23.Mali: Summary Accounts of the Central Bank, 1991-96 1/(In billions of CFA francs; end of period)
199119921993199419951996
Act.Act. adj. 2/
Foreign assets (net)61.563.475.860.052.781.0143.8
Assets82.984.897.8101.5118.6158.6233.1
Liabilities 3/-21.4-21.4-22.0-41.5-65.9-77.7-89.3
Net domestic assets69.868.468.187.967.350.710.8
Claims on the government (net)54.655.259.379.263.153.426.7
Claims58.461.164.984.775.880.590.3
Consolidated claims 4/23.923.923.923.90.04.73.0
Liabilities 5/-3.8-5.9-5.5-5.5-12.8-27.1-63.6
Other items (net)15.213.18.78.74.2-2.6-16.0
Claims on deposit money banks (net)-72.0-70.8-78.7-78.7-25.5-20.2-30.0
Claims0.00.00.00.00.00.00.0
Advances to money market0.00.00.00.00.00.00.0
Rediscounts and other advances0.00.00.00.00.00.00.0
Liabilities72.070.878.778.725.520.230.0
Deposits in money market68.268.057.157.13.72.40.0
Other deposits0.70.418.418.414.510.919.4
Currency held by banks3.12.43.23.27.36.910.6
Revaluation account0.00.00.04.14.14.14.1
Currency outside banks59.260.965.165.190.4107.4120.4
Sources: Data provided by the BCEAO; and Fund staff estimates.

Data may not add up because of rounding.

Accounts revalued at the new exchange rate of CFAF 100 per French franc.

Excluding SDR counterpart.

These claims were securitized and sold to Malian commercial banks in 1994.

Including cash held by the Treasury.

Sources: Data provided by the BCEAO; and Fund staff estimates.

Data may not add up because of rounding.

Accounts revalued at the new exchange rate of CFAF 100 per French franc.

Excluding SDR counterpart.

These claims were securitized and sold to Malian commercial banks in 1994.

Including cash held by the Treasury.

Table 24.Mali: Summary Accounts of the Deposit Money Banks, 1991-96 1/2/(In billions of CFA francs; end of period)
199119921993199419951996
Act.Act. adj. 3/
Foreign assets (net)3.94.41.02.157.666.468.9
Assets15.811.17.814.265.674.875.8
Liabilities (short-term)-11.9-6.7-6.8-12.1-8.0-8.4-6.9
Net domestic assets
Claims on the government (net)-30.1-33.8-29.5-29.5-11.8-35.2-48.4
Claims2.63.43.43.428.019.023.1
Deposits-32.7.-37.2-33.0-33.0-39.9-54.3-71.5
Credit to the private sector 4/62.368.069.969.981.0131.1169.1
Crop credit7.58.25.25.20.44.62.9
Other54.859.864.764.780.6126.5166.2
Other items (net)-6.7-7.0-9.1-9.12.4-0.5-15.5
Reserves71.870.679.479.426.120.230.0
Money market position (net)67.768.057.157.13.72.40.0
Deposits67.768.057.157.13.72.40.0
Advances0.00.00.00.00.00.00.0
Other reserves4.12.622.322.322.417.830.0
Currency holdings3.12.43.23.27.36.910.6
Deposits at central bank1.00.219.119.115.110.919.4
Medium- and long-term external liabilities-8.4-6.2-5.7-9.8-11.1-8.9-10.3
Revaluation account0.00.00.0-3.0-3.0-3.0-3.0
Deposits92.896.3105.3105.3146.6176.2196.9
Demand47.447.452.752.783.7100.0119.4
Of which: public enterprises9.87.05.75.79.07.07.0
Time45.448.952.652.662.976.277.5
Of which: public enterprises1.72.03.13.15.38.36.3
Sources: Data provided by the BCEAO; and Fund staff estimates.

Data may not add up because of rounding.

Including transactions and adjustments resulting from the restructuring of the Banque de Développement du Mali, and reclassifications of deposits resulting from other bank audits.

Accounts revalued at the new exchange rate of CFAF 100 per French franc.

Does not match the credit to the private sector shown in table 22 due to a different classification of collateralized bonds.

Sources: Data provided by the BCEAO; and Fund staff estimates.

Data may not add up because of rounding.

Including transactions and adjustments resulting from the restructuring of the Banque de Développement du Mali, and reclassifications of deposits resulting from other bank audits.

Accounts revalued at the new exchange rate of CFAF 100 per French franc.

Does not match the credit to the private sector shown in table 22 due to a different classification of collateralized bonds.

Table 25.Mali: Claims on the Government, 1991-96 1/2/(In billions of CFA francs; end of period)
199119921993199419951996
Act.Act. adj. 3/
Central bank, net claims54.655.259.379.263.153.426.7
Claims58.461.164.984.775.880.590.3
Treasury overdraft17.818.821.121.118.40.00.0
Trust Fund on-lent0.00.00.00.00.00.00.0
IMF credit on-lent16.718.519.839.757.475.887.3
Consolidated claims 4/23.923.923.923.90.04.73.0
Liabilities3.85.95.55.512.827.163.6
Treasury currency holdings2.01.03.03.03.05.26.6
Government deposits1.84.92.52.59.821.957.0
Deposit money banks, net claims-30.1-33.8-29.5-29.5-11.8-35.2-48.4
Claims 4/2.63.43.43.428.019.023.1
Liabilities32.737.133.033.039.854.371.5
Counterparts-1.0-0.7-1.5-1.5-2.1-1.5-2.0
Customs duty bills held by the Treasury1.00.71.51.52.11.52.0
Net claims on the government23.420.728.348.149.216.6-23.7
Of which: banking system 5/23.420.728.348.149.216.6-23.7
Sources: Data provided by the BCEAO; and Fund staff estimates.

Data may not add up because of rounding.

Including transactions and adjustments resulting from the restructuring of the BDM, and reclassifications of deposits resulting from other bank audits.

Accounts revalued at the new exchange rate of CFAF 100 per French franc.

Up to end-1993, the consolidated debit balances of the BDM at the BCEAO are included in claims of the central bank on the government. These claims were securitized in 1994 and for 1994 are included in claims of the deposit money banks on the government.

Includes the cotton stabilization fund.

Sources: Data provided by the BCEAO; and Fund staff estimates.

Data may not add up because of rounding.

Including transactions and adjustments resulting from the restructuring of the BDM, and reclassifications of deposits resulting from other bank audits.

Accounts revalued at the new exchange rate of CFAF 100 per French franc.

Up to end-1993, the consolidated debit balances of the BDM at the BCEAO are included in claims of the central bank on the government. These claims were securitized in 1994 and for 1994 are included in claims of the deposit money banks on the government.

Includes the cotton stabilization fund.

Table 26.Mali: Foreign Assets and Liabilities of the Banking System, 1991-96 1/(In billions of CFA francs; end of period)
199119921993199419951996
Act.Act. adj. 2/
Banking system (net) 3/57.061.571.152.399.2138.5202.4
Foreign assets98.795.9105.5115.7184.2238.5304.7
Foreign liabilities41.734.434.463.485.0100.1102.3
Central bank (net)61.563.475.860.052.781.0143.8
Foreign assets82.984.897.8101.5118.6158.6233.1
Foreign exchange79.481.594.494.8111.4151.4226.3
Special drawing rights0.10.00.00.10.10.20.2
Reserve position in the Fund3.43.33.36.67.17.06.6
Foreign liabilities21.421.422.041.565.977.789.3
Use of Fund resources16.518.219.539.060.076.684.3
Trust Fund0.00.00.00.00.00.00.0
Other4.93.22.52.55.91.15.0
Deposit money banks (net) 3/-4.5-1.9-4.7-7.746.557.558.6
Foreign assets15.811.17.814.265.674.875.8
Foreign liabilities 3/20.313.012.421.919.117.317.2
Short-term11.96.76.812.18.08.46.9
Medium- and long-term8.46.25.79.811.18.910.3
Sources Data provided by the BCEAO; and Fund staff estimates.

Data may not add up because of rounding.

Accounts revalued at the new exchange rate of CFAF 100 per French franc.

Differs from net foreign assets in Tables 22 and 24, which exclude medium- and long-term foreign liabilities.

Sources Data provided by the BCEAO; and Fund staff estimates.

Data may not add up because of rounding.

Accounts revalued at the new exchange rate of CFAF 100 per French franc.

Differs from net foreign assets in Tables 22 and 24, which exclude medium- and long-term foreign liabilities.

Table 27.Mali: Interest Rates, 1993-96(In percent per year)
April 26, 1993-Sept 30, 1993Oct. 1, 1993-Dec. 19, 1993Dec. 20, 1993-Jan. 17, 1994Jan. 18, 1994-June 26, 1994June 27, 1994-July 31, 1994Aug 1, 1994-Aug 31, 1994Sept 1, 1994-Jan. 22, 1995Jan 23, 1995-June 4, 1995June 5, 1995-Dec. 25, 1995Dec. 26, 1995-Aug. 4, 1996Aug. 5, 1996-Aug. 18, 1996Aug. 19, 1996 to date
Central bank
Discount rate12.512.510.514.512111098.57.57.257
Money market advances 1/11.225-10.22510.225-7.357.25-8.008.00-9.258.00-6.506.25-5.755.75-5.05.55.5-5.756.0-5.05.0-4.754
Lending rates
Crop financing and agricultural export credit17.5 maxfreefreefreefreefreefreefreefreefreefreefree
Public enterprises17.5 maxfreefreefreefreefreefreefreefreefreefreefree
Private enterprises17.5 maxfreefreefreefreefreefreefreefreefreefreefree
Deposit rates Sight 2/freefreefreefreefreefreefreefreefreefreefreefree
Savings deposits8.54.54.588.00-5.00554.54.54.5-3.53.53.5
Time deposits 3/
Less than six months8.5TMM-2% 4/TMM-2%TMM-2%TMM-2%TMM-2%TMM-2%TMM-2%TMM-2%TMM-2%TMM-2%TMM-2%
Six months-one year9.5TMM-2%TMM-2%TMM-2%TMM-2%TMM-2%TMM-2%TMM-2%TMM-2%TMM-2%TMM-2%TMM-2%
Over one year10.5freefreefreefreefreefreefreefreefreefreefree
Source: Data provided by the BCEAO.

Until October 14, 1993, these rates were for overnight advances; on that date, the money market was transformed into a weekly auction.

Since January 1, 1985, deposit money banks have no longer been required to remunerate sight deposits.

Minimum rates for deposits above CFAF 2 million; from October 2, 1989, minimum rates for deposits above CFAF 500,000. Since October 1, 1993, minimum rates for deposits equal or less than CFAF 5 million: rates on larger deposits are free.

Average monthly money market rate minus 2 percent.

Source: Data provided by the BCEAO.

Until October 14, 1993, these rates were for overnight advances; on that date, the money market was transformed into a weekly auction.

Since January 1, 1985, deposit money banks have no longer been required to remunerate sight deposits.

Minimum rates for deposits above CFAF 2 million; from October 2, 1989, minimum rates for deposits above CFAF 500,000. Since October 1, 1993, minimum rates for deposits equal or less than CFAF 5 million: rates on larger deposits are free.

Average monthly money market rate minus 2 percent.

Table 28.Mali: Rediscount Rates Applied by the Central Bank, 1989-97 1/(In percent per year)
Normal discount rate 2/Preferantial discount rate 3/Discount rate 4/
March 30, 198910.009.00
October 2, 1989abolishedabolished10.50
November 27, 198911.00
August 20, 199213.00
November 9, 199212.50
December 20, 199310.50
January 18, 199414.50
June 27, 199412.00
August 1, 199411.00
September 1, 199410.00
January 23, 19959.00
June 5, 19958.50
December 26, 19957.50
August 5, 19967.25
August 19, 19967.00
September 2, 19967.25
September 16, 19967.00
October 21, 19966.50
February 17, 19976.25
September 8, 19976.00
Source: Information provided by the BCEAO.

Rates applied to short-term credit of 1 year or less and to medium-term credit of up to 10 years, and 15 years since October 1, 1989. The BCEAO will also rediscount long-term credit which at the time of rediscounting, has no more than 15 years to maturity.

Applied also to advances against government and private paper, to rediscount of customs duty bills, and to repurchase agreements (prise en pension).

Applied to crop credit, credit to the government and local authoroties, small national enterprises with with total credit outstanding not exceeding CFAF 30 million, and nationals for the borrower’s first primary residence (maximum CFA million with maturities shorter than ten years). Also applied overdrafts by the Treasury.

The central bank’s discount rate will remain above the rates applied in the money market. A special rate, equal to the money market rate minus 1 percentage point, applies to the statutory advances to the government under Article 16 of the Statutes of the BCEAO. The special rate is a quaterly average, calculated by BCEAO headquarters and communicated on a quaterly basis to the national agencies.

Source: Information provided by the BCEAO.

Rates applied to short-term credit of 1 year or less and to medium-term credit of up to 10 years, and 15 years since October 1, 1989. The BCEAO will also rediscount long-term credit which at the time of rediscounting, has no more than 15 years to maturity.

Applied also to advances against government and private paper, to rediscount of customs duty bills, and to repurchase agreements (prise en pension).

Applied to crop credit, credit to the government and local authoroties, small national enterprises with with total credit outstanding not exceeding CFAF 30 million, and nationals for the borrower’s first primary residence (maximum CFA million with maturities shorter than ten years). Also applied overdrafts by the Treasury.

The central bank’s discount rate will remain above the rates applied in the money market. A special rate, equal to the money market rate minus 1 percentage point, applies to the statutory advances to the government under Article 16 of the Statutes of the BCEAO. The special rate is a quaterly average, calculated by BCEAO headquarters and communicated on a quaterly basis to the national agencies.

Table 29.Mali: Interest Rates in the Money Market, 1991-97(In percent per year)
OvernightOne-monthThree-month
DepositsAdvancesDepositsAdvancesDepositsAdvances
1991
November 410.60010.72510.72510.85010.85010.975
1992
June 2210.10010.72510.22510.85010.35010.975
August 2011.10012.72511.22512.85011.35012.975
November 910.10011.97510.22512.10010.35012.225
1993
April 269.35011.2259.47511.3509.60011.475
May 108.85010.7258.97510.8509.10010.975
May 248.35010.2258.47510.3508.60010.475
October 14 1/0.0009.5008.47510.3508.60010.475
October 210.0009.3758.47510.3508.60010.475
October 280.0009.0008.47510.3508.60010.475
November 40.0008.7508.47510.3508.60010.475
November 110.0008.5008.47510.3508.60010.475
November 180.0008.0008.47510.3508.60010.475
November 250.0007.7508.47510.3508.60010.475
December 20.0007.6250.0000.0008.6000.000
December 90.0007.5000.0000.0008.6000.000
December 160.0007.3500.0000.0008.6000.000
December 300.0007.2500.0000.0008.6000.000
1994
January 60.0007.5000.0000.0000.0000.000
January 130.0008.0000.0000.0000.0000.000
January 200.0009.0000.0000.0000.0000.000
January 270.0009.2500.0000.0000.0000.000
June 200.0008.2500.0000.0000.0000.000
June 270.0008.0000.0000.0000.0000.000
July 40.0007.5000.0000.0000.0000.000
Jury 110.0007.0000.0000.0000.0000.000
July 180.0006.7500.0000.0000.0000.000
July 250.0006.5000.0000.0000.0000.000
August 10.0006.2500.0000.0000.0000.000
August 80.0006.0000.0000.0000.0000.000
August 150.0005.8500.0000.0000.0000.000
August 220.0005.7500.0000.0000.0000.000
September 190.0005.6000.0000.0000.0000.000
September 260.0005.5000.0000.0000.0000.000
December 50.0005.0000.0000.0000.0000.000
December 260.0005.5000.0000.0000.0000.000
1995
December 110.0005.7500.0000.0000.0000.000
December 180.0006.0000.0000.0000.0000.000
1996
January 20.0005.5000.0000.0000.0000.000
April 300.0005.2500.0000.0000.0000.000
June 30.0005.0000.0000.0000.0000.000
June 170.0005.5000.0000.0000.0000.000
Source: Information provided by the BCEAO.

On October 14, 1993 the money market started to operate through a system of weekly two-way auctions. The two-way auctions were abolished in July 1996 and replaced by alternative injections of liquidity and issue of central bank bonds based on the degree of banks’ liquidity.

AuctionsValue dateMarginalMinimum proposedMaximum proposedWeighted average
1996
Injection of liquidity7/15/965.5005.961
Injection of liquidity7/22/965.2505.250
Injection of liquidity7/29/965.2505.250
Issue of BCEAO bonds8/5/965.0001.0006.0004.145
Issue of BCEAO bonds8/12/964.7504.0005.2504.513
Issue of BCEAO bonds8/19/964.0003.5005.2503.725
Issue of BCEAO bonds8/26/964.0002.5005.5003.577
Issue of BCEAO bonds9/2/964.0002.5005.0003.609
Issue of BCEAO bonds9/9/964.0002.5005.4243.698
Issue of BCEAO bonds9/16/964.0002.5005.4243.740
Issue of BCEAO bonds9/23/964.0002.8005.4243.741
Issue of BCEAO bonds9/30/964.0003.0005.4243.740
Issue of BCEAO bonds10/7/964.0003.0005.4243.759
Issue of BCEAO bonds10/14/964.2503.0005.4243.771
Issue of BCEAO bonds10/21/964.2503.0005.0003.645
Issue of BCEAO bonds10/28/964.0003.0005.0003.795
Injection of liquidity11/25/965.0005.474
Injection of liquidity12/2/965.2505.444
Injection of liquidity12/9/965.0005.441
Injection of liquidity12/16/965.0005.407
Injection of liquidity12/23/965.0005.411
Injection of liquidity12/30/965.0005.389
1997
Injection of liquidity1/13/975.0005.0006.0005.164
Injection of liquidity1/20/975.0005.0005.7505.369
Injection of liquidity1/27/975.2504.9005.5005.430
Injection of liquidity2/3/975.2005.2005.7505.386
Injection of liquidity2/10/975.2005.2005.5005.416
Injection of liquidity2/17/975.0005.0005.0005.000
Injection of liquidity2/24/975.0005.0005.0005.000
Injection of liquidity3/3/975.0005.0005.4005.049
Injection of liquidity3/10/975.0005.0005.3505.031
Injection of liquidity3/17/975.0005.0005.3005.015
Injection of liquidity3/24/975.0005.0005.2505.014
Injection of liquidity4/1/975.0005.0005.2505.011
Injection of liquidity4/7/975.0005.0005.2505.031
Injection of liquidity4/14/975.0004.5005.2505.023
Injection of liquidity4/21/975.0004.5005.2505.043
Injection of liquidity4/28/975.0004.5005.2505.039
Injection of liquidity5/5/975.0005.0005.2505.076
Injection of liquidity5/12/975.0004.2505.2505.124
Injection of liquidity5/19/975.0005.0005.5005.173
Injection of liquidity5/26/975.0205.0205.5005.188
Issue of BCEAO bonds6/16/974.7402.8006.0003.857
Issue of BCEAO bonds6/23/974.7003.2505.2504.159
Issue of BCEAO bonds6/30/974.6503.2304.6504.436
Issue of BCEAO bonds7/7/974.6003.5005.1254.404
Issue of BCEAO bonds7/14/974.6003.2504.9004.209
Issue of BCEAO bonds7/21/974.7503.5005.1504.327
Issue of BCEAO bonds7/28/975.0004.5005.0004.641
Issue of BCEAO bonds8/4/974.0004.0004.0004.000
Issue of BCEAO bonds8/11/974.0004.0004.0004.000
Issue of BCEAO bonds8/18/974.0004.0004.0004.000
Issue of BCEAO bonds8/25/974.0004.0004.0004.000
Issue of BCEAO bonds9/1/974.0004.0004.0004.000
Source: Information provided by the BCEAO.

On October 14, 1993 the money market started to operate through a system of weekly two-way auctions. The two-way auctions were abolished in July 1996 and replaced by alternative injections of liquidity and issue of central bank bonds based on the degree of banks’ liquidity.

Source: Information provided by the BCEAO.

On October 14, 1993 the money market started to operate through a system of weekly two-way auctions. The two-way auctions were abolished in July 1996 and replaced by alternative injections of liquidity and issue of central bank bonds based on the degree of banks’ liquidity.

Table 30.Mali: Lending Rates Applied by Commercial Banks, 1986-96(In percent per year)
From Mar. 24,From Sept. 22,From Dec. 23,From Mar. 30,From Oct. 2From Nov. 27,From Aug. 20,From Nov. 9,From Oct 1
19861986198819891989 4/1989199219921993
Min.Max.Min.Max.Min.Max.Min.Max.Max.Max.Max.Max.
Rates
Short- and medium-term credit
Crop financing and export credit8.09.07.08.08.59.510.011.015.516.018.017.5free 5/
Financing of storage of agricultural products8.09.07.08.08.59.510.011.015.516.018.017.5free 5/
Credit to small and medium-sized national enterprises 1/8.010.07.09.08.510.510.012.015.516.018.017.5free 5/
Credit to nationals 2/ for construction of first primary residence8.010.07.09.08.510.510.012.015.516.018.017.5free 5/
Other credits9.514.58.513.59.514.510.015.015.516.018.017.5free 5/
Long-term credit 3/
Credit to small and medium-sized national enterprises 1/8.010.07.09.08.510.510.012.015.516.018.017.5free 5/
Credit to nationals 2/ for construction of first primary residence8.010.07.09.08.510.510.012.015.516.018.017.5free 5/
Other credits9.514.58.513.59.514.510.015.015.516.018.017.5free 5/
Source: Information provided by the BCEAO.

Originally not exceeding CFAF 20 million; since May 1, 1979, not exceeding CFAF 30 million.

Of any member state of WAMU.

Originally, with maturity of more than 2 years and less than 10 years, and less than 15 years since October 2, 1989.

Minimum abolished on October 2, 1989.

Cannot exceed the legal usury rate, set at twice the prevailing discount rate.

Source: Information provided by the BCEAO.

Originally not exceeding CFAF 20 million; since May 1, 1979, not exceeding CFAF 30 million.

Of any member state of WAMU.

Originally, with maturity of more than 2 years and less than 10 years, and less than 15 years since October 2, 1989.

Minimum abolished on October 2, 1989.

Cannot exceed the legal usury rate, set at twice the prevailing discount rate.

Table 31.Mali: Deposit Rates Applied by Commercial Banks, 1988-96 1/
December 1988 - October 1989November 1989 - October 1993January 1994 - Present
FromFromFrom
Dec. 23, 1988Mar. 30, 1989Sept 22, 1986Dec. 23, 1988Mar. 30, 1989Oct. 2, 1989Nov. 27, 1989Aug. 20, 1992Nov. 9, 1992oct. 1, 1993Jan. 18, 1994July 8, 1994Sep. 26, 1994April 1, 1996
(In percent per year)
(Up to CFAF 200,000)(CFAF 200,001-CFAF 500,000)(Up to CFAF 500,000)(Up to CFAF 5 million)
Public deposits 2/Determined by agreementDetermined by agreementDetermined by agreement
Other deposits
Demand deposits4/4/4/5/5/5/5/5/5/5/5/5/
Time deposits
Less than six months5.005.004.755.506.005/5/5/5/TMM-2 6/TMM-2 6/TMM-2 6/TMM-2 6/TMM-2 6/
Six months - less than one yea6.006.505.756.507.005/5/5/5/TMM-2 6/TMM-2 6/TMM-2 6/TMM-2 6/TMM-2 6/
One year and more7.25*7.75*7.00*8.00*8.50*5/5/5/5/5/5/5/5/5/
Certificates of deposit
Six months - less than one yea6.006.505.756.507.005/5/5/5/TMM-2 6/TMM-2 6/TMM-2 6/TMM-2 6/TMM-2 6/
One year and more7.25*7.75*7.00*8.00*8.50*5/5/5/5/5/5/5/5/5/
Savings deposits 3/7.007.506.507.007.506.507.009.008.504.508.005.004.503.50
(CFF 500,500-CFAF 2,000,000)(Above CFAF 2,000,000)(Above CFAF 500,000)(Above CFAF 5 million)
Public deposits 2/Determined by agreementDetermined by agreementDetermined by agreementFree
Other deposits
Demand deposits4/4/4/4/4/5/5/5/5/5/5/5/5/5/
Time deposits
Less man six months6.006.505.75*6.50*7.006.50*7.00*9.00*8.50*5/5/5/5/5/
Six months - less than one yea7.257.757.00*7.75*8.257.50*8.00*10.00*9.50*5/5/5/5/5/
One year and more8.50*9.00*8.00*9.00*9.50*8.50*9.00*11.00*10.50*5/5/5/5/5/
Certificates of deposit5/5/5/5/5/
Six months - less than one yea7.257.757.00*7.758.25*7.50*8.00*10.00*9.50*5/5/5/5/5/
One year and more8.50*9.00*8.00*9.00*9.50*8.50*9.00*11.00*10.50*5/5/5/5/5/
Savings deposits 3/7.007.506.507.007.506.507.009.008.504.508.005.004.503.50
Source: Information provided by the BCEAO.

Fixed rates, unless marked with an asterisk (*), in which case it is a minimum rate.

Includes deposits of the Treasury, Post Office Savings Bank, and other government agencies, public and mixed enterprises, and special private sector deposits resulting from legal requirements, such as reserves of insurance companies.

Applicable to savings deposits of less than CFAF 5 million.

The requirement that banks pay interest on demand deposits was suspended beginning January 1, 1985.

Deposit rates no longer fixed by the BCEAO.

Average montly money market rate published by BCEAO minus 2 percent

Source: Information provided by the BCEAO.

Fixed rates, unless marked with an asterisk (*), in which case it is a minimum rate.

Includes deposits of the Treasury, Post Office Savings Bank, and other government agencies, public and mixed enterprises, and special private sector deposits resulting from legal requirements, such as reserves of insurance companies.

Applicable to savings deposits of less than CFAF 5 million.

The requirement that banks pay interest on demand deposits was suspended beginning January 1, 1985.

Deposit rates no longer fixed by the BCEAO.

Average montly money market rate published by BCEAO minus 2 percent

Table 32.Mali: Balance of Payments, 1991-96 1/2/(In billions of CFA francs)
199119921993199419951996
Prel.
Exports, f.o.b.104.695.898.9186.8225.7228.3
Of which: cotton (fiber)48.937.839.481.5126.9132.5
Imports, c.i.f.-192.7-190.4-191.9-349.3-397.5-407.8
Of which: petroleum-22.4-22.2-21.0-29.1-37.3-52.2
Trade balance-88.1-94.6-93.0-162.5-171.7-179.5
Services (net)-32.8-47.8-31.0-58.3-64.3-66.5
Of which: interest due 3/-10.2-10.9-9.6-21.9-16.2-13.9
Private transfers (net)19.719.626.547.147.846.0
Official transfers (net)89.694.967.3134.4111.4124.1
Of which: in kind6.85.83.913.15.56.1
budgetary22.922.612.042.829.426.7
project-related38.838.030.055.063.069.8
Current account balance
(including official transfers)-11.6-27.9-30.3-39.3-76.8-75.9
(excluding official transfers)-101.2-122.8-97.6-173.7-188.2-200.0
Nonmonetary capital (net)16.21.1-7.045.761.172.1
Private (net)-2.2-2.3-1.920.915.030.9
Official (net)18.43.4-5.124.846.141.2
Disbursements (net)49.338.730.391.7110.1102.1
Of which: budgetary18.19.71.831.739.634.6
project-related31.229.028.560.070.567.5
Amortization due-30.9-35.3-35.4-66.9-64.0-60.9
Debt relief 4/23.829.430.651.844.841.0
Errors and omissions10.6-4.78.29.74.728.0
Overall balance39.0-2.11.568.033.865.3
Financing-39.02.1-1.5-68.0-33.8-65.3
Foreign assets (net)-38.8-2.0-6.8-48.2-37.1-65.3
Of which: IMF (net)-2.72.11.317.718.411.6
Revaluation adjustment-1.30.40.30.03.30.0
Payments arrears1.13.75.0-19.80.00.0
Accumulation0.04.89.00.00.00.0
Reduction0.0-1.1-4.0-19.80.00.0
Memorandum items:
External current account balance as a percent of GDP:
Including official transfers-1.7-3.7-4.0-3.8-6.2-5.6
Excluding official transfers-14.8-16.3-12.9-16.9-15.3-14.7
Outstanding payments arrears (end-of-period) 5/1.14.89.80.00.00.0
Sources: Data provided by the Malian authorities; and Fund staff estimates.

Data may not add up because of rounding.

Including debt service due to the People’s Republic of China and Russia.

After debt cancellation obtained through 1996, inlcuding the 1994 cancellation of debt by France, Italy, and Switzerland, equivalent to CFAF 114.7 billion.

Reflects agreements on debt rescheduling and moratoria, as well as debt under negotiation.

The end-of-period stock includes the net change in payments arrears, as well as the change in the value of the stock owing to exchange rate movements.

Sources: Data provided by the Malian authorities; and Fund staff estimates.

Data may not add up because of rounding.

Including debt service due to the People’s Republic of China and Russia.

After debt cancellation obtained through 1996, inlcuding the 1994 cancellation of debt by France, Italy, and Switzerland, equivalent to CFAF 114.7 billion.

Reflects agreements on debt rescheduling and moratoria, as well as debt under negotiation.

The end-of-period stock includes the net change in payments arrears, as well as the change in the value of the stock owing to exchange rate movements.

Table 33.Mali: Balance of Payments, 1991-96 1/2/(In millions of SDRs)
199119921993199419951996
Prel.
Exports, f.o.b.271.1257.1250.2235.0298.2307.3
Of which: cotton (fiber)126.8101.399.6102.5167.6178.4
Imports, c.i.f.-499.3-510.8-485.6-439.4-525.0-548.9
Of which: petroleum-58.0-59.7-53.0-36.6-49.2-70.2
Trade balance-228.2-253.8-235.4-204.4-226.8-241.6
Services (net)-85.0-128.3-78.5-73.3-84.9-89.5
Of which: interest due 3/-26.4-29.2-24.2-27.5-21.4-18.7
Private transfers (net)51.052.566.959.263.161.9
Official transfers (net)232.2254.7170.2169.0147.1167.1
Of which: in kind17.615.69.916.57.38.2
budgetary59.360.630.453.838.835.9
project-related100.5102.075.969.283.294.0
Current account balance
(including official transfers)-30.0-74.8-76.7-49.4-101.5-102.1
(excluding official transfers)-262.1-329.6-247.0-218.5-248.6-269.2
Nonmonetary capital (net)41.93.0-17.757.580.797.1
Private (net)-5.7-6.2-4.826.319.841.6
Official (net)47.79.1-12.931.260.955.5
Disbursements (net)127.8103.876.7115.3145.4137.4
Of which: budgetary46.926.04.639.952.346.6
project-related80.877.872.175.593.190.9
Amortization due-80.1-94.7-89.6-84.1-84.5-82.0
Debt relief 4/61.778.977.565.259.255.2
Errors and omissions27.5-12.620.712.26.237.7
Overall balance101.1-5.63.885.544.687.8
Financing-101.15.6-3.8-85.5-44.6-87.8
Foreign assets (net)-100.6-5.4-17.2-60.6-49.0-87.9
Of which: IMF (net)-6.95.63.322.324.315.7
Revaluation adjustment-3.41.10.80.04.40.0
Payments arrears2.99.912.6-24.90.00.0
Accumulation0.012.922.80.00.00.0
Reduction0.0-3.0-10.1-24.90.00.0
Memorandum items:
Outstanding payments arrears (end-of-period) 5/2.912.924.80.00.00.0
Exchange rate: CFAF/SDR (period average)385.9372.7395.3795.0757.1742.8
Sources: Data provided by the Malian authorities; and Fund staff estimates.

Data may not add up because of rounding.

Including debt service due to the People’s Republic of China and Russia.

After debt cancellation obtained through 1996, including the 1994 cancellation of debt by France, Italy, and Switzerland, equivalent to CFAF 114.7 billion,

Reflects agreements on debt rescheduling and moratoria, as well as debt under negotiation.

The end-of-period stock includes the net change in payments arrears, as well as the change in the value of the stock owing to exchange rate movements.

Sources: Data provided by the Malian authorities; and Fund staff estimates.

Data may not add up because of rounding.

Including debt service due to the People’s Republic of China and Russia.

After debt cancellation obtained through 1996, including the 1994 cancellation of debt by France, Italy, and Switzerland, equivalent to CFAF 114.7 billion,

Reflects agreements on debt rescheduling and moratoria, as well as debt under negotiation.

The end-of-period stock includes the net change in payments arrears, as well as the change in the value of the stock owing to exchange rate movements.

Table 34.Mali: Composition of Exports, f.o.b., 1991-96(Value in billions of CFA francs, volumes in metric tons, unit values in CFA francs per kilogram)
199119921993199419951996
Prel.
Cotton
Value51.340.141.785.0129.2134.9
Cotton fiber
Value48.937.839.481.5126.9132.5
Volume115,468.7110,844.5133,278.5109,272.7148,122.8160,960.4
Unit value423.8340.7295.3729.5856.8823.3
Cotton cakes
Value0.40.40.40.50.50.5
Volume10,000.010,000.010,500.010,500.011,025.011,168.3
Unit value40.040.040.048.043.144.2
Cotton threads and materials
Value1.41.41.42.21.11.2
Volume2,650.02,650.02,650.02,700.01,372.01,402.2
Unit value530.0530.0540.0825.0802.2822.2
Cottonseed oil
Value0.50.50.50.80.70.7
Volume3,100.03,100.03,100.03,100.03,131.03,149.8
Unit value170.0170.0170.0255.0229.2235.0
Livestock
Value27.325.027.051.840.030.0
Volume29,600.031,446.029,600.043,700.037,582.028,599.0
Unit value923.4794.8911.01,184.31,064.61,049.0
Hides and leathers
Value1.91.82.12.91.62.0
Volume2,400.02,550.02,627.02,725.01,672.02,087.3
Unit value801.9723.9810.01,053.0957.5970.3
Fish
Value1.01.11.11.70.80.9
Volume1,450.01,508.01,568.31,750.0802.0826.1
Unit value700.0700.0700.0950.0997.51,030.0
Shelled groundnuts
Value0.10.40.30.40.20.2
Volume680.05,333.33,666.73,941.71,754.01,789.1
Unit value75.075.075.0113.0113.0115.8
Other oilseeds
Value2.02.02.03.03.33.5
Volume20,000.020,000.020,000.021,500.023,865.024,428.2
Unit value100.0100.0100.0140.0140.0143.5
Gold
Value12.415.815.227.835.639.8
Volume4,762.06,099.05,184.04,599.06,157.06,584.0
Unit value2,608.52,592.22,932.36,036.35,776.66,037.8
Other
Value8.69.69.514.315.017.1
Total104.695.898.9186.8225.7228.3
Sources: Data provided by the BCEAO; and Fund staff estimates.
Sources: Data provided by the BCEAO; and Fund staff estimates.
Table 35.Mali: Composition of Imports, c.i.f., 1991-96(Value in billions of CFA francs, volumes in metric tons, unit values in CFA francs per kilogram)
199119921993199419951996
Prel.
Foodstuffs
Value33.025.727.447.851.750.5
Cereals
Value9.56.07.27.210.512.7
Volume76,242.045,705.657,777.035,100.048,000.048,000.0
Unit value124.2131.8124.6205.0218.7263.8
Sugar
Value10.25.24.215.216.013.8
Volume83,100.046,024.833,537.051,000.054,298.050,577.0
Unit value122.4113.0125.7298.2295.0272.8
Milk
Value5.36.27.010.19.86.7
Volume9,144.310,840.012,234.88,938.18,660.05,753.0
Unit value575.0575.0575.01,130.01,130.01,167.1
Tea and coffee
Value1.71.51.93.13.23.1
Volume1,700.01,751.02,014.01,611.01,933.21,991.2
Unit value1,017.0877.9950.21,930.01,644.91,563.1
Other beverages
Value0.30.40.40.80.70.7
Volume2,500.02,575.02,652.32,546.22,622.52,701.0
Unit value130.0136.5143.3296.0266.1274.8
Cola nuts
Value1.21.31.31.61.51.7
Volume7,500.07,725.07,956.87,906.08,222.28,468.9
Unit value160.0165.0166.0205.0184.3196.1
Other
Value4.85.05.39.810.011.8
Volume31,000.031,930.032,887.929,599.130,783.131,706.6
Unit value155.0158.1161.2331.9323.9372.8
Machines and vehicles
Value53.053.151.7107.0127.7136.9
Volume30,300.031,209.029,640.030,300.036,360.038,178.0
Unit value1,750.01,702.01,743.33,531.03,513.03,585.8
Petroleum products
Value22.422.221.029.137.352.2
Volume227,086.3232,816.8200,095.5226,004.0289,905.0332,843.0
Unit value98.595.5104.7128.9128.6156.8
Construction materials
Value20.221.018.633.739.640.5
Volume40,480.044,528.040,100.034,474.040,000.041,800.0
Unit value499.0470.9464.6976.4989.7970.0
Chemical products
Value21.420.320.033.935.437.0
Volume85,375.085,302.085,300.074,077.077,780.981,281.0
Unit value250.9237.4234.1457.2454.6454.6
Textiles and leather
Value12.713.514.322.520.822.4
Volume25,750.026,522.527,318.221,854.522,510.223,410.6
Unit value495.0509.9525.11,029.7925.7956.0
Other
Value30.034.639.075.485.068.3
Total192.7190.4191.9349.3397.5407.8
Sources: Data provided by the BCEAO; and Fund staff estimates.
Sources: Data provided by the BCEAO; and Fund staff estimates.
Table 36.Mali: Direction of Trade, 1991-96 1/(In millions of U.S. dollars)
199119921993199419951996
ValuePercentValuePercentValuePercentValuePercentValuePercentValuePercent
Exports266.55100.00216.24100.00218.27100.00175.75100.00237.07100.00287.52100.00
Industrial countries101.5538.10108.0149.9577.7735.6397.0655.2391.9238.77105.0736.54
Of which:
Belgium-Luxembourg39.6814.8934.2815.855.562.5525.9614.7717.767.4912.394.31
France8.043.028.964.148.423.867384.206.912.914.941.72
Germany11.024.139.614.445.942.723.842.183.731.572.871.00
Spain1.860.701.960.912.741.264.482.557.763.277.822.72
United Kingdom2.620.983.381.562.130.980.660.380.320.130.960.33
Developing countries163.0161.16106.0549.04137.9063.1875.6043.02141.3559.62177.9661.89
Of which:
Africa26.6810.0126.1912.1127.5612.6317.309.8421.739.1732.1411.18
Of which: Côte d’Ivoire2.570.967.973.697.913.622.071.182.901.224.231.47
Asia97.4336.5578.4736.2964.6129.6045.8326.0898.1041.38137.5847.85
Of which: People’s
Republic of China35.6513.3731.7314.670.000.008.274.7133.0413.9412.374.30
Others 2/38.9014.591.391.0145.7320.9512.477.1021.529.088.242.87
Imports666.99100.00739.17100.00737.46100.00717.98100.001018.00100.001143.00100.00
Industrial countries279.2141.86317.9243.01297.7340.37245.9134.25393.1238.62429.8637.61
Of which:
Belgium-Luxembourg25.293.7927.793.7623.363.1733.154.6233.813.3233.892.97
France124.8218.71153.7320.80131.2217.79105.1414.64191.5218.81218.8219.14
Germany29.834.4722.713.0724.203.2815.942.2217.001.6726.822.35
Spain6.701.0010.801.4610.501.426.090.8512.421.2215.481.35
United Kingdom18.452.7721.742.9415.622.1218.272.5441.714.1041.713.65
Developing countries361.9854.27392.5153.10405.4954.98431.3460.08575.1456.50670.4258.65
Of which:
Africa309.9646.47324.2443.87325.2344.10367.2351.15473.8646.55562.0049.17
Of which: Côte d’Ivoire153.1722.96133.2718.03121.4216.46118.6916.53166.2116.33202.5117.72
Asia38.335.7555.877.5666.549.0253.457.4482.188.0777.756.80
Of which: People’s
Republic of China11.071.665.980.8112.711.7211.891.6627.6117116.751.47
Others 2/13.692.0512.401.6813.721.8610.661.4819.101.8830.672.68
Memorandum items:
Share of total trade
France132.8614.23162.6917.03139.6514.61112.5212.59198.4315.81223.7615.64
Côte d’Ivoire155.7416.68171.3217.93203.8021.32232.3926.00298.4023.78206.7414.45
Germany40.854.3832.323.3830.143.1519.782.2120.731.6529.692.08
Sources: IMF, Direction of Trade Statistics Yearbook, 1997.

Data may not add up because of rounding.

Including the former U.S.S.R., Eastern European countries, and others.

Sources: IMF, Direction of Trade Statistics Yearbook, 1997.

Data may not add up because of rounding.

Including the former U.S.S.R., Eastern European countries, and others.

Table 37.Mali: Terms of Trade Indices, 1991-96Index (1985 = 100)
199119921993199419951996
Prel.
Export indices
Value132.2121.1125.0236.2285.3288.6
Volume157.2164.3168.0170.3203.7209.1
Unit value 1/84.173.774.4138.7140.1138.0
Import indices
Value91.490.391.0165.7188.5193.4
Volume99.598.797.194.4108.1110.4
Unit value 1/91.891.593.8175.4174.5175.3
Terms of trade91.680.679.479.080.378.8
Sources: Data provided by the Malian authorities; and Fund staff estimates.

Unit value indices for exports and imports are Fisher indices calculated in terms of CFA francs.

Sources: Data provided by the Malian authorities; and Fund staff estimates.

Unit value indices for exports and imports are Fisher indices calculated in terms of CFA francs.

Table 38.Mali: Foreign Aid, 1991-96 1/(In billions of CFA francs)
199119921993199419951996
Total foreign aid138.9133.697.6228.6221.5226.2
Grants89.694.967.3136.9111.4124.1
Loans49.338.730.391.7110.1102.1
Project aid706758.5115133.5137.3
Grants38.83830556369.8
Loans31.22928.56070.567.5
Budgetary aid 2/4132.313.874.56961.3
Grants22.922.61242.829.426.7
Loans18.19.71.831.739.634.6
Aid in kind6.85.83.913.15.56.1
Grants6.85.83.913.15.56.1
Of which: cereal4.51.51.12.41.7
Technical assistance
Grants21.128.521.423.513.521.5
Sources: Data provided by the Malian authorities; and Fund staff estimates

In the balance of payments, grants are included under official transfers; loans are included in nonmonetary capital receipts.

Includes budgetary aid channeled both through the Treasury and outside the Treasury.

Sources: Data provided by the Malian authorities; and Fund staff estimates

In the balance of payments, grants are included under official transfers; loans are included in nonmonetary capital receipts.

Includes budgetary aid channeled both through the Treasury and outside the Treasury.

Table 39.Mali: External Disbursed Public Debt Outstanding by Creditor, 1991-96 1/
199119921993199419951996
In millions of U.S. dollars, unless otherwise indicated; end of period
Suppliers’ credits4.42.00.80.00.00.0
Of which:
Germany1.50.80.80.00.00.0
United Kingdom2.91.20.00.00.00.0
Financial institutions 2/7.44.03.22.12.30.0
Of which:
Netherlands1.43.31.92.12.30.0
Multiple lenders0.20.00.00.00.00.0
Switzerland0.00.61.30.00.00.0
United Kingdom5.80.00.00.00.00.0
Multilateral loans1000.21061.71105.01252.81399.11477.6
Of which:
African Development Bank12.711.010.19.78.611.2
African Development Fund248.9253.8259.9285.3333.5359.6
BADEA22.619.617.817.116.412.3
EEC10.08.37.78.48.88.4
European Development Fund21.827.325.127.128.426.5
European Investment Bank16.629.728.029.735.033.7
FIDA29.732.035.137.639.042.9
IDA569.3611.1655.7769.6863.0915.2
Islamic Development Bank30.430.330.732.631.632.3
League of Arab States5.55.0643.83.11.3
OPEC Special Fund30.427.823.026.423.321.4
West African Development Bank0.00.00.00.03.28.0
African Solidarity Fund2.52.52.52.52.52.5
ECOWAS0.03.43.13.02.72.3
Bilateral loans1581.61668.61635.71250.21297.71266.7
Of which:
Algeria26.023.225.922.620.518.2
Switzerland43.471.091.90.00.00.0
China, People’s Republic of1366120.8119.3117.4137.3139.3
Côte d’Ivoire0.00.00.00.08.07.5
Egypt, Arab Republic of3.73.73.73.63.60
France596.3628.3562.9293.0318.6288.1
Iraq20.020.020.020.020.020.0
Italy4.46.87.42.82.71.3
Japan6.338.442.847.664.180.8
Kuwait46.441.139.235.935.235.0
Libya4.68.07.77.27.26.0
Netherlands4.04.04.55.05.42.5
Qatar2.60.00.00.00.00.0
Saudi Arabia82.1101.2106.796.784.678.6
United Arab Emirates36.434.536.733.526.123.6
United Kingdom16.716.716.716.716.618.0
Russia549.7549.7549.0548.3547.6547.6
Subtotal2593.62736.32744.72505.12699.02744.3
Use of IMF resources60.165.470.6108.2147.1164.8
Total2653.72801.72815.32613.32846.12909.1
Memorandum items:
(In percent of total debt outstanding)
Suppliers0.20.10.00.00.00.0
Financial institutions0.30.10.10.10.10.0
Multilateral loans including IMF Trust Fund40.042.043.145.154.256.5
Bilateral loans
including operations account59.659.658.147.845.643.5
China, People’s Republic of5.14.34.24.54.84.8
France22.522.420.011.211.29.9
Russia20.719.619.521.019.218.8
IMF2.42.62.74.05.25.7
Exchange rate: CFAF/U.S. dollar 3/259.0275.3294.8534.6490.0523.7
Sources: IBRD, Debtor Reporting System; IMF, International Financial Statistics, and Malian authorities.

Data may not add up because of rounding.

Includes export credits.

End of period exchange rate.

Sources: IBRD, Debtor Reporting System; IMF, International Financial Statistics, and Malian authorities.

Data may not add up because of rounding.

Includes export credits.

End of period exchange rate.

Table 40.Mali: Structure and Terms of New Loan Commitments, 1991-96(In millions of U.S. dollars, unless otherwise specified)
199119921993199419951996
Category of lender
Bilateral loans2.76123.87020.2655.80261.90312.682
Multilateral loans185.228133.84080.122128.980100.699230.383
Suppliers’ credits0.0000.0000.0000.0000.0000.000
Financial institutions0.0000.0000.7060.0000.0000.000
Total187.989157.710101.093134.782162.602243.065
Average terms
Interest rate (percent)0.8892.3371.5370.8481.4651.415
Maturity (years)40.90029.20033.40037.10030.70035.600
Grace period (years)9.7008.2007.9009.7008.8009.200
Grant element (percent)78.80059.00063.50077.70068.60072.200
Sources: IBRD, Debtor Reporting System and Malian authorities.
Sources: IBRD, Debtor Reporting System and Malian authorities.
Table 41.Mali: Debt Service on Medium- and Long-Term External Public Debt, 1991-96 1/2/
199119921993199419951996
(In billions of CFA francs)
Total scheduled debt service 3/43.847.947.594.183.878.8
Interest10.210.99.621.916.213.9
Principal33.637.037.972.367.664.9
Debt service with China3.04.64.710.410.811.6
Interest0.00.00.00.00.00.0
Principal3.04.64.710.410.811.6
Debt service with Russia20.221.820.232.129.827.4
Interest1.82.92.52.82.31.4
Principal18.318.817.729.327.526.0
IMF3.62.62.96.24.54.9
Charges and interest1.00.90.40.80.90.9
Repurchases and repayments2.71.72.55.43.64.0
Scheduled debt service (excluding China, Russia, and IMF) 3/17.018.919.745.438.734.9
Interest7.47.16.718.213.011.6
Principal9.611.813.027.225.723.3
Scheduled debt service 3/ (excluding China and Russia, but including IMF)20.721.522.651.642.839.8
Interest8.47.97.119.013.912.5
Principal (excluding IMF)9.611.813.027.225.323.3
Repurchases to IMF2.71.72.55.43.64.0
(In percent of exports of goods and nonfactor services)
Debt service ratio (including China and Russia) 3/35.241.139.641.73L629.3
Interest8.29.48.09.76.15.2
Principal27.031.831.632.025.524.1
Debt service ratio vis-à-vis the IMF2.92.22.42.71.71.8
Debt service ratio (excluding China and Russia, but including IMF) 3/16.618.518.822.816.314.8
Interest6.76.85.98.45.14.6
Principal9.911.612.914.411.110.1
(In billions of CFA francs)
Debt rescheduling 4/0.73.05.87.12.32.0
Debt cancellation0.00.00.02.32.00.0
Exports of goods and nonfactor services124.6116.5120.1225.9265.1269.4
Sources: Data provided by the Malian authorities; and Fund staff estimates.

Data may not add up because of rounding.

After debt cancellation until 1993; before debt rescheduling.

Excluding payment of arrears on external debt.

On current debt service obligations.

Sources: Data provided by the Malian authorities; and Fund staff estimates.

Data may not add up because of rounding.

After debt cancellation until 1993; before debt rescheduling.

Excluding payment of arrears on external debt.

On current debt service obligations.

Table 42.Mali: Nominal and Real Effective Exchange Rate Indices, 1990-97 1/(Index: 1990=100)
NominalReal
1990
First quarter98.7899.04
Second quarter99.4998.65
Third quarter100.1299.95
Fourth quarter101.54102.36
1991
First quarter100.73101.26
Second quarter97.5396.10
Third quarter97.2794.71
Fourth quarter98.8992.98
1992
First quarter99.5291.75
Second quarter100.5989.38
Third quarter103.9190.51
Fourth quarter104.8091.52
1993
First quarter104.6289.90
Second quarter104.9189.64
Third quarter102.4287.74
Fourth quarter102.9587.85
1994
First quarter52.7650.94
Second quarter52.9853.65
Third quarter53.9757.10
Fourth quarter54.0358.18
1995
First quarter54.6258.97
Second quarter55.2761.71
Third quarter55.5162.44
Fourth quarter55.7864.44
1996
First quarter55.5163.92
Second quarter55.0264.64
Third quarter55.1964.52
Fourth quarter54.8063.45
1997
First quarter53.6962.02
Second quarter53.0960.94
Source: IMF, Information Notice System (INS).

Period averages, based on the following average trade weights (in percent): France (25.81), Germany (10.55), United States (8.57), Italy (8.38), United Kingdom (6.36), Belgium (6.34), Japan (5.61), the Netherlands (4.84), People’s Republic of China (4.80) and other countries (18.74).

Source: IMF, Information Notice System (INS).

Period averages, based on the following average trade weights (in percent): France (25.81), Germany (10.55), United States (8.57), Italy (8.38), United Kingdom (6.36), Belgium (6.34), Japan (5.61), the Netherlands (4.84), People’s Republic of China (4.80) and other countries (18.74).

APPENDIX Mali: Summary of Tax System as of June 30, 1997
TaxNature of TaxExemptions and DeductionsRates
1. Tax on Income and Profits
1.1Tax on industrial, commercial, and professional profits (BIC; BNC)Tax on net income of enterprises, whether set up as companies or not, of some cooperatives, and of liberal professions and public sector enterprises. Nonresident companies are taxed on that part of their profits derived in Mali. There are special provisions for the extractive industries. Losses in deficit years may be carried forward and deducted from the results of the following three years.Exemptions: nonprofit consumer cooperatives without sales outlets, mutual agricultural credit funds. Profits subject to IRF and IRVM, taxpayers subject to business license fees (patente), small transport enterprises, retirement funds, and initial investments in agriculture research, are also exempt.Limited liability companies (SA&SARL):35 percent
Partnerships and individual enterprises:15 percent
Special deductions: under certain conditions, investment expenditure of up to 50 percent of profits.Craftsmen:10 percent
1.2Minimum presumptive taxConstitutes a minimum assessment for enterprises subject to corporate tax.0.75 percent on turnover.
1.3Schedular tax on agricultural profits 1/Levied on agricultural profits and established on a lump-sum basis; option exists for taxation on actual profits.Exemption of five years for new agricultural enterprises.10 percent.
1.4Schedular tax on rental income (IRF)Levied on rental income from real estate. A withholding is required each month on monthly rentals exceeding CFAF 50,000 at the following rates:Various exemptions are allowed for in the Tax Code, e.g., a 5-year exoneration for new or reconstructed buildings.20 percent.
- 18 percent on rentals from durable or semidurable construction;
- 12 percent on rentals from nondurable construction
1.5Tax on road transporters (TTR)Final tax on road transporters (whose turnovers do not exceed CFAF 5,000,000 or own fewer than 4 vehicles) in lieu of the following taxes:Variable rates from CFAF 88,000-414,000 based on vehicles’ capacity and age.
- general income tax;
- business license fees;
- tax on vehicles;
- payroll tax for their employees;
- general income tax withholding for their employees; and
- service tax (TPS).
1.6Tax on capital income (IRVM)Schedular tax on payments of dividends and interest. Enterprises paying such income must withhold the tax at source.Cooperatives, mutual agricultural credit funds, savings bank accounts, agricultural cooperatives, government bonds, loans from the Banque de developpement du Mali (BDM).Standard rate:18 percent
Special rate:

for prizes (lots) paid to bearers of bonds;
25 percent
Reduced rate: for interest on savings accounts, interest-bearing bonds issued by Malian companies and on dividend payments related to the first three financial years, the maximum duration of which is 42 months of operations.9 percent
1.7General income taxAnnual progressive tax on household income from all sources, including benefits in kind. The tax is withheld at source for wages and salaries and for nonexempt pensions. Agricultural, industrial, commercial and professional profits, and rental and capital incomes are also subject to this tax in addition to their sehedular taxes (See 1.1, 1.3, 1.4 and 1.6 above).Salaries of foreign diplomats are exempt on a reciprocal basis. A deduction of CFAF 100,000 is applied to the global taxable income. Total income is split into parts (Quotient familial): one part for taxpayer, one part for the spouse; a quarter of a part for each dependent child (a full part for invalid child). Schedular taxes paid on income and profits and on paid interest are deductible from the taxable base.Income brackets

(in CFA francs)
Rates

(in %)
0 to 25,0000
25,001 to 100,0008
100,001 to 200,00012
200,001 to 325,00018
325,001 to 500,00025
500,001 to 750,00030
750,001 to 1,000,00035
1,000,001 to 1,500,00040
1,500,001 to 2,000,00045
Over 2,000,00050
2. Contributions for Social Security
2.1Family allowancesEmployer contribution8 percent.
2.2Sickness and occupational accidentsEmployer contribution.Sickness:

Accidents:
2.0 percent

4.0 percent
2.3RetirementContributions from employers and employees.Employers:

Employees:
3.4 percent

3.6 percent
3. Payroll Taxes
3.1Payroll tax due from employerLevied on the wage bill of enterprises, including the real value of remunerations in kind.Exemption of 3 years for employers recruiting university graduates; exemption of 2 years for employers recruiting employees laid off for economic reasons.7.5 percent
3.1.1 Vocational training tax.Levied on wages paid by enterprises including the real value of payments in kind.0.5 percent
3.2Housing taxLevied on the wage bill and earmarked for the Ministry of Housing.1 percent.
4. Taxes on Property
4.1Real estate taxTax applicable to company-owned buildings, including those owned by religious missions. The tax base is the imputed rent; the same qualifications as for the IRF apply (See 1.4 above).Public buildings; real estate companies; charitable organizations; rural production and development companies; cooperatives; mutual agricultural credit funds; medical institutions; religious mission buildings used for teaching purposes, health care, and religious activities.Real estate of religious missions:



Other:
0.5 percent





20.0 percent
4.2Registration feesApplies among others to transfers of real estate, business capital; and rental and lease contracts.50 percent deduction if the building was destroyed and other conditions as specified in the Tax Code.Sale of buildings and transfer of rental contract:20 percent
Rental contract fees:3 percent
Sale or rental of furniture:10 percent
Transfer of business:20 percent
Gift and inheritance duties: rates varying from 8 percent to 20 percent for transfers between spouses and direct ascendants and descendants; and from 20 percent to 50 percent for other heirs.
4.3Livestock taxLevied according to the size of herds.Exemptions:



Certain farm animals.
Tax varies according to species from CFAF 50-800 per head.
5. Tax on Goods and Services
5.1Value-added tax (VAT)Tax on imports, as well as sales of goods and construction work. The base does not include the value-added tax itself.Exports, agricultural equipment and inputs, drugs.Reduced rate:

Basic food items, etc.
10 percent
Normal rate:

All other products that are not exempt
15 percent
Zero rate:

All exports.
0 percent
5.2Tax on services (TPS)Tax on all services.Social or agricultural credit operations, credit and saving cooperatives, receipts from education and rental of unfurnished apartments.Normal rate:15 percent
5.3Selective excisesAssessed on imported products and local manufactures.Normal rate:From 2 to 125 percent
5.4Ad valorem tax on goldLevied on crude gold sales at production stage.Refining costs included in sale proceeds.3 percent
5.5Business license fee (Patentes)Levied on all individuals or legal entities engaged in commerce, industry, or a profession in Mali. This comprises a proportional business license fee, calculated on the rental value of business premises, and a fixed fee established by area and type of activity.Exemptions: enterprises with less than CFAF 1,000,000 turnover, certain craftsmen, central government and other administrators, livestock exports, etc.…



Partial exemptions: recent university graduates during the first three years of activity on their own account on a declining basis (100 percent, 50 percent, 15 percent). Idem for civil servants who leave their jobs under the voluntary departures program, as well as for workers laid off for economic reasons.
Proportional rate:10 percent
Flat rates:variable from CFAF 7,200 to CFAF 1,000,000.
5.6Special business licences fees (Licences)Levied on enterprises engaged in wholesale or retail sale of alcoholic beverages. They are established at flat rates by two regions (Bamako and other areas).Flat rates vary from CFAF 9,000 to 150,000.
5.7Motor vehicles taxTax on vehicles in use.Exemptions: agricultural trucks and vehicles belonging to the civil and military authorities.Based on vehicle power, varies from CFAF 7,000 to CFAF 75,000.
5.8Taxes on firearmsAnnual levy on firearms owners.Exemptions: arms held by officers and arms in stock.Variable rates from CFAF 625 to CFAF 7,500 according to type of firearms.
5.9Tax on insurance contractsLevied on premiums paid for insurance contracts.Reinsurance contracts and export credit and life insurance contracts.4 percent for land, sea, river and air transport risks.



20 percent for all other insurance contracts.
6. Taxes on International Trade
6.1Customs duties on importsLevied on the c.i.f. value of all imports from all countries.Productive capital goods, agricultural inputs, pharmaceutical products, and solar energy equipmentAd valorem duties at the rates of zero or 5 percent
6.2Fiscal duty on importsLevied on the c.i.f. value of all imports from all countries.Productive capital goods and selected raw materials used for local production.Ad valorem duties at the rates of zero, 10, or 25 percent
6.3VAT on importsSee 5.1 above.See 5.1 above.See 5.1 above.
6.4Regional cooperation tax (TCR) 2/Levied on imports of products originating in a WAEC member country, if the enterprise or product is covered by the TCR agreement. Replaces customs duties and fiscal duties.Duty levied in accordance with TCR tariff the rate of which is lower than the customs duty, VAT, and excises on imports.
6.5Variable tax on imports (TCI) 3/Levied on imported sugar and rice to protect local production.Rates vary according to world prices of sugar and rice. At present, rates are: 55 percent, on imported sugar and 25 percent on imported rice.
6.6Selective excises on imported goods.See 5.3 aboveSee 5.3 above.
6.7 Declining protection tax 3/Levied on 73 import products competing with local products for a period of four years beginning 1992.Maximum rate:40 percent (1992)
This rate is reduced by 10 percentage points each year:

30 percent (1993)

20 percent (1994)

10 percent (1995)

0 percent (1996)
6.8 Communal solidarity taxLevied on the c.i.f. value of goods imported from nonmember countries of the WAEC.Petroleum products.1 percent.
6.9 Customs service feeLevied on the c.i.f. value of imported goods from all countries for customs clearance services provided by the Customs Department.Petroleum products:

Other imports:
3 percent

5 percent
6.10Special tax on petroleum importsLevied on petroleum products in lieu of VAT, excises and import duties, and other import levies except customs services fee consolidated in June 1992. Tax base is a standard value determined by the Customs Department.Six variable rates by product: 2,3,10, 25, 90, and 125 percent.
7. Other Taxes
7.1Regional and local development tax (TDRL)Levied on individualsChildren under 14 years and students.Variable rates by region (from CFAF 875 to CFAF 3,000).
7.2Stamp dutiesApplies to legal instruments, correspondence with the Government, drivers’ licenses, and import and export licenses.Rates are fixed according to the nature of the legal document.
Source: Information provided by the Malian authorities.

Suspended since 1979.

Suspended since August 1993.

Suspended since February 1994.

Source: Information provided by the Malian authorities.

Suspended since 1979.

Suspended since August 1993.

Suspended since February 1994.

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