On the basis of the authorities’ record and actions, IMF staff supports the authorities’ request for waivers of two structural performance criteria and one quantitative performance criterion and completion of the sixth review. The authorities completed most of their ambitious structural reform agenda for the sixth poverty reduction growth facility (PRGF) review, albeit with some delays. To enhance the efficiency and soundness of the financial sector and boost growth, the authorities completed a new financial sector development strategy in October, in cooperation with the IMF and the World Bank.
This paper focuses on Mali’s Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility. Mali’s economic situation improved in 2003, in spite of a difficult regional environment. The IMF staff considers that the government’s medium-term program, which is aligned to the Poverty Reduction Strategy Paper (PRSP) policy agenda, offers a strong framework for Mali to implement its poverty reduction strategy, pursue fiscal consolidation, and continue the reform process. The IMF staff also notes the progress made in implementing the PRSP, as indicated in the first annual progress report.
This report summarizes the sixth review of the economic program of Mali under the Poverty Reduction and Growth Facility (PRGF) and assesses the progress made in adjusting the economy. The Malian authorities continued to make good progress in implementing the IMF program, under difficult conditions. Executive Directors stressed the need for prudent macroeconomic policies and structural reforms. They emphasized the need to enhance private sector competitiveness, liberalize the cotton sector, and promote good governance.
This paper examines Senegal’s 2002 Article IV Consultation and Requests for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and for Additional Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries. Overall, economic developments in 2002 were mixed. Real GDP growth decelerated to 2.4 percent in 2002 on account of a sharp weather-related drop in agricultural output. The IMF staff supports the government’s reform strategies in the electricity and groundnut sectors, as well as the ongoing reforms in the postal, and public and private pension systems.
This paper presents the Joint Staff Assessment of the Poverty Reduction Strategy Paper (PRSP) for Mali. The PRSP finalized by the Malian authorities in May 2002 presents a credible policy framework to reduce poverty. The PRSP acknowledges the need for further work to systematize participation and consensus building in the management of public affairs and to strengthen and sustain the consultation process with the poor. The authorities have started addressing these needs by reorienting the working groups and other institutional structures that prepared the PRSP.
This paper evaluates Mali’s Fifth Review Under the Poverty Reduction and Growth Facility. The implementation of the program was satisfactory in the first nine months of 2002. All the quantitative performance criteria, benchmarks, and financial performance indicators were observed. The structural performance criteria and structural benchmarks for 2002 were met, except for one structural benchmark that was implemented late and an additional one that will be implemented in June 2003. The authorities intend to implement the ambitious medium-term economic framework and adjustment path underpinning the poverty reduction strategy adopted in May 2002.
This paper examines Mali’s Fourth Review Under the Poverty Reduction and Growth Facility (PRGF) Arrangement and Request for Waiver of Performance Criteria. The implementation of the PRGF-supported program was satisfactory in 2001. All the end-December 2001 and end-March 2002 quantitative performance criteria and benchmarks were observed. However, two structural performance criteria for end-December 2001 that concerned the cotton sector were not observed. Real GDP is expected to grow by 9.3 percent in 2002, compared with the 6.7 percent anticipated under the original program.
This paper examines Mali’s 2001 Article IV Consultation, Third Review Under the Poverty Reduction and Growth Facility (PRGF), Third Annual Program, and Request for Modification of Performance Criteria. Program implementation to date has been satisfactory, with all quantitative performance criteria and benchmarks observed through end-July 2001. For the last quarter of 2001, a shortfall is envisaged in program financing, and the bulk of expected budgetary assistance will be disbursed at the end of 2001.