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International Monetary Fund. Fiscal Affairs Dept.
This paper discusses Malian mining taxation. Mali’s industrial mining sector is predominantly gold mining, with six industrial mines currently active. Most of the mines are old, but some have substantial reserves; extensions are planned for the Syama, Morila, Kalama, Tabakoto-Segela, and Loulo-Gounkoto mines. The Fiscal Analysis for Resource Industries model was completed for five new projects with recent feasibility studies. The government revenue contributed by the five new projects is on the order of US$1.7 billion (constant dollars) over the next 10 years. The application of the 1999 or 2012 Mining Code increases the government’s share of income in comparison with the 1991 code.
International Monetary Fund. African Dept.
This Technical Assistance Report discusses key findings of the assessment of Mali’s mining and petroleum taxation. It is highlighted that the transparency of the mining or petroleum sector in Mali could be improved through the online publication of agreements signed with operating companies and their feasibility studies. The establishment of a standardized framework for the economic analysis of mining and petroleum project feasibility studies would improve governance in the natural resources sector. It is also recommended to establish the ring-fencing principle in a revised Mining Code and in the draft Petroleum Code.
International Monetary Fund. African Dept.

This Selected Issues paper examines growth, structural transformation, and diversification in Mali. At present, the majority of Mali's population is employed in low-productivity agriculture, and the secondary sector is underdeveloped. Further structural transformation and diversification of output and exports could thus yield significant growth dividends, but will be challenging in the context of a rapid projected increase in the workforce over coming decades, much of which would need to be absorbed by the agricultural sector. Policies could focus on easing the constraints to structural transformation in key areas such as education and the business climate, as well as devising a clear strategy for tackling the challenges posed by rapid population growth.

International Monetary Fund

The Growth and Poverty Reduction Strategy Paper III (GPRS-III) will provide a framework for the government’s economic, financial, and sectoral policies for the period 2012–17. All performance criteria (PC) and indicative targets through end-December were observed, except for the indicative target on priority spending, which was missed by a small margin. All measures subject to end-year structural benchmarks were observed except one, on which the authorities are making good progress. The authorities plan to continue implementing stability-oriented macroeconomic policies and growth-enhancing and poverty-reducing policies. The Millennium Development Goals (MDGs) were achieved.

International Monetary Fund

As a result of the Enhanced Highly Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI), Mali’s stock of external debt has declined significantly. The central feature of Mali’s medium- and long-term macroeconomic outlook is the steady decline of annual gold production expected to be picked up only in part by other exports. Under baseline assumptions, all external debt and debt-service ratios remain below the policy-dependent thresholds throughout the projection period. Fiscal policy continues to be cautious.

International Monetary Fund

As a result of the Enhanced Highly Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI), Mali’s stock of external debt has declined significantly. The central feature of Mali’s medium- and long-term macroeconomic outlook is the steady decline of annual gold production expected to be picked up only in part by other exports. Under baseline assumptions, all external debt and debt-service ratios remain below the policy-dependent thresholds throughout the projection period. Fiscal policy continues to be cautious.