Mali: Statistical Annex

International Monetary Fund

doi:10.5089/9781451826210.002.A001

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Mali

Statistical Annex

Author:

International Monetary Fund

International Monetary Fund
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Publication Date:: 11 Feb 1998

eISBN:: 9781451826210

Language:: English

Keywords:: ISCR; CR; fund; BCEAO bond; BCEAO; fund staff estimate; long-term credit; sight deposit; stabilization fund; BCEAO headquarters; base salary

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In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Abstract

Table 1.

Mali: Gross Domestic Product at Constant 1987 Prices, 1991-96 ^1/

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

^{^1/}Data may not add up because of rounding.

^{^2/}Includes cotton, groundnuts, tobacco, fruits, vegetables, and others. Cotton accounted for approximately 85 percent at the total over the period 1991-96.

Table 1.

Mali: Gross Domestic Product at Constant 1987 Prices, 1991-96 ^1/

		1991	1992	1993	1994	1995	1996
				Estimates
		(In billions of CFA francs)
Primary sector		289.6	333.6	305.3	328.2	358.0	362.1
	Food crops	113.9	156.3	119.0	142.9	159.9	147.1
	Industrial crops ^2/	49.4	49.4	52.9	44.4	53.2	63.8
	Livestock	83.0	83.7	88.0	93.3	96.1	100.9
	Fishing	9.5	9.4	9.4	9.8	10.0	10.2
	Forestry	33.8	34.8	36.0	37.8	38.8	40.1
Secondary sector		104.1	109.2	113.4	114.6	123.5	134.3
	Industry	40.0	44.3	46.9	47.8	51.4	54.3
	Mining	14.2	15.5	15.4	14.0	15.4	17.8
	Handicrafts	17.5	16.1	16.8	17.3	18.0	19.3
	Construction and public works	32.4	33.3	34.3	35.5	38.7	42.9
Tertiary sector		226.3	233.1	240.6	234.6	238.8	252.1
	Transportation	32.4	32.2	33.3	32.4	33.1	34.9
	Trade	105.5	113.1	117.6	116.8	120.2	127.4
	Other services	43.5	44.3	46.2	51.2	53.1	55.8
	Public administration	49.5	48.1	48.1	38.0	36.1	37.6
	Other	-4.6	-4.6	-4.6	-3.8	-3.7	-3.6
GDP (at factor cost)		620.0	675.9	659.3	677.4	720.3	748.5
	Import taxes	35.3	34.0	34.0	31.6	34.2	35.9
GDP (at market prices)		655.3	709.9	693.3	709.0	754.5	784.4
		(Annual percentage change)
Primary sector		-5.4	15.2	-8.5	7.5	9.1	1.1
	Food crops	-18.4	37.2	-23.9	20.1	11.9	-8.0
	Industrial crops ^2/	17.8	0.0	7.1	-16.1	19.8	19.9
	Livestock	-0.4	0.8	5.1	6.0	3.0	5.0
	Fishing	12.7	-1.1	0.0	4.3	2.0	2.0
	Forestry	3.0	3.0	3.4	5.0	2.6	3.4
Secondary sector		12.7	4.9	3.8	1.1	7.8	8.7
	Industry	5.1	10.8	5.9	1.9	7.5	5.6
	Mining	27.6	9.2	-0.6	-9.1	10.0	15.6
	Handicrafts	4.7	-8.0	4.3	3.0	4.0	7.2
	Construction and public works	22.3	2.8	3.0	3.5	9.0	10.9
Tertiary sector		-0.5	3.0	3.2	-2.5	1.8	5.6
	Transportation	7.3	-0.6	3.4	-2.7	2.2	5.4
	Trade	-0.7	7.2	4.0	-0.7	2.9	6.0
	Other services	0.5	1.8	4.3	10.8	3.7	5.1
	Public administration	-5.6	-2.8	0.0	-21.0	-5.0	4.2
	Other	-0.8	0.0	0.0	-17.4	-2.6	-2.7
GDP (at factor cost)		-1.0	9.0	-2.5	2.7	6.3	3.9
	Import taxes	0.1	-3.7	0.0	-7.1	8.2	5.0
GDP (at market prices)		-0.9	8.3	-2.3	2.3	6.4	4.0

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

^{^1/}Data may not add up because of rounding.

^{^2/}Includes cotton, groundnuts, tobacco, fruits, vegetables, and others. Cotton accounted for approximately 85 percent at the total over the period 1991-96.

Table 1.

Mali: Gross Domestic Product at Constant 1987 Prices, 1991-96 ^1/

		1991	1992	1993	1994	1995	1996
				Estimates
		(In billions of CFA francs)
Primary sector		289.6	333.6	305.3	328.2	358.0	362.1
	Food crops	113.9	156.3	119.0	142.9	159.9	147.1
	Industrial crops ^2/	49.4	49.4	52.9	44.4	53.2	63.8
	Livestock	83.0	83.7	88.0	93.3	96.1	100.9
	Fishing	9.5	9.4	9.4	9.8	10.0	10.2
	Forestry	33.8	34.8	36.0	37.8	38.8	40.1
Secondary sector		104.1	109.2	113.4	114.6	123.5	134.3
	Industry	40.0	44.3	46.9	47.8	51.4	54.3
	Mining	14.2	15.5	15.4	14.0	15.4	17.8
	Handicrafts	17.5	16.1	16.8	17.3	18.0	19.3
	Construction and public works	32.4	33.3	34.3	35.5	38.7	42.9
Tertiary sector		226.3	233.1	240.6	234.6	238.8	252.1
	Transportation	32.4	32.2	33.3	32.4	33.1	34.9
	Trade	105.5	113.1	117.6	116.8	120.2	127.4
	Other services	43.5	44.3	46.2	51.2	53.1	55.8
	Public administration	49.5	48.1	48.1	38.0	36.1	37.6
	Other	-4.6	-4.6	-4.6	-3.8	-3.7	-3.6
GDP (at factor cost)		620.0	675.9	659.3	677.4	720.3	748.5
	Import taxes	35.3	34.0	34.0	31.6	34.2	35.9
GDP (at market prices)		655.3	709.9	693.3	709.0	754.5	784.4
		(Annual percentage change)
Primary sector		-5.4	15.2	-8.5	7.5	9.1	1.1
	Food crops	-18.4	37.2	-23.9	20.1	11.9	-8.0
	Industrial crops ^2/	17.8	0.0	7.1	-16.1	19.8	19.9
	Livestock	-0.4	0.8	5.1	6.0	3.0	5.0
	Fishing	12.7	-1.1	0.0	4.3	2.0	2.0
	Forestry	3.0	3.0	3.4	5.0	2.6	3.4
Secondary sector		12.7	4.9	3.8	1.1	7.8	8.7
	Industry	5.1	10.8	5.9	1.9	7.5	5.6
	Mining	27.6	9.2	-0.6	-9.1	10.0	15.6
	Handicrafts	4.7	-8.0	4.3	3.0	4.0	7.2
	Construction and public works	22.3	2.8	3.0	3.5	9.0	10.9
Tertiary sector		-0.5	3.0	3.2	-2.5	1.8	5.6
	Transportation	7.3	-0.6	3.4	-2.7	2.2	5.4
	Trade	-0.7	7.2	4.0	-0.7	2.9	6.0
	Other services	0.5	1.8	4.3	10.8	3.7	5.1
	Public administration	-5.6	-2.8	0.0	-21.0	-5.0	4.2
	Other	-0.8	0.0	0.0	-17.4	-2.6	-2.7
GDP (at factor cost)		-1.0	9.0	-2.5	2.7	6.3	3.9
	Import taxes	0.1	-3.7	0.0	-7.1	8.2	5.0
GDP (at market prices)		-0.9	8.3	-2.3	2.3	6.4	4.0

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

^{^1/}Data may not add up because of rounding.

^{^2/}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/

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

^{^1/}Data may not add up because of rounding.

Table 2.

Mali: Origin and Use of Resources, 1991-96 ^1/

			1991	1992	1993	1994	1995	1996
			(In billions of CFA francs)
Gross domestic product			682.1	753.5	755.2	1028.7	1231.0	1360.7
Consumption			638.4	720.0	706.5	955.6	1114.6	1214.1
	Public		99.4	101.0	97.4	124.4	166.3	146.6
	Private		539.0	619.0	609.1	831.1	948.3	1067.5
Domestic savings			43.7	33.5	48.7	73.1	116.5	146.6
Investment			155.6	165.0	165.4	267.5	320.1	360.6
	Public		82.7	71.5	70.3	133.8	154.4	164.2
	Private		72.9	93.5	95.1	133.7	165.7	196.4
Resource gap			-111.9	-131.5	-116.7	-194.4	-203.7	-214.0
	Exports of goods and nonfactor services		124.6	116.5	120.1	225.1	265.1	269.4
	Imports of goods and nonfactor services		-236.5	-248.0	-236.8	-419.5	-468.8	-483.4
			(In percent of GDP)
Gross domestic product			100.0	100.0	100.0	100.0	100.0	100.0
Consumption			93.6	95.6	93.6	92.9	90.5	89.2
	Public		14.6	13.4	12.9	12.1	13.5	10.8
	Private		79.0	82.1	80.7	80.8	77.0	78.5
Domestic savings			6.4	4.4	6.4	7.1	9.5	10.8
Investment			22.8	21.9	21.9	26.0	26.0	26.5
	Public		12.1	9.5	9.3	13.0	12.5	12.1
	Private		10.7	12.4	12.6	13.0	13.5	14.4
Resource gap			-16.4	-17.5	-15.5	-18.9	-16.5	-15.7
	Exports of goods and nonfactor services		18.3	15.5	15.9	21.9	21.5	19.8
	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 transfers	19.7	19.6	26.5	47.1	47.8	46.0
	Official transfers		89.6	94.9	67.3	136.9	111.4	124.1
	Net factor income		-9.0	-10.9	-7.4	-26.4	-32.5	-32.0
	National savings		54.4	42.2	67.8	90.0	139.9	157.4
			(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 transfers	2.9	2.6	3.5	4.6	3.9	3.4
	Official transfers		13.1	12.6	8.9	13.3	9.0	9.1
	Net factor income		-1.3	-1.4	-1.0	-2.6	-2.6	-2.4
	National savings		8.0	5.6	9.0	8.7	11.4	11.6

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

^{^1/}Data may not add up because of rounding.

Table 2.

Mali: Origin and Use of Resources, 1991-96 ^1/

			1991	1992	1993	1994	1995	1996
			(In billions of CFA francs)
Gross domestic product			682.1	753.5	755.2	1028.7	1231.0	1360.7
Consumption			638.4	720.0	706.5	955.6	1114.6	1214.1
	Public		99.4	101.0	97.4	124.4	166.3	146.6
	Private		539.0	619.0	609.1	831.1	948.3	1067.5
Domestic savings			43.7	33.5	48.7	73.1	116.5	146.6
Investment			155.6	165.0	165.4	267.5	320.1	360.6
	Public		82.7	71.5	70.3	133.8	154.4	164.2
	Private		72.9	93.5	95.1	133.7	165.7	196.4
Resource gap			-111.9	-131.5	-116.7	-194.4	-203.7	-214.0
	Exports of goods and nonfactor services		124.6	116.5	120.1	225.1	265.1	269.4
	Imports of goods and nonfactor services		-236.5	-248.0	-236.8	-419.5	-468.8	-483.4
			(In percent of GDP)
Gross domestic product			100.0	100.0	100.0	100.0	100.0	100.0
Consumption			93.6	95.6	93.6	92.9	90.5	89.2
	Public		14.6	13.4	12.9	12.1	13.5	10.8
	Private		79.0	82.1	80.7	80.8	77.0	78.5
Domestic savings			6.4	4.4	6.4	7.1	9.5	10.8
Investment			22.8	21.9	21.9	26.0	26.0	26.5
	Public		12.1	9.5	9.3	13.0	12.5	12.1
	Private		10.7	12.4	12.6	13.0	13.5	14.4
Resource gap			-16.4	-17.5	-15.5	-18.9	-16.5	-15.7
	Exports of goods and nonfactor services		18.3	15.5	15.9	21.9	21.5	19.8
	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 transfers	19.7	19.6	26.5	47.1	47.8	46.0
	Official transfers		89.6	94.9	67.3	136.9	111.4	124.1
	Net factor income		-9.0	-10.9	-7.4	-26.4	-32.5	-32.0
	National savings		54.4	42.2	67.8	90.0	139.9	157.4
			(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 transfers	2.9	2.6	3.5	4.6	3.9	3.4
	Official transfers		13.1	12.6	8.9	13.3	9.0	9.1
	Net factor income		-1.3	-1.4	-1.0	-2.6	-2.6	-2.4
	National savings		8.0	5.6	9.0	8.7	11.4	11.6

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

^{^1/}Data may not add up because of rounding.

Table 3.

Mali: Agricultural Production, Marketing, and Official Producer Prices, 1990/91-1996/97 ^1/

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

^{^1/}The crop year is April/March; the marketing year is November/October.

^{^2/}Except for cotton, the marketing of agricultural products by official agencies was discontinued in 1995.

^{^3/}Floor price of first quality cotton.

Table 3.

Mali: Agricultural Production, Marketing, and Official Producer Prices, 1990/91-1996/97 ^1/

		1990/91	1991/92	1992/93	1993/94	1994/95	1995/96	1996/97
								Prel.
		(In thousands of metric tons)
Production (gross)
	Cotton	317	313	353	276	315	406	452
	Groundnuts	178	184	127	148	215	157	134
	Millet/sorghum/maize	1,465	1,917	1,377	1,768	1,966	1,681	1,569
	Paddy rice	282	454	410	428	469	463	614
Marketing ^2/
	Cotton	276	272	307	240	277	364	370
	Groundnuts	3	7	3	…	9	…	…
	Millet/sorghum/maize	9	49	11	3	1	…	…
	Paddy rice	22	47	28	9	2	…	…
		(In CFA francs per kilogram)
Official producer prices
	Cotton ^3/	85	85	85	85	125	125	125
	Paddy rice	70	70	70	78	94	124	135

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

^{^1/}The crop year is April/March; the marketing year is November/October.

^{^2/}Except for cotton, the marketing of agricultural products by official agencies was discontinued in 1995.

^{^3/}Floor price of first quality cotton.

Table 3.

Mali: Agricultural Production, Marketing, and Official Producer Prices, 1990/91-1996/97 ^1/

		1990/91	1991/92	1992/93	1993/94	1994/95	1995/96	1996/97
								Prel.
		(In thousands of metric tons)
Production (gross)
	Cotton	317	313	353	276	315	406	452
	Groundnuts	178	184	127	148	215	157	134
	Millet/sorghum/maize	1,465	1,917	1,377	1,768	1,966	1,681	1,569
	Paddy rice	282	454	410	428	469	463	614
Marketing ^2/
	Cotton	276	272	307	240	277	364	370
	Groundnuts	3	7	3	…	9	…	…
	Millet/sorghum/maize	9	49	11	3	1	…	…
	Paddy rice	22	47	28	9	2	…	…
		(In CFA francs per kilogram)
Official producer prices
	Cotton ^3/	85	85	85	85	125	125	125
	Paddy rice	70	70	70	78	94	124	135

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

^{^1/}The crop year is April/March; the marketing year is November/October.

^{^2/}Except for cotton, the marketing of agricultural products by official agencies was discontinued in 1995.

^{^3/}Floor price of first quality cotton.

Table 4.

Mali: Cereals--Cultivated Area and Rainfall, 1990/91-1996/97

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

^{^1/}Deviation in percent from the annual average of the 1960-90 period.

^{^2/}The rainfall is measured for the specific area where each cereal is grown.

Table 4.

Mali: Cereals--Cultivated Area and Rainfall, 1990/91-1996/97

			Average 1960-90	1990/91	1991/92	1992/93	1993/94	1994/95	1995/96	1996/97
			Average 1960-90							Prel.
			(In thousands of hectares)
Cultivated area
	Millet/sorghum		1,423	2,022	1,685	1,994	2,377	2,380	2,137	1476
		Deviation ^1/		42	18	40	67	67	50	4
	Maize		97	170	186	192	257	284	205	181
		Deviation ^1/		75	92	98	165	193	172	87
	Paddy rice		159	197	209	196	246	284	303	324
		Deviation ^1/		24	31	23	54	78	90	104
			(In millimeters; April-October) ^2/
Rainfall
	Millet/sorghum		720	645	636	649	553	593	525	…
		Deviation ^1/		-10	-12	-10	-23	-18	-27	…
	Maize		880	940	1,346	1,382	1,148	1,208	1,033	…
		Deviation ^1/		-7	-53	-57	-30	-37	-17	…
	Paddy rice		557	501	376	425	358	386	399	…
		Deviation ^1/		-10	-33	-24	-36	-31	-28	…

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

^{^1/}Deviation in percent from the annual average of the 1960-90 period.

^{^2/}The rainfall is measured for the specific area where each cereal is grown.

Table 4.

Mali: Cereals--Cultivated Area and Rainfall, 1990/91-1996/97

			Average 1960-90	1990/91	1991/92	1992/93	1993/94	1994/95	1995/96	1996/97
			Average 1960-90							Prel.
			(In thousands of hectares)
Cultivated area
	Millet/sorghum		1,423	2,022	1,685	1,994	2,377	2,380	2,137	1476
		Deviation ^1/		42	18	40	67	67	50	4
	Maize		97	170	186	192	257	284	205	181
		Deviation ^1/		75	92	98	165	193	172	87
	Paddy rice		159	197	209	196	246	284	303	324
		Deviation ^1/		24	31	23	54	78	90	104
			(In millimeters; April-October) ^2/
Rainfall
	Millet/sorghum		720	645	636	649	553	593	525	…
		Deviation ^1/		-10	-12	-10	-23	-18	-27	…
	Maize		880	940	1,346	1,382	1,148	1,208	1,033	…
		Deviation ^1/		-7	-53	-57	-30	-37	-17	…
	Paddy rice		557	501	376	425	358	386	399	…
		Deviation ^1/		-10	-33	-24	-36	-31	-28	…

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

^{^1/}Deviation in percent from the annual average of the 1960-90 period.

^{^2/}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)

Source: Data provided by the Malian authorities.

^{^1/}Free market prices represent the average of prices prevailing in the 13 markets of Bamako

Table 5.

Mali: Quarterly Retail Prices for Cereals, 1990-97 ^1/

(In CFA francs per kilogram)

	Millet/Sorghum	Maize	Rice (RM 40)
Annual averages
1990	90.9	82.0	196.3
1991	89.0	81.3	207.0
1992	76.5	74.3	188.3
1993	81.5	76.0	185.0
1994	77.3	75.5	218.8
1995	109.6	114.8	258.8
1996	151.3	139.3	266.5
1990
I	70.0	68.0	179.0
II	80.5	74.0	184.0
III	102.0	91.0	202.0
IV	111.0	95.0	220.0
1991
I	101.0	91.0	220.0
II	95.0	80.0	208.0
III	80.0	80.0	200.0
IV	80.0	74.0	200.0
1992
I	75.0	76.0	191.0
II	75.0	75.0	189.0
III	76.0	75.0	189.0
IV	73.0	71.0	184.0
1993
I	72.7	69.3	183.0
II	78.5	72.7	181.7
III	94.3	87.0	188.0
IV	81.3	73.0	188.7
1994
I	76.0	72.0	195.0
II	76.5	74.0	206.0
III	78.0	79.0	234.0
IV	78.5	77.0	240.0
1995
I	88.0	98.0	227.0
II	91.5	112.0	264.0
III	132.0	127.0	274.0
IV	127.0	122.0	270.0
1996
I	114.0	114.0	254.0
II	151.0	144.0	277.0
III	184.0	172.0	285.0
IV	156.0	127.0	250.0
1997
I	127.0	123.0	248.0
II	125.0	124.0	241.0

Source: Data provided by the Malian authorities.

^{^1/}Free market prices represent the average of prices prevailing in the 13 markets of Bamako

Table 5.

Mali: Quarterly Retail Prices for Cereals, 1990-97 ^1/

(In CFA francs per kilogram)

	Millet/Sorghum	Maize	Rice (RM 40)
Annual averages
1990	90.9	82.0	196.3
1991	89.0	81.3	207.0
1992	76.5	74.3	188.3
1993	81.5	76.0	185.0
1994	77.3	75.5	218.8
1995	109.6	114.8	258.8
1996	151.3	139.3	266.5
1990
I	70.0	68.0	179.0
II	80.5	74.0	184.0
III	102.0	91.0	202.0
IV	111.0	95.0	220.0
1991
I	101.0	91.0	220.0
II	95.0	80.0	208.0
III	80.0	80.0	200.0
IV	80.0	74.0	200.0
1992
I	75.0	76.0	191.0
II	75.0	75.0	189.0
III	76.0	75.0	189.0
IV	73.0	71.0	184.0
1993
I	72.7	69.3	183.0
II	78.5	72.7	181.7
III	94.3	87.0	188.0
IV	81.3	73.0	188.7
1994
I	76.0	72.0	195.0
II	76.5	74.0	206.0
III	78.0	79.0	234.0
IV	78.5	77.0	240.0
1995
I	88.0	98.0	227.0
II	91.5	112.0	264.0
III	132.0	127.0	274.0
IV	127.0	122.0	270.0
1996
I	114.0	114.0	254.0
II	151.0	144.0	277.0
III	184.0	172.0	285.0
IV	156.0	127.0	250.0
1997
I	127.0	123.0	248.0
II	125.0	124.0	241.0

Source: Data provided by the Malian authorities.

^{^1/}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

Source: Data provided by the Malian authorities.

^{^1/}The marketing of rice by the Office du Niger has stopped since the 1993/94 crop year, following the reform of the institution.

Table 6.

Mali: Office du Niger: Indicators of Activity, 1989/90-1996/97

		Production
	Cultivated land	Paddy Rice
	Rice	Harvested	Marketed by O.N.
	(In hectares)	(In metric tons)
1989/90	44,207	125,025	56,563
1990/91	45,168	130,670	18,166
1991/92	46,034	183,418	42,418
1992/93	44,843	208,541	27,000
1993/94	45,442	210,000	0.0 ^1/
1994/95	46,740	209,979	0.0 ^1/
1995/96	50,911	238,803	0.0 ^1/
1996/97	54,102	267,980	0.0 ^1/

Source: Data provided by the Malian authorities.

^{^1/}The marketing of rice by the Office du Niger has stopped since the 1993/94 crop year, following the reform of the institution.

Table 6.

Mali: Office du Niger: Indicators of Activity, 1989/90-1996/97

		Production
	Cultivated land	Paddy Rice
	Rice	Harvested	Marketed by O.N.
	(In hectares)	(In metric tons)
1989/90	44,207	125,025	56,563
1990/91	45,168	130,670	18,166
1991/92	46,034	183,418	42,418
1992/93	44,843	208,541	27,000
1993/94	45,442	210,000	0.0 ^1/
1994/95	46,740	209,979	0.0 ^1/
1995/96	50,911	238,803	0.0 ^1/
1996/97	54,102	267,980	0.0 ^1/

Source: Data provided by the Malian authorities.

^{^1/}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)

Source: Data provided by the Malian authorities.

^{^1/}Data may not add up because of rounding.

Table 7.

Mali: Implementation of the Public Investment Program, 1991-96 ^1/

(in billions of CFA francs)

			1991	1992	1993	1994	1995	1996
Rural development			27.6	29.9	27.8	44.1	53.1	57.8
	Agriculture		21.7	24.9	22.5	35.8	43.1	45.8
	Livestock		2.9	2.3	2.5	3.5	4.3	5.0
	Fisheries		0.1	0.1	0.0	0.0	0.1	0.1
	Forestry		2.8	2.6	2.8	4.7	5.7	6.9
Secondary sector			9.4	9.1	6.6	23.1	20.9	26.0
	Mines and geology		0.5	0.6	0.8	1.1	0.5	1.2
	Water		3.1	6.1	3.5	14.5	13.4	16.9
	Energy		5.2	2.4	2.2	7.3	6.9	7.6
	Industry and handicrafts		0.4	0.1	0.0	0.2	0.2	0.3
	Tourism		0.0	0.0	0.0	0.0	0.0	0.0
Infrastructure			9.8	13.1	17.8	20.8	24.2	32.2
	Roads		5.2	7.6	11.1	8.9	13.1	21.7
	Railroads		0.1	1.2	0.5	1.6	0.1	0.0
	Air transport and metereology		0.5	0.9	0.8	0.7	0.6	0.2
	Post and telecommunications		2.3	1.0	1.2	1.9	3.8	3.4
	Surveying and mapping		0.0	0.0	0.1	0.0	0.1	0.2
	Buildings and equipment		0.5	0.9	2.4	5.6	4.6	5.2
	Urban development and housin		1.1	1.4	1.7	2.0	1.7	1.2
	Transport and storage		0.0	0.1	0.0	0.0	0.2	0.4
Human resources			9.1	10.9	13.6	33.8	39.2	45.8
	Employment		1.2	1.3	3.0	4.2	6.7	7.1
	Education		1.7	4.3	3.0	7.6	9.9	9.4
	Sports, arts, and culture		0.3	0.2	0.1	0.4	0.4	0.4
	Health		4.5	3.5	4.0	11.0	11.8	13.7
	Information		0.5	0.5	0.6	1.0	0.6	1.1
	Administration		0.9	1.1	2.9	9.6	9.9	14.1
		Total	55.9	63.0	65.8	121.8	137.4	161.9

Source: Data provided by the Malian authorities.

^{^1/}Data may not add up because of rounding.

Table 7.

Mali: Implementation of the Public Investment Program, 1991-96 ^1/

(in billions of CFA francs)

			1991	1992	1993	1994	1995	1996
Rural development			27.6	29.9	27.8	44.1	53.1	57.8
	Agriculture		21.7	24.9	22.5	35.8	43.1	45.8
	Livestock		2.9	2.3	2.5	3.5	4.3	5.0
	Fisheries		0.1	0.1	0.0	0.0	0.1	0.1
	Forestry		2.8	2.6	2.8	4.7	5.7	6.9
Secondary sector			9.4	9.1	6.6	23.1	20.9	26.0
	Mines and geology		0.5	0.6	0.8	1.1	0.5	1.2
	Water		3.1	6.1	3.5	14.5	13.4	16.9
	Energy		5.2	2.4	2.2	7.3	6.9	7.6
	Industry and handicrafts		0.4	0.1	0.0	0.2	0.2	0.3
	Tourism		0.0	0.0	0.0	0.0	0.0	0.0
Infrastructure			9.8	13.1	17.8	20.8	24.2	32.2
	Roads		5.2	7.6	11.1	8.9	13.1	21.7
	Railroads		0.1	1.2	0.5	1.6	0.1	0.0
	Air transport and metereology		0.5	0.9	0.8	0.7	0.6	0.2
	Post and telecommunications		2.3	1.0	1.2	1.9	3.8	3.4
	Surveying and mapping		0.0	0.0	0.1	0.0	0.1	0.2
	Buildings and equipment		0.5	0.9	2.4	5.6	4.6	5.2
	Urban development and housin		1.1	1.4	1.7	2.0	1.7	1.2
	Transport and storage		0.0	0.1	0.0	0.0	0.2	0.4
Human resources			9.1	10.9	13.6	33.8	39.2	45.8
	Employment		1.2	1.3	3.0	4.2	6.7	7.1
	Education		1.7	4.3	3.0	7.6	9.9	9.4
	Sports, arts, and culture		0.3	0.2	0.1	0.4	0.4	0.4
	Health		4.5	3.5	4.0	11.0	11.8	13.7
	Information		0.5	0.5	0.6	1.0	0.6	1.1
	Administration		0.9	1.1	2.9	9.6	9.9	14.1
		Total	55.9	63.0	65.8	121.8	137.4	161.9

Source: Data provided by the Malian authorities.

^{^1/}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)

Source: Data provided by the Malian authorities.

^{^1/}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.

^{^2/}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)

			1994	1995	1996	1997	1998-2000
							Existing Commitments
Rural development			56.7	67.1	65.9	68.0	152.1
	Agriculture		41.1	53.5	52.8	54.0	131.1
	Livestock		8.8	7.4	7.7	8.0	11.4
	Fisheries		0.0	0.1	0.1	0.0	2.1
	Forestry		6.8	6.1	5.3	6.0	7.5
Secondary sector			21.7	27.4	27.4	29.4	146.1
	Mines		1.9	1.4	1.1	1.2	1.6
	Water		11.7	12.1	12.4	13.0	48.0
	Energy		8.0	13.6	13.6	15.0	95.6
	Industry		0.0	0.1	0.1	0.1	1.0
	Tourism		0.1	0.1	0.2	0.1	0.0
Infrastructure			21.8	30.1	34.9	38.7	164.0
	Roads		10.8	20.5	26.2	28.0	70.4
	Railroads		1.8	2.6	4.9	6.2	9.6
	Air transport		1.2	0.8	0.3	0.0	10.0
	Post & telecommunication		2.6	2.8	1.5	2.0	9.7
	Surveying		0.1	0.1	0.0	0.0	0.3
	Buildings		3.5	2.7	1.7	2.0	9.9
	Urban development		1.8	0.3	0.0	0.0	49.3
	Transport and storage		0.0	0.2	0.3	0.5	4.8
Human resources			36.1	42.7	36.0	42.2	77.3
	Employment		5.0	3.6	3.6	4.8	1.1
	Education		9.0	9.5	8.1	9.0	25.3
	Sports, arts		0.4	0.3	0.1	0.4	0.6
	Health		11.5	16.6	17.8	20.0	21.1
	Information		0.8	1.0	1.8	2.0	6.9
	Administration		9.4	11.5	4.6	6.0	22.2
		Total	136.4	167.3	164.2	178.3	539.7
Financing			136.4	167.3	164.2	178.3	539.7
	External financing		112.5	140.8	137.3	144.0	443.2
		Loans	56.0	74.2	67.5	78.0	262.0
		Grants	56.5	66.6	69.8	66.0	181.1
	Domestic financing		23.9	26.5	26.9	34.3	96.4
		Budget	17.6	20.0	18.6	24.3	54.0
		Self-financing	5.0	5.2	6.5	8.0	33.1
		Other	1.2	1.3	1.8	2.0	9.4

Source: Data provided by the Malian authorities.

^{^1/}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.

^{^2/}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)

			1994	1995	1996	1997	1998-2000
							Existing Commitments
Rural development			56.7	67.1	65.9	68.0	152.1
	Agriculture		41.1	53.5	52.8	54.0	131.1
	Livestock		8.8	7.4	7.7	8.0	11.4
	Fisheries		0.0	0.1	0.1	0.0	2.1
	Forestry		6.8	6.1	5.3	6.0	7.5
Secondary sector			21.7	27.4	27.4	29.4	146.1
	Mines		1.9	1.4	1.1	1.2	1.6
	Water		11.7	12.1	12.4	13.0	48.0
	Energy		8.0	13.6	13.6	15.0	95.6
	Industry		0.0	0.1	0.1	0.1	1.0
	Tourism		0.1	0.1	0.2	0.1	0.0
Infrastructure			21.8	30.1	34.9	38.7	164.0
	Roads		10.8	20.5	26.2	28.0	70.4
	Railroads		1.8	2.6	4.9	6.2	9.6
	Air transport		1.2	0.8	0.3	0.0	10.0
	Post & telecommunication		2.6	2.8	1.5	2.0	9.7
	Surveying		0.1	0.1	0.0	0.0	0.3
	Buildings		3.5	2.7	1.7	2.0	9.9
	Urban development		1.8	0.3	0.0	0.0	49.3
	Transport and storage		0.0	0.2	0.3	0.5	4.8
Human resources			36.1	42.7	36.0	42.2	77.3
	Employment		5.0	3.6	3.6	4.8	1.1
	Education		9.0	9.5	8.1	9.0	25.3
	Sports, arts		0.4	0.3	0.1	0.4	0.6
	Health		11.5	16.6	17.8	20.0	21.1
	Information		0.8	1.0	1.8	2.0	6.9
	Administration		9.4	11.5	4.6	6.0	22.2
		Total	136.4	167.3	164.2	178.3	539.7
Financing			136.4	167.3	164.2	178.3	539.7
	External financing		112.5	140.8	137.3	144.0	443.2
		Loans	56.0	74.2	67.5	78.0	262.0
		Grants	56.5	66.6	69.8	66.0	181.1
	Domestic financing		23.9	26.5	26.9	34.3	96.4
		Budget	17.6	20.0	18.6	24.3	54.0
		Self-financing	5.0	5.2	6.5	8.0	33.1
		Other	1.2	1.3	1.8	2.0	9.4

Source: Data provided by the Malian authorities.

^{^1/}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.

^{^2/}Data may not add up because of rounding.

Table 9.

Mali: Livestock Exports, Slaughtering, and Herd Size, 1991-95

(In thousands of head)

Source: Data provided by the Malian authorities.

^{^1/}Provisional data.

Table 9.

Mali: Livestock Exports, Slaughtering, and Herd Size, 1991-95

(In thousands of head)

		1991		1992		1993		1994		1995 ^1/
		Cattle	Sheep and goats	Cattle	Sheep and goats	Cattle	Sheep and goats	Cattle	Sheep and goats	Cattle	Sheep and goats
Exports		190	410	195	450	205	272	440	738	418	925
	Controlled	43	164	59	213	41	128	176	340	107	426
	Uncontrolled	147	246	136	237	164	144	264	398	311	499
Slaughtering		425	1980	555	2013	528	1950	531	1912	547	2007
	Controlled	169	336	193	335	185	312	186	306	192	321
	Uncontrolled	256	1,644	362	1,678	343	1,638	345	1,606	355	1,686
Estimated herd size (end of period)		5,092	10,899	5,245	11,450	5,380	11,954	5,542	12,552	5,708	13,179
Memorandum items:
	Net birth rate	711	3,117	903	3,014	868	2,726	1,132	3,248	1,131	3,560
	Offtake rates (in percent)	10.8	15.6	12.5	17.7	12.0	15.7	14.9	17.4	14.5	18.2

Source: Data provided by the Malian authorities.

^{^1/}Provisional data.

Table 9.

Mali: Livestock Exports, Slaughtering, and Herd Size, 1991-95

(In thousands of head)

		1991		1992		1993		1994		1995 ^1/
		Cattle	Sheep and goats	Cattle	Sheep and goats	Cattle	Sheep and goats	Cattle	Sheep and goats	Cattle	Sheep and goats
Exports		190	410	195	450	205	272	440	738	418	925
	Controlled	43	164	59	213	41	128	176	340	107	426
	Uncontrolled	147	246	136	237	164	144	264	398	311	499
Slaughtering		425	1980	555	2013	528	1950	531	1912	547	2007
	Controlled	169	336	193	335	185	312	186	306	192	321
	Uncontrolled	256	1,644	362	1,678	343	1,638	345	1,606	355	1,686
Estimated herd size (end of period)		5,092	10,899	5,245	11,450	5,380	11,954	5,542	12,552	5,708	13,179
Memorandum items:
	Net birth rate	711	3,117	903	3,014	868	2,726	1,132	3,248	1,131	3,560
	Offtake rates (in percent)	10.8	15.6	12.5	17.7	12.0	15.7	14.9	17.4	14.5	18.2

Source: Data provided by the Malian authorities.

^{^1/}Provisional data.

Table 10.

Mali: Index of Industrial Production, 1991-96

Source: Data provided by the Malian authorities.

Table 10.

Mali: Index of Industrial Production, 1991-96

	1991	1992	1993	1994	1995	1996
						Prel.
	(Index: 1983 = 100)
Chemicals and construction materials	115.3	120.7	114.1	116.8	127.5	139.7
Energy and machinery	171.0	180.0	158.6	174.7	211.8	224.9
Food processing	124.4	150.6	130.4	134.3	133.7	142.5
Textiles	109.2	155.0	176.9	149.0	166.6	180.4
Overall index	125.0	153.6	135.3	143.6	155.9	167.4
	(Percentage change)
Chemicals and construction materials	-20.8	4.7	-5.5	2.4	9.2	9.6
Energy and machinery	0.6	5.3	-11.9	10.2	21.2	6.2
Food processing	-13.3	21.1	-13.4	3.0	-0.4	6.6
Textiles	-20.4	41.9	14.1	-15.8	11.8	8.3
Overall index	-14.0	22.9	-11.9	6.1	8.6	7.4

Source: Data provided by the Malian authorities.

Table 10.

Mali: Index of Industrial Production, 1991-96

	1991	1992	1993	1994	1995	1996
						Prel.
	(Index: 1983 = 100)
Chemicals and construction materials	115.3	120.7	114.1	116.8	127.5	139.7
Energy and machinery	171.0	180.0	158.6	174.7	211.8	224.9
Food processing	124.4	150.6	130.4	134.3	133.7	142.5
Textiles	109.2	155.0	176.9	149.0	166.6	180.4
Overall index	125.0	153.6	135.3	143.6	155.9	167.4
	(Percentage change)
Chemicals and construction materials	-20.8	4.7	-5.5	2.4	9.2	9.6
Energy and machinery	0.6	5.3	-11.9	10.2	21.2	6.2
Food processing	-13.3	21.1	-13.4	3.0	-0.4	6.6
Textiles	-20.4	41.9	14.1	-15.8	11.8	8.3
Overall index	-14.0	22.9	-11.9	6.1	8.6	7.4

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)

Source: Data provided by the Malian authorities.

^{^1/}Weighted total.

Table 11.

Mali: Quarterly Index of Consumer Prices in Bamako, 1994-97

(Index: July 1986 - June 1987 = 100)

		1994				1994	1995				1995	1996				1996	1997
		I	II	III	IV	(Annual)	I	II	III	IV	(Annual)	I	II	III	IV	(Annual)	I	II
Food		114.2	123.7	137.1	135.2	127.6	132.1	145.2	153.5	154.1	146.2	149.6	162.2	167.2	158.5	159.4	152.9	156.7
Clothing		114.0	119.3	127.7	129.6	122.6	137.7	147.3	148.0	152.7	146.4	156.1	158.7	157.3	157.4	157.4	156	156.2
Housing, water, and energy		121.5	124.9	126.5	129.6	125.6	131.8	135.7	136.4	133.2	134.3	132.8	137.7	133.1	132.0	133.9	138.5	132.2
Furniture and household articles		128.9	138.1	137.9	138.4	135.8	138.2	141.2	143.1	145.1	141.9	144.1	145.0	146.5	145.8	145.3	146.2	148.3
Health		125.6	137.8	142.8	144.6	137.7	144.5	150.8	155.7	156.6	151.9	156.8	159.0	165.1	165.2	161.5	165.2	166.1
Transport and communications		128.9	146.7	151.1	153.0	139.8	153.1	154.4	154.8	154.6	154.2	154.6	154.3	154.2	154.2	154.3	154.2	154.5
Leisure and entertainment		129.7	141.5	148.3	149.5	142.3	150.9	149.6	151.0	151.5	150.8	155.6	158.1	158.1	157.6	157.3	157.6	157.9
Other goods and services		134.5	141.2	151.8	152.7	145.1	152.8	155.1	155.0	160.1	155.7	164.2	172.0	174.4	176.0	171.7	179.1	179.6
	Total ^1/	118.6	128.2	137.9	137.7	130.6	137.3	146.4	151.2	152.1	146.8	150.3	158.2	160.6	155.8	156.2	153.3	155

Source: Data provided by the Malian authorities.

^{^1/}Weighted total.

Table 11.

Mali: Quarterly Index of Consumer Prices in Bamako, 1994-97

(Index: July 1986 - June 1987 = 100)

		1994				1994	1995				1995	1996				1996	1997
		I	II	III	IV	(Annual)	I	II	III	IV	(Annual)	I	II	III	IV	(Annual)	I	II
Food		114.2	123.7	137.1	135.2	127.6	132.1	145.2	153.5	154.1	146.2	149.6	162.2	167.2	158.5	159.4	152.9	156.7
Clothing		114.0	119.3	127.7	129.6	122.6	137.7	147.3	148.0	152.7	146.4	156.1	158.7	157.3	157.4	157.4	156	156.2
Housing, water, and energy		121.5	124.9	126.5	129.6	125.6	131.8	135.7	136.4	133.2	134.3	132.8	137.7	133.1	132.0	133.9	138.5	132.2
Furniture and household articles		128.9	138.1	137.9	138.4	135.8	138.2	141.2	143.1	145.1	141.9	144.1	145.0	146.5	145.8	145.3	146.2	148.3
Health		125.6	137.8	142.8	144.6	137.7	144.5	150.8	155.7	156.6	151.9	156.8	159.0	165.1	165.2	161.5	165.2	166.1
Transport and communications		128.9	146.7	151.1	153.0	139.8	153.1	154.4	154.8	154.6	154.2	154.6	154.3	154.2	154.2	154.3	154.2	154.5
Leisure and entertainment		129.7	141.5	148.3	149.5	142.3	150.9	149.6	151.0	151.5	150.8	155.6	158.1	158.1	157.6	157.3	157.6	157.9
Other goods and services		134.5	141.2	151.8	152.7	145.1	152.8	155.1	155.0	160.1	155.7	164.2	172.0	174.4	176.0	171.7	179.1	179.6
	Total ^1/	118.6	128.2	137.9	137.7	130.6	137.3	146.4	151.2	152.1	146.8	150.3	158.2	160.6	155.8	156.2	153.3	155

Source: Data provided by the Malian authorities.

^{^1/}Weighted total.

Table 12.

Mali: Evolution of Minimum Wages and Salaries in the Public Sector, 1990-96

(In CFA francs per month)

Source: Data provided by the Malian authorities.

Table 12.

Mali: Evolution of Minimum Wages and Salaries in the Public Sector, 1990-96

(In CFA francs per month)

			1990	1991	1992	1993	1994		1995	1996
				Mar.			Apr.	Oct.
Contractual workers
	Minimum wage for unskilled agricultural workers (SMAG)		11,690	18,190	18,190	18,190	19,970	21,015	21,015	21,613
		Basic wage	8,440	8,440	8,440	8,440	10,220	11,265	11,265	11,863
		Special allowance	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000
		Cost of living allowance	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250
		Solidarity allowance	0	6,500	6,500	6,500	6,500	6,500	6,500	6,500
	Minimum wage for unskilled workers outside agriculture (SMIG)		12,730	19,230	19,230	19,230	20,350	20,965	20,965	21,638
		Basic wage	9,403	9,403	9,403	9,403	10,523	11,138	11,138	11,811
		Special allowance	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000
		Cost of living allowance	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250
		Adjustment of March 1980	77	77	77	77	77	77	77	77
		Solidarity allowance	0	6,500	6,500	6,500	6,500	6,500	6,500	6,500
Government employees
	Grade 100		25,025	31,525	31,525	31,525	32,600	33,800	33,800	34,040
		Base salary	22,525	22,525	22,525	22,525	23,600	24,800	24,800	26,040
		Housing allowance	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500
		Special allowance	1,000	1,000	1,000	1,000	1,000	1,000	1,000	0
		Solidarity allowance	0	6,500	6,500	6,500	6,500	6,500	6,500	6,500
	Grade 316		69,368	71,368	71,368	71,368	78,076	81,868	81,868	85,786
		Base salary	67,868	67,868	67,868	67,868	74,576	78,368	78,368	82,286
		Housing allowance	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500
		Solidarity allowance	0	2,000	2,000	2,000	2,000	2,000	2,000	2,000
	Grade 650		141,103	143,103	143,103	143,103	156,900	164,700	164,700	172,760
		Base salary	139,603	139,603	139,603	139,603	153,400	161,200	161,200	169,260
		Housing allowance	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500
		Solidarity allowance	0	2,000	2,000	2,000	2,000	2,000	2,000	2,000

Source: Data provided by the Malian authorities.

Table 12.

Mali: Evolution of Minimum Wages and Salaries in the Public Sector, 1990-96

(In CFA francs per month)

			1990	1991	1992	1993	1994		1995	1996
				Mar.			Apr.	Oct.
Contractual workers
	Minimum wage for unskilled agricultural workers (SMAG)		11,690	18,190	18,190	18,190	19,970	21,015	21,015	21,613
		Basic wage	8,440	8,440	8,440	8,440	10,220	11,265	11,265	11,863
		Special allowance	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000
		Cost of living allowance	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250
		Solidarity allowance	0	6,500	6,500	6,500	6,500	6,500	6,500	6,500
	Minimum wage for unskilled workers outside agriculture (SMIG)		12,730	19,230	19,230	19,230	20,350	20,965	20,965	21,638
		Basic wage	9,403	9,403	9,403	9,403	10,523	11,138	11,138	11,811
		Special allowance	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000
		Cost of living allowance	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250
		Adjustment of March 1980	77	77	77	77	77	77	77	77
		Solidarity allowance	0	6,500	6,500	6,500	6,500	6,500	6,500	6,500
Government employees
	Grade 100		25,025	31,525	31,525	31,525	32,600	33,800	33,800	34,040
		Base salary	22,525	22,525	22,525	22,525	23,600	24,800	24,800	26,040
		Housing allowance	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500
		Special allowance	1,000	1,000	1,000	1,000	1,000	1,000	1,000	0
		Solidarity allowance	0	6,500	6,500	6,500	6,500	6,500	6,500	6,500
	Grade 316		69,368	71,368	71,368	71,368	78,076	81,868	81,868	85,786
		Base salary	67,868	67,868	67,868	67,868	74,576	78,368	78,368	82,286
		Housing allowance	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500
		Solidarity allowance	0	2,000	2,000	2,000	2,000	2,000	2,000	2,000
	Grade 650		141,103	143,103	143,103	143,103	156,900	164,700	164,700	172,760
		Base salary	139,603	139,603	139,603	139,603	153,400	161,200	161,200	169,260
		Housing allowance	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500
		Solidarity allowance	0	2,000	2,000	2,000	2,000	2,000	2,000	2,000

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)

Source: Data provided by the Malian authorities.

^1/Beginning in 1994, excluding 2,129 employees of semi-public institutions no longer on the civil service payroll.

^{^2/}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 13.

Mali: Evolution of Employment in the Central and Regional Governments and the Public Enterprise Sector, 1991-96

(Numbers of Employees)

		1991	1992	1993	1994	1995	1996
Central and regional governments		45,498	38,052	36,055	32,719	32,527	36,138
	Civil servants	36,212	33,063	31,690	29,141	29,067	31,961
	Contractual employees and other	9,286	4,989	4,365	3,578	3,460	4,177
Public enterprises ^2/		8,445	8,160	7,902	7,699	7,041	6,228

Source: Data provided by the Malian authorities.

^1/Beginning in 1994, excluding 2,129 employees of semi-public institutions no longer on the civil service payroll.

^{^2/}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 13.

Mali: Evolution of Employment in the Central and Regional Governments and the Public Enterprise Sector, 1991-96

(Numbers of Employees)

		1991	1992	1993	1994	1995	1996
Central and regional governments		45,498	38,052	36,055	32,719	32,527	36,138
	Civil servants	36,212	33,063	31,690	29,141	29,067	31,961
	Contractual employees and other	9,286	4,989	4,365	3,578	3,460	4,177
Public enterprises ^2/		8,445	8,160	7,902	7,699	7,041	6,228

Source: Data provided by the Malian authorities.

^1/Beginning in 1994, excluding 2,129 employees of semi-public institutions no longer on the civil service payroll.

^{^2/}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)

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

^{^1/}The list of the acronyms of the enterprises is given in Appendix II.

^{^2/}Data not available

^{^3/}Activity interrupted.

Table 14.

Mali: Operating Results of Major Public Enterprises, 1991-96 ^1/

(In millions of CFA francs; end of period)

Enterprise	Activity	1991	1992	1993	1994	1995	1996
							Prel.
EDM	Electricity and water	-1,266.9	-126.6	-1,453.7	710.2	2,938.7	-4,861.7
SONATAM	Tobacco and matches	-273.6	209.4	52.0	79.5	75.4	59.0
OERHN	Dam on the Niger River	-425.7	899.5	1,531.0	-95.1	…^2/	…^3/
PPM	Pharmaceutical sales	594.6	201.8	55.5	-85.3	-95.4	65.9
SEMA	Public works	-93.9	-75.8	21.7	85.2	28.5	124.1
EMAMA	Maintenance	-82.8	-83.6	-39.4	-51.3	-37.0	1.0
ITEMA	Textiles	-764.7	-854.0	-958.4	-4,093.1	58.0	-426.7
COMATEX	Textiles	0.0 ^3/	0.0 ^3/	0.0 ^3/	-13.5	735.2	…^2/
COMANAV	Inland water transport	-449.5	-222.3	-488.0	-404.5	-196.3	59.0
RCFM	Railways	-1,359.3	-73.6	-239.0	44.5	325.9	453.6
ONP	Postal services	449.1	-370.8	-253.8	-158.1	-357.8	-121.1
UMPP	Pharmaceutical products	193.5	217.4	141.8	495.4	236.5	104.5
ORT	Hotels	-652.9	-478.9	-286.4	2.1	15.5	1.7
SOTELMA	Telecommunications Services	1,658.7	219.7	1,098.5	2,844.7	6,200.5	10,228.0

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

^{^1/}The list of the acronyms of the enterprises is given in Appendix II.

^{^2/}Data not available

^{^3/}Activity interrupted.

Table 14.

Mali: Operating Results of Major Public Enterprises, 1991-96 ^1/

(In millions of CFA francs; end of period)

Enterprise	Activity	1991	1992	1993	1994	1995	1996
							Prel.
EDM	Electricity and water	-1,266.9	-126.6	-1,453.7	710.2	2,938.7	-4,861.7
SONATAM	Tobacco and matches	-273.6	209.4	52.0	79.5	75.4	59.0
OERHN	Dam on the Niger River	-425.7	899.5	1,531.0	-95.1	…^2/	…^3/
PPM	Pharmaceutical sales	594.6	201.8	55.5	-85.3	-95.4	65.9
SEMA	Public works	-93.9	-75.8	21.7	85.2	28.5	124.1
EMAMA	Maintenance	-82.8	-83.6	-39.4	-51.3	-37.0	1.0
ITEMA	Textiles	-764.7	-854.0	-958.4	-4,093.1	58.0	-426.7
COMATEX	Textiles	0.0 ^3/	0.0 ^3/	0.0 ^3/	-13.5	735.2	…^2/
COMANAV	Inland water transport	-449.5	-222.3	-488.0	-404.5	-196.3	59.0
RCFM	Railways	-1,359.3	-73.6	-239.0	44.5	325.9	453.6
ONP	Postal services	449.1	-370.8	-253.8	-158.1	-357.8	-121.1
UMPP	Pharmaceutical products	193.5	217.4	141.8	495.4	236.5	104.5
ORT	Hotels	-652.9	-478.9	-286.4	2.1	15.5	1.7
SOTELMA	Telecommunications Services	1,658.7	219.7	1,098.5	2,844.7	6,200.5	10,228.0

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

^{^1/}The list of the acronyms of the enterprises is given in Appendix II.

^{^2/}Data not available

^{^3/}Activity interrupted.

Table 15.

Mali: Consolidated Government Operations, 1991-96 ^1/

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

^{^1/}Data may not add up because of rounding.

^{^2/}Scheduled; after debt cancellation obtained through 1993.

^{^3/}PESAP, Public Enterprise Sector Adjustment Program, financed by the World Bank and cofinanciers.

^{^4/}Based on the ODA debt cancellation obtained in 1994.

^{^5/}Expenditure by the Ministry of National Defense.

Table 15.

Mali: Consolidated Government Operations, 1991-96 ^1/

						1991	1992	1993	1994	1995	1996
						(In billions of CFA francs)
Revenue and grants						165.8	154.3	146.7	236.7	269.7	313.3
	Revenue					109.6	100.7	104.7	138.9	177.3	216.8
		Budgetary revenue				96.3	89.1	94.0	126.0	160.7	195.9
			Tax revenue			82.4	78.1	83.7	103.2	131.5	172.8
			Nontax revenue			13.9	11.0	10.3	22.8	29.2	23.1
		Special funds and annexed budgets				13.3	11.6	10.7	12.9	16.6	20.9
		Grants				56.2	53.6	42.0	97.8	92.4	96.5
Expenditure						192.3	183.4	177.3	280.1	306.4	324.7
	Budgetary expenditure					169.8	161.8	161.2	268.4	291.9	304.0
		Current expenditure				82.0	86.0	88.1	103.8	99.5	137.1
			Personnel			42.4	41.5	40.9	44.5	48.0	50.6
			Scholarships			4.5	5.0	4.8	4.2	3.9	4.3
			Interests ^2/			12.2	13.4	12.2	23.9	17.6	14.5
			Other expenditure			22.9	26.1	30.2	31.2	30.0	30.8
		Development, PESAP, VDP, and NP ^3/				87.8	75.8	73.1	136.3	157.2	166.9
			Development expenditure			69.5	65.5	67.5	128.7	152.1	161.7
				Externally financed		64.5	60.0	58.5	115.0	133.5	137.4
					Loans	31.2	29.0	28.5	60.0	70.5	67.5
					Grants	33.3	31.0	30.0	55.0	63.0	69.8
				Domestically financed		5.0	5.5	9.0	13.7	18.6	24.3
			PESAP and public enterprise reform			13.2	6.0	2.8	5.1	2.3	2.5
			Voluntary departure program (VDP)			5.1	4.3	1.4	0.8	0.3	0.0
			National Pact (NP)			0.0	0.0	1.4	1.7	2.4	2.7
	Special funds and annexed budgets					11.8	11.0	10.5	11.7	14.5	20.7
		Extrabudgetary expenditure				2.3	8.9	5.6	0.0	0.0	0.0
	Reconstruction expenditure					8.4	1.7	0.0	0.0	0.0	0.0
Deficit (commitment basis)						-26.5	-29.1	-30.6	-43.4	-36.6	-11.3
Changes in payments arrears						0.7	2.4	8.6	-29.7	-10.1	-18.0
	Domestic payments arrears					-0.4	-1.3	3.6	-9.9	-10.1	-18.0
	External payments arrears					1.1	3.7	5.0	-19.8	0.0	0.0
Adjustment (cash basis)						-4.3	2.5	-0.5	0.0	-3.9	-1.0
Deficit (cash basis)						-30.1	-24.2	-22.5	-73.1	-50.7	-30.3
Financing (net)						30.1	24.2	22.5	73.1	50.7	30.3
	External financing					42.3	32.8	25.5	76.7	90.9	82.1
		Loans (gross)				49.3	38.7	30.3	91.7	110.1	102.1
		Amortization ^2/				-30.9	-35.3	-35.4	-66.9	-64.0	-60.9
		Debt rescheduling				0.7	3.0	5.8	7.1	2.3	2.0
		Debt relief from debt cancellation ^4/				0.0	0.0	0.0	2.3	2.0	0.0
		Debt moratoria and debt under negotiation				23.2	26.4	24.8	42.5	40.5	38.9
	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	-1.7	0.9	-0.6	-5.8
Financing gap						0.0	0.0	0.0	0.0	0.0	0.0
						(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/					13.5	15.9	15.7	20.7	24.7	25.3

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

^{^1/}Data may not add up because of rounding.

^{^2/}Scheduled; after debt cancellation obtained through 1993.

^{^3/}PESAP, Public Enterprise Sector Adjustment Program, financed by the World Bank and cofinanciers.

^{^4/}Based on the ODA debt cancellation obtained in 1994.

^{^5/}Expenditure by the Ministry of National Defense.

Table 15.

Mali: Consolidated Government Operations, 1991-96 ^1/

						1991	1992	1993	1994	1995	1996
						(In billions of CFA francs)
Revenue and grants						165.8	154.3	146.7	236.7	269.7	313.3
	Revenue					109.6	100.7	104.7	138.9	177.3	216.8
		Budgetary revenue				96.3	89.1	94.0	126.0	160.7	195.9
			Tax revenue			82.4	78.1	83.7	103.2	131.5	172.8
			Nontax revenue			13.9	11.0	10.3	22.8	29.2	23.1
		Special funds and annexed budgets				13.3	11.6	10.7	12.9	16.6	20.9
		Grants				56.2	53.6	42.0	97.8	92.4	96.5
Expenditure						192.3	183.4	177.3	280.1	306.4	324.7
	Budgetary expenditure					169.8	161.8	161.2	268.4	291.9	304.0
		Current expenditure				82.0	86.0	88.1	103.8	99.5	137.1
			Personnel			42.4	41.5	40.9	44.5	48.0	50.6
			Scholarships			4.5	5.0	4.8	4.2	3.9	4.3
			Interests ^2/			12.2	13.4	12.2	23.9	17.6	14.5
			Other expenditure			22.9	26.1	30.2	31.2	30.0	30.8
		Development, PESAP, VDP, and NP ^3/				87.8	75.8	73.1	136.3	157.2	166.9
			Development expenditure			69.5	65.5	67.5	128.7	152.1	161.7
				Externally financed		64.5	60.0	58.5	115.0	133.5	137.4
					Loans	31.2	29.0	28.5	60.0	70.5	67.5
					Grants	33.3	31.0	30.0	55.0	63.0	69.8
				Domestically financed		5.0	5.5	9.0	13.7	18.6	24.3
			PESAP and public enterprise reform			13.2	6.0	2.8	5.1	2.3	2.5
			Voluntary departure program (VDP)			5.1	4.3	1.4	0.8	0.3	0.0
			National Pact (NP)			0.0	0.0	1.4	1.7	2.4	2.7
	Special funds and annexed budgets					11.8	11.0	10.5	11.7	14.5	20.7
		Extrabudgetary expenditure				2.3	8.9	5.6	0.0	0.0	0.0
	Reconstruction expenditure					8.4	1.7	0.0	0.0	0.0	0.0
Deficit (commitment basis)						-26.5	-29.1	-30.6	-43.4	-36.6	-11.3
Changes in payments arrears						0.7	2.4	8.6	-29.7	-10.1	-18.0
	Domestic payments arrears					-0.4	-1.3	3.6	-9.9	-10.1	-18.0
	External payments arrears					1.1	3.7	5.0	-19.8	0.0	0.0
Adjustment (cash basis)						-4.3	2.5	-0.5	0.0	-3.9	-1.0
Deficit (cash basis)						-30.1	-24.2	-22.5	-73.1	-50.7	-30.3
Financing (net)						30.1	24.2	22.5	73.1	50.7	30.3
	External financing					42.3	32.8	25.5	76.7	90.9	82.1
		Loans (gross)				49.3	38.7	30.3	91.7	110.1	102.1
		Amortization ^2/				-30.9	-35.3	-35.4	-66.9	-64.0	-60.9
		Debt rescheduling				0.7	3.0	5.8	7.1	2.3	2.0
		Debt relief from debt cancellation ^4/				0.0	0.0	0.0	2.3	2.0	0.0
		Debt moratoria and debt under negotiation				23.2	26.4	24.8	42.5	40.5	38.9
	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	-1.7	0.9	-0.6	-5.8
Financing gap						0.0	0.0	0.0	0.0	0.0	0.0
						(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/					13.5	15.9	15.7	20.7	24.7	25.3

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

^{^1/}Data may not add up because of rounding.

^{^2/}Scheduled; after debt cancellation obtained through 1993.

^{^3/}PESAP, Public Enterprise Sector Adjustment Program, financed by the World Bank and cofinanciers.

^{^4/}Based on the ODA debt cancellation obtained in 1994.

^{^5/}Expenditure by the Ministry of National Defense.

Table 16.

Mali: Government Revenue, 1991-96 ^1/

(In billions of CFA francs)

Source: Data provided by the Malian authorities.

^{^1/}Data may not add up because of rounding.

^{^2/}Introduced in 1990 and replaced turnover tax.

^{^3/}Beginning in 1991, tax revenues included in this category, which were previously earmarked for special funds, have been consolidated in the budget.

^{^4/}Customs service fee on gold exports.

Table 16.

Mali: Government Revenue, 1991-96 ^1/

(In billions of CFA francs)

				1991	1992	1993	1994	1995	1996
Taxes on net income and profits				12.0	12.3	11.6	16.2	26.6	34.8
	Enterprises			5.2	5.3	4.8	5.7	10.8	19.8
		Of which: public enterprise		0.9	1.0	0.7	1.3	0.8	0.1
			private enterprise	4.3	4.3	4.1	4.4	10.0	19.7
	Individuals			5.4	5.6	5.4	8.6	14.2	12.8
	Tax on transporters			0.8	0.8	0.7	1.1	0.6	1.0
	Rental income tax			0.5	0.6	0.7	0.8	1.0	1.2
Payroll tax				2.0	2.1	2.1	2.6	2.5	3.7
Property taxes				1.4	1.6	3.1	2.6	3.4	6.2
Taxes on goods and services				12.8	12.1	12.4	15.0	17.0	25.3
	Value-added tax ^2/			8.9	8.9	9.2	11.8	13.8	22.6
		Of which: public enterprises		1.9	1.7	2.6	2.7	4.5	2.9
			private enterprises	7.1	7.2	6.6	9.1	9.3	19.7
	Excise duties ^3/			1.3	1.3	1.0	1.7	1.4	0.7
	Other			2.5	1.8	2.2	1.5	1.8	2.0
Taxes on international trade				45.1	43.2	47.4	55.1	73.0	94.7
	Customs duties ^3/			2.5	2.5	2.6	2.7	6.3	7.6
	Other import charges ^3/			16.6	14.8	16.6	17.2	25.9	32.8
	Value-added tax on imports ^2/			11.1	10.8	11.5	13.3	20.8	31.6
	Petroleum import duties ^3/			12.0	13.4	14.5	19.2	17.3	19.9
	Payment of deferred taxes			0.4	0.2	1.0	1.3	0.7	1.2
	Export duty ^4/			0.1	0.0	0.0	0.0	0.1	0.1
	Other			2.3	1.4	1.2	1.4	1.9	1.5
Other tax revenue				9.0	6.9	7.1	11.8	9.0	10.3
	Poll tax			2.3	1.7	0.8	0.0	0.0	0.0
	Stamp duties			2.2	2.3	2.1	3.6	4.8	5.3
	Payment of tax arrears			3.8	2.2	3.4	6.5	2.8	2.1
	Other taxes			0.7	0.7	0.8	1.7	1.4	2.9
Miscellaneous or unclassified tax revenue				0.1	0.0	0.0	0.0	0.0	0.0
		Tax revenue		82.4	78.1	83.7	103.2	131.5	175.1
Nontax revenue				12.6	10.1	10.3	20.0	21.9	21.5
Capital revenue				1.3	0.9	…	2.7	7.3	0.0
		Budgetary revenue		96.3	89.1	94.0	126.0	160.7	196.6
Special funds and annexed budgets				13.3	11.6	10.7	12.9	16.6	20.9
		Total revenue		109.6	100.7	104.7	138.9	177.3	217.5

Source: Data provided by the Malian authorities.

^{^1/}Data may not add up because of rounding.

^{^2/}Introduced in 1990 and replaced turnover tax.

^{^3/}Beginning in 1991, tax revenues included in this category, which were previously earmarked for special funds, have been consolidated in the budget.

^{^4/}Customs service fee on gold exports.

Table 16.

Mali: Government Revenue, 1991-96 ^1/

(In billions of CFA francs)

				1991	1992	1993	1994	1995	1996
Taxes on net income and profits				12.0	12.3	11.6	16.2	26.6	34.8
	Enterprises			5.2	5.3	4.8	5.7	10.8	19.8
		Of which: public enterprise		0.9	1.0	0.7	1.3	0.8	0.1
			private enterprise	4.3	4.3	4.1	4.4	10.0	19.7
	Individuals			5.4	5.6	5.4	8.6	14.2	12.8
	Tax on transporters			0.8	0.8	0.7	1.1	0.6	1.0
	Rental income tax			0.5	0.6	0.7	0.8	1.0	1.2
Payroll tax				2.0	2.1	2.1	2.6	2.5	3.7
Property taxes				1.4	1.6	3.1	2.6	3.4	6.2
Taxes on goods and services				12.8	12.1	12.4	15.0	17.0	25.3
	Value-added tax ^2/			8.9	8.9	9.2	11.8	13.8	22.6
		Of which: public enterprises		1.9	1.7	2.6	2.7	4.5	2.9
			private enterprises	7.1	7.2	6.6	9.1	9.3	19.7
	Excise duties ^3/			1.3	1.3	1.0	1.7	1.4	0.7
	Other			2.5	1.8	2.2	1.5	1.8	2.0
Taxes on international trade				45.1	43.2	47.4	55.1	73.0	94.7
	Customs duties ^3/			2.5	2.5	2.6	2.7	6.3	7.6
	Other import charges ^3/			16.6	14.8	16.6	17.2	25.9	32.8
	Value-added tax on imports ^2/			11.1	10.8	11.5	13.3	20.8	31.6
	Petroleum import duties ^3/			12.0	13.4	14.5	19.2	17.3	19.9
	Payment of deferred taxes			0.4	0.2	1.0	1.3	0.7	1.2
	Export duty ^4/			0.1	0.0	0.0	0.0	0.1	0.1
	Other			2.3	1.4	1.2	1.4	1.9	1.5
Other tax revenue				9.0	6.9	7.1	11.8	9.0	10.3
	Poll tax			2.3	1.7	0.8	0.0	0.0	0.0
	Stamp duties			2.2	2.3	2.1	3.6	4.8	5.3
	Payment of tax arrears			3.8	2.2	3.4	6.5	2.8	2.1
	Other taxes			0.7	0.7	0.8	1.7	1.4	2.9
Miscellaneous or unclassified tax revenue				0.1	0.0	0.0	0.0	0.0	0.0
		Tax revenue		82.4	78.1	83.7	103.2	131.5	175.1
Nontax revenue				12.6	10.1	10.3	20.0	21.9	21.5
Capital revenue				1.3	0.9	…	2.7	7.3	0.0
		Budgetary revenue		96.3	89.1	94.0	126.0	160.7	196.6
Special funds and annexed budgets				13.3	11.6	10.7	12.9	16.6	20.9
		Total revenue		109.6	100.7	104.7	138.9	177.3	217.5

Source: Data provided by the Malian authorities.

^{^1/}Data may not add up because of rounding.

^{^2/}Introduced in 1990 and replaced turnover tax.

^{^3/}Beginning in 1991, tax revenues included in this category, which were previously earmarked for special funds, have been consolidated in the budget.

^{^4/}Customs service fee on gold exports.

Table 17.

Mali: Government Revenue Performance, 1991-96 ^1/

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

^{^1/}Data may not add up because of rounding.

Table 17.

Mali: Government Revenue Performance, 1991-96 ^1/

		1991	1992	1993	1994	1995	1996
		(In billions of CFA francs)
Taxes on net income and profits		12.0	12.3	11.6	16.2	26.6	34.8
Taxes on goods and services		12.8	12.1	12.4	15.0	17.0	25.3
Payroll tax		2.0	2.1	2.1	2.6	2.5	3.7
Property taxes		1.4	1.6	3.1	2.6	3.4	6.2
Taxes on international trade		45.1	43.2	47.4	55.1	73.0	94.7
Other tax revenue		9.0	6.9	7.1	11.8	9.0	10.3
Miscellaneous or unclassified tax revenue		0.1	0.0	0.0	0.0	0.0	0.0
	Tax revenue	82.4	78.1	83.7	103.2	131.5	175.1
Nontax revenue		13.9	11.0	10.3	22.8	29.2	21.5
	Budgetary revenue	96.3	89.1	94.0	126.0	160.7	196.6
Special funds and annexed budgets		13.3	11.6	10.7	12.9	16.6	20.9
	Total revenue	109.6	100.7	104.7	138.9	177.3	217.5
		(Annual percentage change)
Taxes on net income and profits		-1.6	2.5	-5.7	39.7	64.2	30.8
Taxes on goods and services		13.3	-5.5	2.5	21.0	13.3	48.8
Taxes on international trade		46.9	-4.2	9.7	16.2	32.5	33.8
Other tax revenue		-9.1	-23.3	2.9	66.2	12.4	14.4
	Tax revenue	25.0	-5.2	7.2	23.3	27.4	33.1
Nontax revenue		52.7	-20.9	-6.4	121.4	28.1	26.4
	Budgetary revenue	28.4	-7.5	5.5	34.0	27.5	22.3
Special funds and annexed budgets		-67.6	-12.8	-7.8	20.6	28.7	25.9
	Total revenue	-5.6	-8.1	4.0	32.7	27.6	22.7
		(In percent of budgetary revenue)
Taxes on net income and profits		12.5	13.8	12.3	12.9	16.6	17.7
Taxes on goods and services		13.3	13.6	13.2	11.9	10.6	12.8
Taxes on international trade		46.8	48.5	50.4	43.7	45.4	48.2
Other tax revenue		9.3	7.7	7.6	9.4	9.2	5.2
	Tax revenue	85.6	87.7	89.0	81.9	81.8	89.1
Nontax revenue		14.4	12.3	11.0	18.1	18.2	10.9
		(In percent of total government revenue)
Budgetary revenue		87.9	88.5	89.8	90.7	90.6	90.4
Special funds and annexed budgets		12.1	11.5	10.2	9.3	9.4	9.6
		(In percent of GDP)
Taxes on net income and profits		1.8	1.6	1.5	1.6	2.2	2.6
Taxes on goods and services		1.9	1.6	1.6	1.4	1.4	1.9
Taxes on international trade		6.6	5.7	6.3	5.3	5.9	7.0
Other tax revenue		1.3	0.9	0.9	1.1	1.2	0.8
	Tax revenue	12.1	10.4	11.1	10.0	10.7	12.9
Nontax revenue		2.0	1.5	1.4	2.2	2.4	1.6
	Budgetary revenue	14.1	11.8	12.4	12.1	13.1	14.4
Special funds and annexed budgets		1.9	1.5	1.4	1.2	1.3	1.5
	Total revenue	16.1	13.4	13.9	13.5	14.4	16.0

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

^{^1/}Data may not add up because of rounding.

Table 17.

Mali: Government Revenue Performance, 1991-96 ^1/

		1991	1992	1993	1994	1995	1996
		(In billions of CFA francs)
Taxes on net income and profits		12.0	12.3	11.6	16.2	26.6	34.8
Taxes on goods and services		12.8	12.1	12.4	15.0	17.0	25.3
Payroll tax		2.0	2.1	2.1	2.6	2.5	3.7
Property taxes		1.4	1.6	3.1	2.6	3.4	6.2
Taxes on international trade		45.1	43.2	47.4	55.1	73.0	94.7
Other tax revenue		9.0	6.9	7.1	11.8	9.0	10.3
Miscellaneous or unclassified tax revenue		0.1	0.0	0.0	0.0	0.0	0.0
	Tax revenue	82.4	78.1	83.7	103.2	131.5	175.1
Nontax revenue		13.9	11.0	10.3	22.8	29.2	21.5
	Budgetary revenue	96.3	89.1	94.0	126.0	160.7	196.6
Special funds and annexed budgets		13.3	11.6	10.7	12.9	16.6	20.9
	Total revenue	109.6	100.7	104.7	138.9	177.3	217.5
		(Annual percentage change)
Taxes on net income and profits		-1.6	2.5	-5.7	39.7	64.2	30.8
Taxes on goods and services		13.3	-5.5	2.5	21.0	13.3	48.8
Taxes on international trade		46.9	-4.2	9.7	16.2	32.5	33.8
Other tax revenue		-9.1	-23.3	2.9	66.2	12.4	14.4
	Tax revenue	25.0	-5.2	7.2	23.3	27.4	33.1
Nontax revenue		52.7	-20.9	-6.4	121.4	28.1	26.4
	Budgetary revenue	28.4	-7.5	5.5	34.0	27.5	22.3
Special funds and annexed budgets		-67.6	-12.8	-7.8	20.6	28.7	25.9
	Total revenue	-5.6	-8.1	4.0	32.7	27.6	22.7
		(In percent of budgetary revenue)
Taxes on net income and profits		12.5	13.8	12.3	12.9	16.6	17.7
Taxes on goods and services		13.3	13.6	13.2	11.9	10.6	12.8
Taxes on international trade		46.8	48.5	50.4	43.7	45.4	48.2
Other tax revenue		9.3	7.7	7.6	9.4	9.2	5.2
	Tax revenue	85.6	87.7	89.0	81.9	81.8	89.1
Nontax revenue		14.4	12.3	11.0	18.1	18.2	10.9
		(In percent of total government revenue)
Budgetary revenue		87.9	88.5	89.8	90.7	90.6	90.4
Special funds and annexed budgets		12.1	11.5	10.2	9.3	9.4	9.6
		(In percent of GDP)
Taxes on net income and profits		1.8	1.6	1.5	1.6	2.2	2.6
Taxes on goods and services		1.9	1.6	1.6	1.4	1.4	1.9
Taxes on international trade		6.6	5.7	6.3	5.3	5.9	7.0
Other tax revenue		1.3	0.9	0.9	1.1	1.2	0.8
	Tax revenue	12.1	10.4	11.1	10.0	10.7	12.9
Nontax revenue		2.0	1.5	1.4	2.2	2.4	1.6
	Budgetary revenue	14.1	11.8	12.4	12.1	13.1	14.4
Special funds and annexed budgets		1.9	1.5	1.4	1.2	1.3	1.5
	Total revenue	16.1	13.4	13.9	13.5	14.4	16.0

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

^{^1/}Data may not add up because of rounding.

Table 18.

Mali: Government Expenditure, 1991-96 ^1/

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

^{^1/}Data may not add up because of rounding.

^{^2/}Scheduled; after debt cancellation obtained through 1993.

^{^3/}PESAP, Public Enterprise Sector Adjustment Program, financed by the World Bank and cofinanciers.

Table 18.

Mali: Government Expenditure, 1991-96 ^1/

					1991	1992	1993	1994	1995	1996
					(In billions of CFA francs)
Expenditure					192.3	183.4	177.3	280.1	306.4	324.7
	Budgetary expenditure				169.8	161.8	161.2	268.4	291.9	304.0
		Current expenditure			82.0	86.0	88.1	132.1	134.7	137.1
			Personnel		42.4	41.5	40.9	44.5	48.0	50.6
			Supplies		6.4	8.1	8.8	14.2	18.6	20.1
			Scholarships		4.5	5.0	4.8	4.2	3.9	4.3
			Interest ^2/		12.2	13.4	12.2	23.9	17.6	14.5
			Other expenditure		16.5	18.0	21.4	45.3	46.6	47.6
		Development, PESAP, VDP, and NP ^3/			87.8	75.8	73.1	136.3	157.2	166.9
			Development expenditure		69.5	65.5	67.5	128.7	152.1	161.7
			Externally financed		64.5	60.0	58.5	115.0	133.5	137.4
				Equipment and investment	5.0	5.5	9.0	13.7	18.6	24.3
			PESAP		13.2	6.0	2.8	5.1	2.3	2.5
			Voluntary departure program (VDP)		5.1	4.3	1.4	0.8	0.3	0.0
			National Pact (NP)		0.0	0.0	1.4	1.7	2.4	2.7
Special funds and annexed budgets					11.8	11.0	10.5	11.7	14.5	20.7
Extrabudgetary expenditure					2.3	8.9	5.6	0.0	0.0	0.0
Reconstruction expenditure					8.4	1.7	0.0	0.0	0.0	0.0
					(Annual percentage change)
Expenditure					10.7	-4.6	-3.3	58.0	9.4	5.9
	Budgetary expenditure				24.9	-4.7	-0.4	66.5	8.8	4.1
		Current expenditure			23.3	4.9	2.4	49.9	2.0	1.8
			Personnel		11.0	-2.1	-1.4	8.8	7.9	5.4
			Supplies		-13.5	26.6	8.6	61.4	31.0	8.0
			Scholarships		40.6	11.1	-4.0	-12.5	-7.1	10.3
			Other expenditure		-6.8	9.1	18.9	111.7	2.9	2.1
		Development, PESAP, VDP, and NP ^3/			26.3	-13.7	-3.6	86.5	15.3	6.2
			Development expenditure		12.3	-5.8	3.1	90.7	18.2	6.3
				Externally financed	12.2	-7.0	-2.5	96.6	16.1	2.9
				Equipment and investment	13.6	10.0	63.6	52.2	35.8	30.6
	Special funds and annexed budgets				-65.3	-6.8	-4.5	11.4	23.9	42.7
	Extrabudgetary expenditure				-37.8	287.0	-37.1	-100.0	0.0	0.0
					(In percent of total budgetary expenditures)
Current expenditure					48.3	53.2	54.7	49.2	46.1	45.1
	Personnel				25.0	25.6	25.4	16.6	16.4	16.6
	Supplies				3.8	5.0	5.5	5.3	6.4	6.6
	Scholarships				2.7	3.1	3.0	1.6	1.3	1.4
	Other expenditure				9.7	11.1	13.3	16.9	16.0	15.6
Development, PESAP, VDP, and NP ^3/					51.7	46.8	45.3	50.8	53.9	54.9
	Development expenditure				40.9	40.5	41.9	48.0	52.1	53.2
		Externally financed			38.0	37.1	36.3	42.8	45.7	45.2
		Equipment and investment			2.9	3.4	5.6	5.1	6.4	7.9
	PESAP, VDP, and NP				10.8	6.4	3.5	2.8	1.8	1.7
					(In percent of total expenditure)
Budgetary expenditure					88.3	88.2	90.9	95.8	95.3	93.6
Special funds and annexed budgets					6.1	6.0	5.9	4.2	4.7	6.4
Extrabudgetary expenditure					1.2	4.9	3.2	0.0	0.0	0.0
Reconstruction expenditure					4.4	0.9	0.0	0.0	0.0	0.0
					(In percent of GDP)
Expenditure					28.2	24.3	23.5	27.2	24.9	23.9
	Budgetary expenditure				24.9	21.5	21.3	25.8	23.7	22.3
		Current expenditure			12.0	11.4	11.7	12.7	10.9	10.1
			Personnel		6.2	5.5	5.4	4.3	3.9	3.7
			Supplies		0.9	1.1	1.2	1.4	1.5	1.5
			Scholarships		0.7	0.7	0.6	0.4	0.3	0.3
			Other expenditure		2.4	2.4	2.8	4.4	3.8	3.5
		Development, PESAP, VDP, and NP ^3/			12.9	10.1	9.7	13.1	12.8	12.3
			Development expenditure		10.2	8.7	8.9	12.4	12.4	11.9
				Externally financed	9.5	8.0	7.7	11.1	10.8	10.1
				Equipment and investment	0.7	0.7	1.2	1.3	1.5	1.8
			PESAP, VDP, and NP		2.7	1.4	0.7	0.7	0.4	0.2
Special funds and annexed budgets					1.7	1.5	1.4	1.1	1.2	1.5
Extrabudgetary expenditure					0.3	1.2	0.7	0.0	0.0	0.0
Reconstruction expenditure					1.2	0.2	0.0	0.0	0.0	0.0

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

^{^1/}Data may not add up because of rounding.

^{^2/}Scheduled; after debt cancellation obtained through 1993.

^{^3/}PESAP, Public Enterprise Sector Adjustment Program, financed by the World Bank and cofinanciers.

Table 18.

Mali: Government Expenditure, 1991-96 ^1/

					1991	1992	1993	1994	1995	1996
					(In billions of CFA francs)
Expenditure					192.3	183.4	177.3	280.1	306.4	324.7
	Budgetary expenditure				169.8	161.8	161.2	268.4	291.9	304.0
		Current expenditure			82.0	86.0	88.1	132.1	134.7	137.1
			Personnel		42.4	41.5	40.9	44.5	48.0	50.6
			Supplies		6.4	8.1	8.8	14.2	18.6	20.1
			Scholarships		4.5	5.0	4.8	4.2	3.9	4.3
			Interest ^2/		12.2	13.4	12.2	23.9	17.6	14.5
			Other expenditure		16.5	18.0	21.4	45.3	46.6	47.6
		Development, PESAP, VDP, and NP ^3/			87.8	75.8	73.1	136.3	157.2	166.9
			Development expenditure		69.5	65.5	67.5	128.7	152.1	161.7
			Externally financed		64.5	60.0	58.5	115.0	133.5	137.4
				Equipment and investment	5.0	5.5	9.0	13.7	18.6	24.3
			PESAP		13.2	6.0	2.8	5.1	2.3	2.5
			Voluntary departure program (VDP)		5.1	4.3	1.4	0.8	0.3	0.0
			National Pact (NP)		0.0	0.0	1.4	1.7	2.4	2.7
Special funds and annexed budgets					11.8	11.0	10.5	11.7	14.5	20.7
Extrabudgetary expenditure					2.3	8.9	5.6	0.0	0.0	0.0
Reconstruction expenditure					8.4	1.7	0.0	0.0	0.0	0.0
					(Annual percentage change)
Expenditure					10.7	-4.6	-3.3	58.0	9.4	5.9
	Budgetary expenditure				24.9	-4.7	-0.4	66.5	8.8	4.1
		Current expenditure			23.3	4.9	2.4	49.9	2.0	1.8
			Personnel		11.0	-2.1	-1.4	8.8	7.9	5.4
			Supplies		-13.5	26.6	8.6	61.4	31.0	8.0
			Scholarships		40.6	11.1	-4.0	-12.5	-7.1	10.3
			Other expenditure		-6.8	9.1	18.9	111.7	2.9	2.1
		Development, PESAP, VDP, and NP ^3/			26.3	-13.7	-3.6	86.5	15.3	6.2
			Development expenditure		12.3	-5.8	3.1	90.7	18.2	6.3
				Externally financed	12.2	-7.0	-2.5	96.6	16.1	2.9
				Equipment and investment	13.6	10.0	63.6	52.2	35.8	30.6
	Special funds and annexed budgets				-65.3	-6.8	-4.5	11.4	23.9	42.7
	Extrabudgetary expenditure				-37.8	287.0	-37.1	-100.0	0.0	0.0
					(In percent of total budgetary expenditures)
Current expenditure					48.3	53.2	54.7	49.2	46.1	45.1
	Personnel				25.0	25.6	25.4	16.6	16.4	16.6
	Supplies				3.8	5.0	5.5	5.3	6.4	6.6
	Scholarships				2.7	3.1	3.0	1.6	1.3	1.4
	Other expenditure				9.7	11.1	13.3	16.9	16.0	15.6
Development, PESAP, VDP, and NP ^3/					51.7	46.8	45.3	50.8	53.9	54.9
	Development expenditure				40.9	40.5	41.9	48.0	52.1	53.2
		Externally financed			38.0	37.1	36.3	42.8	45.7	45.2
		Equipment and investment			2.9	3.4	5.6	5.1	6.4	7.9
	PESAP, VDP, and NP				10.8	6.4	3.5	2.8	1.8	1.7
					(In percent of total expenditure)
Budgetary expenditure					88.3	88.2	90.9	95.8	95.3	93.6
Special funds and annexed budgets					6.1	6.0	5.9	4.2	4.7	6.4
Extrabudgetary expenditure					1.2	4.9	3.2	0.0	0.0	0.0
Reconstruction expenditure					4.4	0.9	0.0	0.0	0.0	0.0
					(In percent of GDP)
Expenditure					28.2	24.3	23.5	27.2	24.9	23.9
	Budgetary expenditure				24.9	21.5	21.3	25.8	23.7	22.3
		Current expenditure			12.0	11.4	11.7	12.7	10.9	10.1
			Personnel		6.2	5.5	5.4	4.3	3.9	3.7
			Supplies		0.9	1.1	1.2	1.4	1.5	1.5
			Scholarships		0.7	0.7	0.6	0.4	0.3	0.3
			Other expenditure		2.4	2.4	2.8	4.4	3.8	3.5
		Development, PESAP, VDP, and NP ^3/			12.9	10.1	9.7	13.1	12.8	12.3
			Development expenditure		10.2	8.7	8.9	12.4	12.4	11.9
				Externally financed	9.5	8.0	7.7	11.1	10.8	10.1
				Equipment and investment	0.7	0.7	1.2	1.3	1.5	1.8
			PESAP, VDP, and NP		2.7	1.4	0.7	0.7	0.4	0.2
Special funds and annexed budgets					1.7	1.5	1.4	1.1	1.2	1.5
Extrabudgetary expenditure					0.3	1.2	0.7	0.0	0.0	0.0
Reconstruction expenditure					1.2	0.2	0.0	0.0	0.0	0.0

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

^{^1/}Data may not add up because of rounding.

^{^2/}Scheduled; after debt cancellation obtained through 1993.

^{^3/}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)

Source: Data provided by the Malian authorities.

^{^1/}OSRP, Office de Stabilisation et de Régulation des Prix.

^{^2/}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 19.

Mali: Consolidated Operations of the Special Funds and the Annexed Budgets, 1991-96

(In billions of CFA francs)

		1991	1992	1993	1994	1995	1996
Revenue		13.3	11.6	10.7	12.9	16.6	20.9
	OSRP ^1/	3.3	0.0	0.0	0.0	0.0	0.0
	Social Security Fund (INPS	8.7	10.2	9.7	11.8	15.0	19.1
	Other revenue ^2/	1.3	1.4	1.0	1.1	1.6	1.8
Expenditure and net lending		11.8	11.0	10.5	11.7	14.5	20.7
	OSRP ^1/	3.1	0.0	0.0	0.0	0.0	0.0
	Social Security Fund (INPS	7.2	9.5	9.5	10.6	12.9	18.9
	Other expenditure ^2/	1.5	1.5	1.0	1.1	1.6	1.8
Surplus/Deficit		1.5	0.6	0.2	1.2	2.1	0.2

Source: Data provided by the Malian authorities.

^{^1/}OSRP, Office de Stabilisation et de Régulation des Prix.

^{^2/}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 19.

Mali: Consolidated Operations of the Special Funds and the Annexed Budgets, 1991-96

(In billions of CFA francs)

		1991	1992	1993	1994	1995	1996
Revenue		13.3	11.6	10.7	12.9	16.6	20.9
	OSRP ^1/	3.3	0.0	0.0	0.0	0.0	0.0
	Social Security Fund (INPS	8.7	10.2	9.7	11.8	15.0	19.1
	Other revenue ^2/	1.3	1.4	1.0	1.1	1.6	1.8
Expenditure and net lending		11.8	11.0	10.5	11.7	14.5	20.7
	OSRP ^1/	3.1	0.0	0.0	0.0	0.0	0.0
	Social Security Fund (INPS	7.2	9.5	9.5	10.6	12.9	18.9
	Other expenditure ^2/	1.5	1.5	1.0	1.1	1.6	1.8
Surplus/Deficit		1.5	0.6	0.2	1.2	2.1	0.2

Source: Data provided by the Malian authorities.

^{^1/}OSRP, Office de Stabilisation et de Régulation des Prix.

^{^2/}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

Source: Data provided by the Malian authorities.

Table 20.

Mali: Government Wage Bill and Employees, 1991-97

		1991	1992	1993	1994	1995	1996
Wage bill
	(in billions of CFA francs)	42.4	41.5	40.9	44.5	48	50.6
Annual change in wage bill
	(in percent)	11	-2.1	-1.4	8.8	7.9	5.4
Wage bill
	(in percent of current budgetary expenditure)	51.7	48.3	46.4	33.7	35.6	36.9
Wage bill
	(in percent of total budgetary expenditure)	25	25.6	25.4	16.6	16.4	15.6
Wage bill		6.2	5.5	5.4	4.3	3.9	3.7
	(in percent of GDP)
Total government employees as of end-December		45,498	38,052	36,055	32,719	32,527	36,138
	Of which: civil servants	36,212	33,063	31,690	29,141	29,067	31,961
Annual change in total government employees
	(in percent)	-8.2	-16.4	-5.2	-9.3	-0.6	11.1

Source: Data provided by the Malian authorities.

Table 20.

Mali: Government Wage Bill and Employees, 1991-97

		1991	1992	1993	1994	1995	1996
Wage bill
	(in billions of CFA francs)	42.4	41.5	40.9	44.5	48	50.6
Annual change in wage bill
	(in percent)	11	-2.1	-1.4	8.8	7.9	5.4
Wage bill
	(in percent of current budgetary expenditure)	51.7	48.3	46.4	33.7	35.6	36.9
Wage bill
	(in percent of total budgetary expenditure)	25	25.6	25.4	16.6	16.4	15.6
Wage bill		6.2	5.5	5.4	4.3	3.9	3.7
	(in percent of GDP)
Total government employees as of end-December		45,498	38,052	36,055	32,719	32,527	36,138
	Of which: civil servants	36,212	33,063	31,690	29,141	29,067	31,961
Annual change in total government employees
	(in percent)	-8.2	-16.4	-5.2	-9.3	-0.6	11.1

Source: Data provided by the Malian authorities.

Table 21.

Mali: Deposit Money Banks in December 1996

Source: Data provided by the BCEAO.

^{^1/}Restructured into a societe anonyme on June 30, 1989.

^{^2/}Formerly the Banque Internationale pour I’Afrique Occidentale au Mali (BIAO-Mali)

^{^3/}Was changed to a Bank from the ‘Societe des Cheques Postaux et de la Caisse d’Epargne (SCPCE)’ in March 1996.

^{^4/}Agence cession Immobilière.

Table 21.

Mali: Deposit Money Banks in December 1996

	Shareholders		Year established	Capital (In millions of CFA francs)	Deposits			Number of branches
	(Percent of total holdings)				Public	Private	Total
					(In millions of CFA francs)
Banque de Développement du Mali (BDM-SA) ^1/	Government	20.0	1968	3,000	50,178	31,331	81,509	13
	BCEAO	20.0
	BOAD	20.0
	Private national shareholders	23.3
	Moroccan bank	16.7
Banque Nationale de Développement Agricole (BNDA)	Government	39.5	1981	8,361	9,341	17,592	26,933	21
	BCEAO	16.8
	Caisse Française de Développement (France)	19.6
	Deutsche Entwicklungs Gesellschaft (Fed. Rep. of Germany)	18.5
	BDM-SA	5.6
Banque Internationale du Mali (BIM-SA) ^2/	Etat	61.5	1980	4,254	3640	52,577	56,217	7
	Private national shareholders	38.5
Banque Malienne de Crédit et de Dépôts (BMCD)	Government	100.0	1961	1,000	3,283	46,735	50,018	6
Bank of Africa-Mali (BOA)	Private national shareholders	76.9	1982	1,400	1,875	30,950	32,825	5
	Private foreign shareholders	23.1
Banque Commerciale du Sahel (BCS; ex-BALIMA)	Government	49.5	1982	1,100	2648	11,146	13,794	1
	Foreign Arab banks	50.0
	Private national shareholders	0.5
Banque de l’Habitat du Mali (BHM)^3/	Government	14.8	1991	1350	569	6,543	7,112	1
	INPS	37.1
	ACI ^4/	25.9
	BIM-SA	7.4
	private national shareholders	14.8

Source: Data provided by the BCEAO.

^{^1/}Restructured into a societe anonyme on June 30, 1989.

^{^2/}Formerly the Banque Internationale pour I’Afrique Occidentale au Mali (BIAO-Mali)

^{^3/}Was changed to a Bank from the ‘Societe des Cheques Postaux et de la Caisse d’Epargne (SCPCE)’ in March 1996.

^{^4/}Agence cession Immobilière.

Table 21.

Mali: Deposit Money Banks in December 1996

	Shareholders		Year established	Capital (In millions of CFA francs)	Deposits			Number of branches
	(Percent of total holdings)				Public	Private	Total
					(In millions of CFA francs)
Banque de Développement du Mali (BDM-SA) ^1/	Government	20.0	1968	3,000	50,178	31,331	81,509	13
	BCEAO	20.0
	BOAD	20.0
	Private national shareholders	23.3
	Moroccan bank	16.7
Banque Nationale de Développement Agricole (BNDA)	Government	39.5	1981	8,361	9,341	17,592	26,933	21
	BCEAO	16.8
	Caisse Française de Développement (France)	19.6
	Deutsche Entwicklungs Gesellschaft (Fed. Rep. of Germany)	18.5
	BDM-SA	5.6
Banque Internationale du Mali (BIM-SA) ^2/	Etat	61.5	1980	4,254	3640	52,577	56,217	7
	Private national shareholders	38.5
Banque Malienne de Crédit et de Dépôts (BMCD)	Government	100.0	1961	1,000	3,283	46,735	50,018	6
Bank of Africa-Mali (BOA)	Private national shareholders	76.9	1982	1,400	1,875	30,950	32,825	5
	Private foreign shareholders	23.1
Banque Commerciale du Sahel (BCS; ex-BALIMA)	Government	49.5	1982	1,100	2648	11,146	13,794	1
	Foreign Arab banks	50.0
	Private national shareholders	0.5
Banque de l’Habitat du Mali (BHM)^3/	Government	14.8	1991	1350	569	6,543	7,112	1
	INPS	37.1
	ACI ^4/	25.9
	BIM-SA	7.4
	private national shareholders	14.8

Source: Data provided by the BCEAO.

^{^1/}Restructured into a societe anonyme on June 30, 1989.

^{^2/}Formerly the Banque Internationale pour I’Afrique Occidentale au Mali (BIAO-Mali)

^{^3/}Was changed to a Bank from the ‘Societe des Cheques Postaux et de la Caisse d’Epargne (SCPCE)’ in March 1996.

^{^4/}Agence cession Immobilière.

Table 22.

Mali: Monetary Survey, 1991-96 ^1/

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

^{^1/}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.

^{^2/}Accounts revalued at the new exchange rate of CFAF 100 per French franc.

^{^3/}Excluding SDR allocations and medium- and long-term liabilities.

^{^4/}Defined as base money minus net foreign assets.

^{^5/}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.

^{^6/}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.

^{^7/}Annual percentage change.

Table 22.

Mali: Monetary Survey, 1991-96 ^1/

			1991	1992	1993		1994	1995	1996
					Dec.	Dec. adj. ^2/			Mar.	June	Sept.	Dec.
			(In billions of CFA francs; end of period)
Foreign assets (net) ^3/			65.4	67.8	76.8	62.1	110.3	147.4	183.7	200.2	195.4	212.7
	BCEAO		61.5	63.4	75.8	60.0	52.7	81.0	117.4	144.3	135.0	143.8
	Deposit money banks		3.9	4.4	1.0	2.1	57.6	66.4	66.3	56.0	60.4	68.9
Net domestic assets			95.0	95.6	99.3	119.2	138.8	146.1	152.1	122.8	124.7	116.0
		Of which: BCEAO ^4/	69.8	68.4	68.1	87.9	67.3	50.7	42.2	26.2	14.2	10.8
	Credit to the government (net)		23.4	20.7	28.3	48.1	49.2	16.6	-0.4	-11.4	-15.9	-23.7
		Central bank ^5/	54.6	55.2	59.3	79.2	63.1	53.4	44.0	35.1	23.8	26.7
		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 economy		63.3	68.7	71.4	71.4	83.1	132.6	161.7	163.3	159.7	171.2
		Crop credit	7.5	8.2	5.2	5.2	0.4	4.6	20.4	22.6	7.5	2.9
		Ordinary credit	55.8	60.5	66.2	66.2	82.7	128.0	141.3	140.7	152.2	168.3
	Other items (net) ^6/		8.3	6.1	-0.4	-0.4	6.5	-3.1	-9.2	-29.1	-19.1	-31.4
		Central bank	15.2	13.1	8.7	8.7	4.2	-2.6	-1.8	-8.8	-9.7	-16.0
		Commercial banks	-6.9	-7.0	-9.1	-9.1	2.4	-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 account			0.0	0.0	0.0	1.1	1.1	1.1	1.1	1.1	1.1	1.1
	BCEAO		0.0	0.0	0.0	4.1	4.1	4.1	4.1	4.1	4.1	4.1
	Deposit money banks		0.0	0.0	0.0	-3.0	-3.0	-3.0	-3.0	-3.0	-3.0	-3.0
Money supply (M2)			152.0	157.2	170.4	170.4	237.0	283.5	326.0	313.4	310.7	317.3
	Currency in circulation		59.2	60.9	65.1	65.1	90.4	107.4	121.5	128.2	116.1	120.4
	Bank deposits		92.8	96.3	105.3	105.3	146.6	176.2	204.5	185.2	194.6	196.9
			(Percentage change in relation to beginning-of-year money stock)
Foreign assets (net) ^3/			28.5	1.6	5.7	56.2	28.3	15.7	12.8	18.6	16.9	23.0
	BCEAO		23.6	1.3	7.9	57.7	-4.3	11.9	12.8	22.3	19.0	22.2
	Deposit money banks		4.9	0.3	-2.2	-1.5	32.6	3.7	0.0	-3.7	-2.1	0.9
Net domestic assets			-15.4	0.4	2.4	15.0	11.5	3.1	2.1	-8.2	-7.5	-10.6
	Credit to the Government (net)		-4.6	-1.8	4.8	17.4	0.6	-13.8	-6.0	-9.9	-11.5	-14.2
		Central bank ^5/	4.1	0.5	2.6	15.2	-9.4	-4.1	-3.3	-6.5	-10.4	-9.4
		Commercial banks	-5.0	-2.4	2.7	2.7	10.4	-9.9	-2.8	-3.3	-0.9	-4.7
		Other	-3.7	0.2	-0.5	-0.5	-0.3	0.3	0.1	-0.1	-0.2	-0.2
	Credit to the economy ^7/		4.6	8.5	3.9	3.9	16.4	59.6	…	…	…	29.1
		Crop credit ^7/	0.2	0.4	-1.8	-1.8	-2.8	1050.0	…	…	…	-37.0
		Ordinary credit ^7/	4.7	8.4	9.4	9.4	24.9	54.8	…	…	…	31.5
	Other items (net) ^6/		-12.9	-1.4	-4.2	-4.2	4.1	-4.1	-2.2	-9.2	-5.6	-10.0
Medium- and long-term external liabilities			-0.5	1.4	0.3	-2.3	-0.8	0.9	0.1	0.1	0.2	-0.5
Money supply			12.5	3.4	8.4	8.4	39.1	19.6	25.5	20.7	17.0	14.3
	Currency in circulation		9.1	1.1	2.7	2.7	14.8	7.2	10.6	13.6	9.2	5.5
	Bank deposits		6.6	2.3	5.8	5.8	24.2	12.5	14.9	7.1	7.8	8.7
Memorandum items:
	Velocity of M2		4.5	4.7	4.4	4.4	4.3	4.3	…	…	…	4.3
	Nominal GDP (CFAF billions)		682.1	727.2	755.1	755.1	1028.7	1231.3	…	…	…	1360.7

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

^{^2/}Accounts revalued at the new exchange rate of CFAF 100 per French franc.

^{^3/}Excluding SDR allocations and medium- and long-term liabilities.

^{^4/}Defined as base money minus net foreign assets.

^{^6/}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.

^{^7/}Annual percentage change.

Table 22.

Mali: Monetary Survey, 1991-96 ^1/

			1991	1992	1993		1994	1995	1996
					Dec.	Dec. adj. ^2/			Mar.	June	Sept.	Dec.
			(In billions of CFA francs; end of period)
Foreign assets (net) ^3/			65.4	67.8	76.8	62.1	110.3	147.4	183.7	200.2	195.4	212.7
	BCEAO		61.5	63.4	75.8	60.0	52.7	81.0	117.4	144.3	135.0	143.8
	Deposit money banks		3.9	4.4	1.0	2.1	57.6	66.4	66.3	56.0	60.4	68.9
Net domestic assets			95.0	95.6	99.3	119.2	138.8	146.1	152.1	122.8	124.7	116.0
		Of which: BCEAO ^4/	69.8	68.4	68.1	87.9	67.3	50.7	42.2	26.2	14.2	10.8
	Credit to the government (net)		23.4	20.7	28.3	48.1	49.2	16.6	-0.4	-11.4	-15.9	-23.7
		Central bank ^5/	54.6	55.2	59.3	79.2	63.1	53.4	44.0	35.1	23.8	26.7
		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 economy		63.3	68.7	71.4	71.4	83.1	132.6	161.7	163.3	159.7	171.2
		Crop credit	7.5	8.2	5.2	5.2	0.4	4.6	20.4	22.6	7.5	2.9
		Ordinary credit	55.8	60.5	66.2	66.2	82.7	128.0	141.3	140.7	152.2	168.3
	Other items (net) ^6/		8.3	6.1	-0.4	-0.4	6.5	-3.1	-9.2	-29.1	-19.1	-31.4
		Central bank	15.2	13.1	8.7	8.7	4.2	-2.6	-1.8	-8.8	-9.7	-16.0
		Commercial banks	-6.9	-7.0	-9.1	-9.1	2.4	-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 account			0.0	0.0	0.0	1.1	1.1	1.1	1.1	1.1	1.1	1.1
	BCEAO		0.0	0.0	0.0	4.1	4.1	4.1	4.1	4.1	4.1	4.1
	Deposit money banks		0.0	0.0	0.0	-3.0	-3.0	-3.0	-3.0	-3.0	-3.0	-3.0
Money supply (M2)			152.0	157.2	170.4	170.4	237.0	283.5	326.0	313.4	310.7	317.3
	Currency in circulation		59.2	60.9	65.1	65.1	90.4	107.4	121.5	128.2	116.1	120.4
	Bank deposits		92.8	96.3	105.3	105.3	146.6	176.2	204.5	185.2	194.6	196.9
			(Percentage change in relation to beginning-of-year money stock)
Foreign assets (net) ^3/			28.5	1.6	5.7	56.2	28.3	15.7	12.8	18.6	16.9	23.0
	BCEAO		23.6	1.3	7.9	57.7	-4.3	11.9	12.8	22.3	19.0	22.2
	Deposit money banks		4.9	0.3	-2.2	-1.5	32.6	3.7	0.0	-3.7	-2.1	0.9
Net domestic assets			-15.4	0.4	2.4	15.0	11.5	3.1	2.1	-8.2	-7.5	-10.6
	Credit to the Government (net)		-4.6	-1.8	4.8	17.4	0.6	-13.8	-6.0	-9.9	-11.5	-14.2
		Central bank ^5/	4.1	0.5	2.6	15.2	-9.4	-4.1	-3.3	-6.5	-10.4	-9.4
		Commercial banks	-5.0	-2.4	2.7	2.7	10.4	-9.9	-2.8	-3.3	-0.9	-4.7
		Other	-3.7	0.2	-0.5	-0.5	-0.3	0.3	0.1	-0.1	-0.2	-0.2
	Credit to the economy ^7/		4.6	8.5	3.9	3.9	16.4	59.6	…	…	…	29.1
		Crop credit ^7/	0.2	0.4	-1.8	-1.8	-2.8	1050.0	…	…	…	-37.0
		Ordinary credit ^7/	4.7	8.4	9.4	9.4	24.9	54.8	…	…	…	31.5
	Other items (net) ^6/		-12.9	-1.4	-4.2	-4.2	4.1	-4.1	-2.2	-9.2	-5.6	-10.0
Medium- and long-term external liabilities			-0.5	1.4	0.3	-2.3	-0.8	0.9	0.1	0.1	0.2	-0.5
Money supply			12.5	3.4	8.4	8.4	39.1	19.6	25.5	20.7	17.0	14.3
	Currency in circulation		9.1	1.1	2.7	2.7	14.8	7.2	10.6	13.6	9.2	5.5
	Bank deposits		6.6	2.3	5.8	5.8	24.2	12.5	14.9	7.1	7.8	8.7
Memorandum items:
	Velocity of M2		4.5	4.7	4.4	4.4	4.3	4.3	…	…	…	4.3
	Nominal GDP (CFAF billions)		682.1	727.2	755.1	755.1	1028.7	1231.3	…	…	…	1360.7

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

^{^2/}Accounts revalued at the new exchange rate of CFAF 100 per French franc.

^{^3/}Excluding SDR allocations and medium- and long-term liabilities.

^{^4/}Defined as base money minus net foreign assets.

^{^6/}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.

^{^7/}Annual percentage change.

Table 23.

Mali: Summary Accounts of the Central Bank, 1991-96 ^1/

(In billions of CFA francs; end of period)

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

^{^1/}Data may not add up because of rounding.

^{^2/}Accounts revalued at the new exchange rate of CFAF 100 per French franc.

^{^3/}Excluding SDR counterpart.

^{^4/}These claims were securitized and sold to Malian commercial banks in 1994.

^{^5/}Including cash held by the Treasury.

Table 23.

Mali: Summary Accounts of the Central Bank, 1991-96 ^1/

(In billions of CFA francs; end of period)

				1991	1992	1993		1994	1995	1996
						Act.	Act. adj. ^2/
Foreign assets (net)				61.5	63.4	75.8	60.0	52.7	81.0	143.8
	Assets			82.9	84.8	97.8	101.5	118.6	158.6	233.1
	Liabilities ^3/			-21.4	-21.4	-22.0	-41.5	-65.9	-77.7	-89.3
Net domestic assets				69.8	68.4	68.1	87.9	67.3	50.7	10.8
	Claims on the government (net)			54.6	55.2	59.3	79.2	63.1	53.4	26.7
		Claims		58.4	61.1	64.9	84.7	75.8	80.5	90.3
			Consolidated claims ^4/	23.9	23.9	23.9	23.9	0.0	4.7	3.0
		Liabilities ^5/		-3.8	-5.9	-5.5	-5.5	-12.8	-27.1	-63.6
	Other items (net)			15.2	13.1	8.7	8.7	4.2	-2.6	-16.0
Claims on deposit money banks (net)				-72.0	-70.8	-78.7	-78.7	-25.5	-20.2	-30.0
	Claims			0.0	0.0	0.0	0.0	0.0	0.0	0.0
		Advances to money market		0.0	0.0	0.0	0.0	0.0	0.0	0.0
		Rediscounts and other advances		0.0	0.0	0.0	0.0	0.0	0.0	0.0
	Liabilities			72.0	70.8	78.7	78.7	25.5	20.2	30.0
		Deposits in money market		68.2	68.0	57.1	57.1	3.7	2.4	0.0
			Other deposits	0.7	0.4	18.4	18.4	14.5	10.9	19.4
			Currency held by banks	3.1	2.4	3.2	3.2	7.3	6.9	10.6
Revaluation account				0.0	0.0	0.0	4.1	4.1	4.1	4.1
Currency outside banks				59.2	60.9	65.1	65.1	90.4	107.4	120.4

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

^{^1/}Data may not add up because of rounding.

^{^2/}Accounts revalued at the new exchange rate of CFAF 100 per French franc.

^{^3/}Excluding SDR counterpart.

^{^4/}These claims were securitized and sold to Malian commercial banks in 1994.

^{^5/}Including cash held by the Treasury.

Table 23.

Mali: Summary Accounts of the Central Bank, 1991-96 ^1/

(In billions of CFA francs; end of period)

				1991	1992	1993		1994	1995	1996
						Act.	Act. adj. ^2/
Foreign assets (net)				61.5	63.4	75.8	60.0	52.7	81.0	143.8
	Assets			82.9	84.8	97.8	101.5	118.6	158.6	233.1
	Liabilities ^3/			-21.4	-21.4	-22.0	-41.5	-65.9	-77.7	-89.3
Net domestic assets				69.8	68.4	68.1	87.9	67.3	50.7	10.8
	Claims on the government (net)			54.6	55.2	59.3	79.2	63.1	53.4	26.7
		Claims		58.4	61.1	64.9	84.7	75.8	80.5	90.3
			Consolidated claims ^4/	23.9	23.9	23.9	23.9	0.0	4.7	3.0
		Liabilities ^5/		-3.8	-5.9	-5.5	-5.5	-12.8	-27.1	-63.6
	Other items (net)			15.2	13.1	8.7	8.7	4.2	-2.6	-16.0
Claims on deposit money banks (net)				-72.0	-70.8	-78.7	-78.7	-25.5	-20.2	-30.0
	Claims			0.0	0.0	0.0	0.0	0.0	0.0	0.0
		Advances to money market		0.0	0.0	0.0	0.0	0.0	0.0	0.0
		Rediscounts and other advances		0.0	0.0	0.0	0.0	0.0	0.0	0.0
	Liabilities			72.0	70.8	78.7	78.7	25.5	20.2	30.0
		Deposits in money market		68.2	68.0	57.1	57.1	3.7	2.4	0.0
			Other deposits	0.7	0.4	18.4	18.4	14.5	10.9	19.4
			Currency held by banks	3.1	2.4	3.2	3.2	7.3	6.9	10.6
Revaluation account				0.0	0.0	0.0	4.1	4.1	4.1	4.1
Currency outside banks				59.2	60.9	65.1	65.1	90.4	107.4	120.4

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

^{^1/}Data may not add up because of rounding.

^{^2/}Accounts revalued at the new exchange rate of CFAF 100 per French franc.

^{^3/}Excluding SDR counterpart.

^{^4/}These claims were securitized and sold to Malian commercial banks in 1994.

^{^5/}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)

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

^{^1/}Data may not add up because of rounding.

^{^2/}Including transactions and adjustments resulting from the restructuring of the Banque de Développement du Mali, and reclassifications of deposits resulting from other bank audits.

^{^3/}Accounts revalued at the new exchange rate of CFAF 100 per French franc.

^{^4/}Does not match the credit to the private sector shown in table 22 due to a different classification of collateralized bonds.

Table 24.

Mali: Summary Accounts of the Deposit Money Banks, 1991-96 ^1/ ^2/

(In billions of CFA francs; end of period)

			1991	1992	1993		1994	1995	1996
					Act.	Act. adj. ^3/
Foreign assets (net)			3.9	4.4	1.0	2.1	57.6	66.4	68.9
	Assets		15.8	11.1	7.8	14.2	65.6	74.8	75.8
	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
		Claims	2.6	3.4	3.4	3.4	28.0	19.0	23.1
		Deposits	-32.7.	-37.2	-33.0	-33.0	-39.9	-54.3	-71.5
	Credit to the private sector ^4/		62.3	68.0	69.9	69.9	81.0	131.1	169.1
		Crop credit	7.5	8.2	5.2	5.2	0.4	4.6	2.9
		Other	54.8	59.8	64.7	64.7	80.6	126.5	166.2
	Other items (net)		-6.7	-7.0	-9.1	-9.1	2.4	-0.5	-15.5
Reserves			71.8	70.6	79.4	79.4	26.1	20.2	30.0
	Money market position (net)		67.7	68.0	57.1	57.1	3.7	2.4	0.0
		Deposits	67.7	68.0	57.1	57.1	3.7	2.4	0.0
		Advances	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	Other reserves		4.1	2.6	22.3	22.3	22.4	17.8	30.0
		Currency holdings	3.1	2.4	3.2	3.2	7.3	6.9	10.6
		Deposits at central bank	1.0	0.2	19.1	19.1	15.1	10.9	19.4
Medium- and long-term external liabilities			-8.4	-6.2	-5.7	-9.8	-11.1	-8.9	-10.3
Revaluation account			0.0	0.0	0.0	-3.0	-3.0	-3.0	-3.0
Deposits			92.8	96.3	105.3	105.3	146.6	176.2	196.9
	Demand		47.4	47.4	52.7	52.7	83.7	100.0	119.4
		Of which: public enterprises	9.8	7.0	5.7	5.7	9.0	7.0	7.0
	Time		45.4	48.9	52.6	52.6	62.9	76.2	77.5
		Of which: public enterprises	1.7	2.0	3.1	3.1	5.3	8.3	6.3

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

^{^1/}Data may not add up because of rounding.

^{^2/}Including transactions and adjustments resulting from the restructuring of the Banque de Développement du Mali, and reclassifications of deposits resulting from other bank audits.

^{^3/}Accounts revalued at the new exchange rate of CFAF 100 per French franc.

^{^4/}Does not match the credit to the private sector shown in table 22 due to a different classification of collateralized bonds.

Table 24.

Mali: Summary Accounts of the Deposit Money Banks, 1991-96 ^1/ ^2/

(In billions of CFA francs; end of period)

			1991	1992	1993		1994	1995	1996
					Act.	Act. adj. ^3/
Foreign assets (net)			3.9	4.4	1.0	2.1	57.6	66.4	68.9
	Assets		15.8	11.1	7.8	14.2	65.6	74.8	75.8
	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
		Claims	2.6	3.4	3.4	3.4	28.0	19.0	23.1
		Deposits	-32.7.	-37.2	-33.0	-33.0	-39.9	-54.3	-71.5
	Credit to the private sector ^4/		62.3	68.0	69.9	69.9	81.0	131.1	169.1
		Crop credit	7.5	8.2	5.2	5.2	0.4	4.6	2.9
		Other	54.8	59.8	64.7	64.7	80.6	126.5	166.2
	Other items (net)		-6.7	-7.0	-9.1	-9.1	2.4	-0.5	-15.5
Reserves			71.8	70.6	79.4	79.4	26.1	20.2	30.0
	Money market position (net)		67.7	68.0	57.1	57.1	3.7	2.4	0.0
		Deposits	67.7	68.0	57.1	57.1	3.7	2.4	0.0
		Advances	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	Other reserves		4.1	2.6	22.3	22.3	22.4	17.8	30.0
		Currency holdings	3.1	2.4	3.2	3.2	7.3	6.9	10.6
		Deposits at central bank	1.0	0.2	19.1	19.1	15.1	10.9	19.4
Medium- and long-term external liabilities			-8.4	-6.2	-5.7	-9.8	-11.1	-8.9	-10.3
Revaluation account			0.0	0.0	0.0	-3.0	-3.0	-3.0	-3.0
Deposits			92.8	96.3	105.3	105.3	146.6	176.2	196.9
	Demand		47.4	47.4	52.7	52.7	83.7	100.0	119.4
		Of which: public enterprises	9.8	7.0	5.7	5.7	9.0	7.0	7.0
	Time		45.4	48.9	52.6	52.6	62.9	76.2	77.5
		Of which: public enterprises	1.7	2.0	3.1	3.1	5.3	8.3	6.3

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

^{^1/}Data may not add up because of rounding.

^{^2/}Including transactions and adjustments resulting from the restructuring of the Banque de Développement du Mali, and reclassifications of deposits resulting from other bank audits.

^{^3/}Accounts revalued at the new exchange rate of CFAF 100 per French franc.

^{^4/}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)

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

^{^1/}Data may not add up because of rounding.

^{^2/}Including transactions and adjustments resulting from the restructuring of the BDM, and reclassifications of deposits resulting from other bank audits.

^{^3/}Accounts revalued at the new exchange rate of CFAF 100 per French franc.

^{^4/}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.

^{^4/}Includes the cotton stabilization fund.

Table 25.

Mali: Claims on the Government, 1991-96 ^1/ ^2/

(In billions of CFA francs; end of period)

			1991	1992	1993		1994	1995	1996
					Act.	Act. adj. ^3/
Central bank, net claims			54.6	55.2	59.3	79.2	63.1	53.4	26.7
	Claims		58.4	61.1	64.9	84.7	75.8	80.5	90.3
		Treasury overdraft	17.8	18.8	21.1	21.1	18.4	0.0	0.0
		Trust Fund on-lent	0.0	0.0	0.0	0.0	0.0	0.0	0.0
		IMF credit on-lent	16.7	18.5	19.8	39.7	57.4	75.8	87.3
		Consolidated claims ^4/	23.9	23.9	23.9	23.9	0.0	4.7	3.0
	Liabilities		3.8	5.9	5.5	5.5	12.8	27.1	63.6
		Treasury currency holdings	2.0	1.0	3.0	3.0	3.0	5.2	6.6
		Government deposits	1.8	4.9	2.5	2.5	9.8	21.9	57.0
Deposit money banks, net claims			-30.1	-33.8	-29.5	-29.5	-11.8	-35.2	-48.4
	Claims ^4/		2.6	3.4	3.4	3.4	28.0	19.0	23.1
	Liabilities		32.7	37.1	33.0	33.0	39.8	54.3	71.5
Counterparts			-1.0	-0.7	-1.5	-1.5	-2.1	-1.5	-2.0
	Customs duty bills held by the Treasury		1.0	0.7	1.5	1.5	2.1	1.5	2.0
Net claims on the government			23.4	20.7	28.3	48.1	49.2	16.6	-23.7
	Of which: banking system ^5/		23.4	20.7	28.3	48.1	49.2	16.6	-23.7

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

^{^1/}Data may not add up because of rounding.

^{^2/}Including transactions and adjustments resulting from the restructuring of the BDM, and reclassifications of deposits resulting from other bank audits.

^{^3/}Accounts revalued at the new exchange rate of CFAF 100 per French franc.

^{^4/}Includes the cotton stabilization fund.

Table 25.

Mali: Claims on the Government, 1991-96 ^1/ ^2/

(In billions of CFA francs; end of period)

			1991	1992	1993		1994	1995	1996
					Act.	Act. adj. ^3/
Central bank, net claims			54.6	55.2	59.3	79.2	63.1	53.4	26.7
	Claims		58.4	61.1	64.9	84.7	75.8	80.5	90.3
		Treasury overdraft	17.8	18.8	21.1	21.1	18.4	0.0	0.0
		Trust Fund on-lent	0.0	0.0	0.0	0.0	0.0	0.0	0.0
		IMF credit on-lent	16.7	18.5	19.8	39.7	57.4	75.8	87.3
		Consolidated claims ^4/	23.9	23.9	23.9	23.9	0.0	4.7	3.0
	Liabilities		3.8	5.9	5.5	5.5	12.8	27.1	63.6
		Treasury currency holdings	2.0	1.0	3.0	3.0	3.0	5.2	6.6
		Government deposits	1.8	4.9	2.5	2.5	9.8	21.9	57.0
Deposit money banks, net claims			-30.1	-33.8	-29.5	-29.5	-11.8	-35.2	-48.4
	Claims ^4/		2.6	3.4	3.4	3.4	28.0	19.0	23.1
	Liabilities		32.7	37.1	33.0	33.0	39.8	54.3	71.5
Counterparts			-1.0	-0.7	-1.5	-1.5	-2.1	-1.5	-2.0
	Customs duty bills held by the Treasury		1.0	0.7	1.5	1.5	2.1	1.5	2.0
Net claims on the government			23.4	20.7	28.3	48.1	49.2	16.6	-23.7
	Of which: banking system ^5/		23.4	20.7	28.3	48.1	49.2	16.6	-23.7

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

^{^1/}Data may not add up because of rounding.

^{^2/}Including transactions and adjustments resulting from the restructuring of the BDM, and reclassifications of deposits resulting from other bank audits.

^{^3/}Accounts revalued at the new exchange rate of CFAF 100 per French franc.

^{^4/}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)

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

^{^1/}Data may not add up because of rounding.

^{^2/}Accounts revalued at the new exchange rate of CFAF 100 per French franc.

^{^3/}Differs from net foreign assets in Tables 22 and 24, which exclude medium- and long-term foreign liabilities.

Table 26.

Mali: Foreign Assets and Liabilities of the Banking System, 1991-96 ^1/

(In billions of CFA francs; end of period)

			1991	1992	1993		1994	1995	1996
					Act.	Act. adj. ^2/
Banking system (net) ^3/			57.0	61.5	71.1	52.3	99.2	138.5	202.4
	Foreign assets		98.7	95.9	105.5	115.7	184.2	238.5	304.7
	Foreign liabilities		41.7	34.4	34.4	63.4	85.0	100.1	102.3
Central bank (net)			61.5	63.4	75.8	60.0	52.7	81.0	143.8
	Foreign assets		82.9	84.8	97.8	101.5	118.6	158.6	233.1
		Foreign exchange	79.4	81.5	94.4	94.8	111.4	151.4	226.3
		Special drawing rights	0.1	0.0	0.0	0.1	0.1	0.2	0.2
		Reserve position in the Fund	3.4	3.3	3.3	6.6	7.1	7.0	6.6
	Foreign liabilities		21.4	21.4	22.0	41.5	65.9	77.7	89.3
		Use of Fund resources	16.5	18.2	19.5	39.0	60.0	76.6	84.3
		Trust Fund	0.0	0.0	0.0	0.0	0.0	0.0	0.0
		Other	4.9	3.2	2.5	2.5	5.9	1.1	5.0
Deposit money banks (net) ^3/			-4.5	-1.9	-4.7	-7.7	46.5	57.5	58.6
	Foreign assets		15.8	11.1	7.8	14.2	65.6	74.8	75.8
	Foreign liabilities ^3/		20.3	13.0	12.4	21.9	19.1	17.3	17.2
		Short-term	11.9	6.7	6.8	12.1	8.0	8.4	6.9
		Medium- and long-term	8.4	6.2	5.7	9.8	11.1	8.9	10.3

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

^{^1/}Data may not add up because of rounding.

^{^2/}Accounts revalued at the new exchange rate of CFAF 100 per French franc.

^{^3/}Differs from net foreign assets in Tables 22 and 24, which exclude medium- and long-term foreign liabilities.

Table 26.

Mali: Foreign Assets and Liabilities of the Banking System, 1991-96 ^1/

(In billions of CFA francs; end of period)

			1991	1992	1993		1994	1995	1996
					Act.	Act. adj. ^2/
Banking system (net) ^3/			57.0	61.5	71.1	52.3	99.2	138.5	202.4
	Foreign assets		98.7	95.9	105.5	115.7	184.2	238.5	304.7
	Foreign liabilities		41.7	34.4	34.4	63.4	85.0	100.1	102.3
Central bank (net)			61.5	63.4	75.8	60.0	52.7	81.0	143.8
	Foreign assets		82.9	84.8	97.8	101.5	118.6	158.6	233.1
		Foreign exchange	79.4	81.5	94.4	94.8	111.4	151.4	226.3
		Special drawing rights	0.1	0.0	0.0	0.1	0.1	0.2	0.2
		Reserve position in the Fund	3.4	3.3	3.3	6.6	7.1	7.0	6.6
	Foreign liabilities		21.4	21.4	22.0	41.5	65.9	77.7	89.3
		Use of Fund resources	16.5	18.2	19.5	39.0	60.0	76.6	84.3
		Trust Fund	0.0	0.0	0.0	0.0	0.0	0.0	0.0
		Other	4.9	3.2	2.5	2.5	5.9	1.1	5.0
Deposit money banks (net) ^3/			-4.5	-1.9	-4.7	-7.7	46.5	57.5	58.6
	Foreign assets		15.8	11.1	7.8	14.2	65.6	74.8	75.8
	Foreign liabilities ^3/		20.3	13.0	12.4	21.9	19.1	17.3	17.2
		Short-term	11.9	6.7	6.8	12.1	8.0	8.4	6.9
		Medium- and long-term	8.4	6.2	5.7	9.8	11.1	8.9	10.3

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

^{^1/}Data may not add up because of rounding.

^{^2/}Accounts revalued at the new exchange rate of CFAF 100 per French franc.

^{^3/}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)

Source: Data provided by the BCEAO.

^{^1/}Until October 14, 1993, these rates were for overnight advances; on that date, the money market was transformed into a weekly auction.

^{^2/}Since January 1, 1985, deposit money banks have no longer been required to remunerate sight deposits.

^{^3/}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.

^{^4/}Average monthly money market rate minus 2 percent.

Table 27.

Mali: Interest Rates, 1993-96

(In percent per year)

			April 26, 1993-Sept 30, 1993	Oct. 1, 1993-Dec. 19, 1993	Dec. 20, 1993-Jan. 17, 1994	Jan. 18, 1994-June 26, 1994	June 27, 1994-July 31, 1994	Aug 1, 1994-Aug 31, 1994	Sept 1, 1994-Jan. 22, 1995	Jan 23, 1995-June 4, 1995	June 5, 1995-Dec. 25, 1995	Dec. 26, 1995-Aug. 4, 1996	Aug. 5, 1996-Aug. 18, 1996	Aug. 19, 1996 to date
Central bank
	Discount rate		12.5	12.5	10.5	14.5	12	11	10	9	8.5	7.5	7.25	7
	Money market advances ^1/		11.225-10.225	10.225-7.35	7.25-8.00	8.00-9.25	8.00-6.50	6.25-5.75	5.75-5.0	5.5	5.5-5.75	6.0-5.0	5.0-4.75	4
Lending rates
	Crop financing and agricultural export credit		17.5 max	free	free	free	free	free	free	free	free	free	free	free
	Public enterprises		17.5 max	free	free	free	free	free	free	free	free	free	free	free
	Private enterprises		17.5 max	free	free	free	free	free	free	free	free	free	free	free
Deposit rates Sight ^2/			free	free	free	free	free	free	free	free	free	free	free	free
	Savings deposits		8.5	4.5	4.5	8	8.00-5.00	5	5	4.5	4.5	4.5-3.5	3.5	3.5
	Time deposits ^3/
		Less than six months	8.5	TMM-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 year	9.5	TMM-2%	TMM-2%	TMM-2%	TMM-2%	TMM-2%	TMM-2%	TMM-2%	TMM-2%	TMM-2%	TMM-2%	TMM-2%
		Over one year	10.5	free	free	free	free	free	free	free	free	free	free	free

Source: Data provided by the BCEAO.

^{^1/}Until October 14, 1993, these rates were for overnight advances; on that date, the money market was transformed into a weekly auction.

^{^2/}Since January 1, 1985, deposit money banks have no longer been required to remunerate sight deposits.

^{^4/}Average monthly money market rate minus 2 percent.

Table 27.

Mali: Interest Rates, 1993-96

(In percent per year)

			April 26, 1993-Sept 30, 1993	Oct. 1, 1993-Dec. 19, 1993	Dec. 20, 1993-Jan. 17, 1994	Jan. 18, 1994-June 26, 1994	June 27, 1994-July 31, 1994	Aug 1, 1994-Aug 31, 1994	Sept 1, 1994-Jan. 22, 1995	Jan 23, 1995-June 4, 1995	June 5, 1995-Dec. 25, 1995	Dec. 26, 1995-Aug. 4, 1996	Aug. 5, 1996-Aug. 18, 1996	Aug. 19, 1996 to date
Central bank
	Discount rate		12.5	12.5	10.5	14.5	12	11	10	9	8.5	7.5	7.25	7
	Money market advances ^1/		11.225-10.225	10.225-7.35	7.25-8.00	8.00-9.25	8.00-6.50	6.25-5.75	5.75-5.0	5.5	5.5-5.75	6.0-5.0	5.0-4.75	4
Lending rates
	Crop financing and agricultural export credit		17.5 max	free	free	free	free	free	free	free	free	free	free	free
	Public enterprises		17.5 max	free	free	free	free	free	free	free	free	free	free	free
	Private enterprises		17.5 max	free	free	free	free	free	free	free	free	free	free	free
Deposit rates Sight ^2/			free	free	free	free	free	free	free	free	free	free	free	free
	Savings deposits		8.5	4.5	4.5	8	8.00-5.00	5	5	4.5	4.5	4.5-3.5	3.5	3.5
	Time deposits ^3/
		Less than six months	8.5	TMM-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 year	9.5	TMM-2%	TMM-2%	TMM-2%	TMM-2%	TMM-2%	TMM-2%	TMM-2%	TMM-2%	TMM-2%	TMM-2%	TMM-2%
		Over one year	10.5	free	free	free	free	free	free	free	free	free	free	free

Source: Data provided by the BCEAO.

^{^1/}Until October 14, 1993, these rates were for overnight advances; on that date, the money market was transformed into a weekly auction.

^{^2/}Since January 1, 1985, deposit money banks have no longer been required to remunerate sight deposits.

^{^4/}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)

Source: Information provided by the BCEAO.

^{^1/}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.

^{^2/}Applied also to advances against government and private paper, to rediscount of customs duty bills, and to repurchase agreements (prise en pension).

^{^3/}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.

^{^4/}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 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, 1989	10.00	9.00	…
October 2, 1989	abolished	abolished	10.50
November 27, 1989			11.00
August 20, 1992			13.00
November 9, 1992			12.50
December 20, 1993			10.50
January 18, 1994			14.50
June 27, 1994			12.00
August 1, 1994			11.00
September 1, 1994			10.00
January 23, 1995			9.00
June 5, 1995			8.50
December 26, 1995			7.50
August 5, 1996			7.25
August 19, 1996			7.00
September 2, 1996			7.25
September 16, 1996			7.00
October 21, 1996			6.50
February 17, 1997			6.25
September 8, 1997			6.00

Source: Information provided by the BCEAO.

^{^2/}Applied also to advances against government and private paper, to rediscount of customs duty bills, and to repurchase agreements (prise en pension).

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, 1989	10.00	9.00	…
October 2, 1989	abolished	abolished	10.50
November 27, 1989			11.00
August 20, 1992			13.00
November 9, 1992			12.50
December 20, 1993			10.50
January 18, 1994			14.50
June 27, 1994			12.00
August 1, 1994			11.00
September 1, 1994			10.00
January 23, 1995			9.00
June 5, 1995			8.50
December 26, 1995			7.50
August 5, 1996			7.25
August 19, 1996			7.00
September 2, 1996			7.25
September 16, 1996			7.00
October 21, 1996			6.50
February 17, 1997			6.25
September 8, 1997			6.00

Source: Information provided by the BCEAO.

^{^2/}Applied also to advances against government and private paper, to rediscount of customs duty bills, and to repurchase agreements (prise en pension).

Table 29.

Mali: Interest Rates in the Money Market, 1991-97

(In percent per year)

Source: Information provided by the BCEAO.

^{^1/}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 29.

Mali: Interest Rates in the Money Market, 1991-97

(In percent per year)

		Overnight		One-month		Three-month
		Deposits	Advances	Deposits	Advances	Deposits	Advances
1991
	November 4	10.600	10.725	10.725	10.850	10.850	10.975
1992
	June 22	10.100	10.725	10.225	10.850	10.350	10.975
	August 20	11.100	12.725	11.225	12.850	11.350	12.975
	November 9	10.100	11.975	10.225	12.100	10.350	12.225
1993
	April 26	9.350	11.225	9.475	11.350	9.600	11.475
	May 10	8.850	10.725	8.975	10.850	9.100	10.975
	May 24	8.350	10.225	8.475	10.350	8.600	10.475
	October 14 ^1/	0.000	9.500	8.475	10.350	8.600	10.475
	October 21	0.000	9.375	8.475	10.350	8.600	10.475
	October 28	0.000	9.000	8.475	10.350	8.600	10.475
	November 4	0.000	8.750	8.475	10.350	8.600	10.475
	November 11	0.000	8.500	8.475	10.350	8.600	10.475
	November 18	0.000	8.000	8.475	10.350	8.600	10.475
	November 25	0.000	7.750	8.475	10.350	8.600	10.475
	December 2	0.000	7.625	0.000	0.000	8.600	0.000
	December 9	0.000	7.500	0.000	0.000	8.600	0.000
	December 16	0.000	7.350	0.000	0.000	8.600	0.000
	December 30	0.000	7.250	0.000	0.000	8.600	0.000
1994
	January 6	0.000	7.500	0.000	0.000	0.000	0.000
	January 13	0.000	8.000	0.000	0.000	0.000	0.000
	January 20	0.000	9.000	0.000	0.000	0.000	0.000
	January 27	0.000	9.250	0.000	0.000	0.000	0.000
	June 20	0.000	8.250	0.000	0.000	0.000	0.000
	June 27	0.000	8.000	0.000	0.000	0.000	0.000
	July 4	0.000	7.500	0.000	0.000	0.000	0.000
	Jury 11	0.000	7.000	0.000	0.000	0.000	0.000
	July 18	0.000	6.750	0.000	0.000	0.000	0.000
	July 25	0.000	6.500	0.000	0.000	0.000	0.000
	August 1	0.000	6.250	0.000	0.000	0.000	0.000
	August 8	0.000	6.000	0.000	0.000	0.000	0.000
	August 15	0.000	5.850	0.000	0.000	0.000	0.000
	August 22	0.000	5.750	0.000	0.000	0.000	0.000
	September 19	0.000	5.600	0.000	0.000	0.000	0.000
	September 26	0.000	5.500	0.000	0.000	0.000	0.000
	December 5	0.000	5.000	0.000	0.000	0.000	0.000
	December 26	0.000	5.500	0.000	0.000	0.000	0.000
1995
	December 11	0.000	5.750	0.000	0.000	0.000	0.000
	December 18	0.000	6.000	0.000	0.000	0.000	0.000
1996
	January 2	0.000	5.500	0.000	0.000	0.000	0.000
	April 30	0.000	5.250	0.000	0.000	0.000	0.000
	June 3	0.000	5.000	0.000	0.000	0.000	0.000
	June 17	0.000	5.500	0.000	0.000	0.000	0.000

Auctions	Value date	Marginal	Minimum proposed	Maximum proposed	Weighted average
	1996
Injection of liquidity	7/15/96	5.500	…	…	5.961
Injection of liquidity	7/22/96	5.250	…	…	5.250
Injection of liquidity	7/29/96	5.250	…	…	5.250
Issue of BCEAO bonds	8/5/96	5.000	1.000	6.000	4.145
Issue of BCEAO bonds	8/12/96	4.750	4.000	5.250	4.513
Issue of BCEAO bonds	8/19/96	4.000	3.500	5.250	3.725
Issue of BCEAO bonds	8/26/96	4.000	2.500	5.500	3.577
Issue of BCEAO bonds	9/2/96	4.000	2.500	5.000	3.609
Issue of BCEAO bonds	9/9/96	4.000	2.500	5.424	3.698
Issue of BCEAO bonds	9/16/96	4.000	2.500	5.424	3.740
Issue of BCEAO bonds	9/23/96	4.000	2.800	5.424	3.741
Issue of BCEAO bonds	9/30/96	4.000	3.000	5.424	3.740
Issue of BCEAO bonds	10/7/96	4.000	3.000	5.424	3.759
Issue of BCEAO bonds	10/14/96	4.250	3.000	5.424	3.771
Issue of BCEAO bonds	10/21/96	4.250	3.000	5.000	3.645
Issue of BCEAO bonds	10/28/96	4.000	3.000	5.000	3.795
Injection of liquidity	11/25/96	5.000	…	…	5.474
Injection of liquidity	12/2/96	5.250	…	…	5.444
Injection of liquidity	12/9/96	5.000	…	…	5.441
Injection of liquidity	12/16/96	5.000	…	…	5.407
Injection of liquidity	12/23/96	5.000	…	…	5.411
Injection of liquidity	12/30/96	5.000	…	…	5.389
	1997
Injection of liquidity	1/13/97	5.000	5.000	6.000	5.164
Injection of liquidity	1/20/97	5.000	5.000	5.750	5.369
Injection of liquidity	1/27/97	5.250	4.900	5.500	5.430
Injection of liquidity	2/3/97	5.200	5.200	5.750	5.386
Injection of liquidity	2/10/97	5.200	5.200	5.500	5.416
Injection of liquidity	2/17/97	5.000	5.000	5.000	5.000
Injection of liquidity	2/24/97	5.000	5.000	5.000	5.000
Injection of liquidity	3/3/97	5.000	5.000	5.400	5.049
Injection of liquidity	3/10/97	5.000	5.000	5.350	5.031
Injection of liquidity	3/17/97	5.000	5.000	5.300	5.015
Injection of liquidity	3/24/97	5.000	5.000	5.250	5.014
Injection of liquidity	4/1/97	5.000	5.000	5.250	5.011
Injection of liquidity	4/7/97	5.000	5.000	5.250	5.031
Injection of liquidity	4/14/97	5.000	4.500	5.250	5.023
Injection of liquidity	4/21/97	5.000	4.500	5.250	5.043
Injection of liquidity	4/28/97	5.000	4.500	5.250	5.039
Injection of liquidity	5/5/97	5.000	5.000	5.250	5.076
Injection of liquidity	5/12/97	5.000	4.250	5.250	5.124
Injection of liquidity	5/19/97	5.000	5.000	5.500	5.173
Injection of liquidity	5/26/97	5.020	5.020	5.500	5.188
Issue of BCEAO bonds	6/16/97	4.740	2.800	6.000	3.857
Issue of BCEAO bonds	6/23/97	4.700	3.250	5.250	4.159
Issue of BCEAO bonds	6/30/97	4.650	3.230	4.650	4.436
Issue of BCEAO bonds	7/7/97	4.600	3.500	5.125	4.404
Issue of BCEAO bonds	7/14/97	4.600	3.250	4.900	4.209
Issue of BCEAO bonds	7/21/97	4.750	3.500	5.150	4.327
Issue of BCEAO bonds	7/28/97	5.000	4.500	5.000	4.641
Issue of BCEAO bonds	8/4/97	4.000	4.000	4.000	4.000
Issue of BCEAO bonds	8/11/97	4.000	4.000	4.000	4.000
Issue of BCEAO bonds	8/18/97	4.000	4.000	4.000	4.000
Issue of BCEAO bonds	8/25/97	4.000	4.000	4.000	4.000
Issue of BCEAO bonds	9/1/97	4.000	4.000	4.000	4.000

Source: Information provided by the BCEAO.

Table 29.

Mali: Interest Rates in the Money Market, 1991-97

(In percent per year)

		Overnight		One-month		Three-month
		Deposits	Advances	Deposits	Advances	Deposits	Advances
1991
	November 4	10.600	10.725	10.725	10.850	10.850	10.975
1992
	June 22	10.100	10.725	10.225	10.850	10.350	10.975
	August 20	11.100	12.725	11.225	12.850	11.350	12.975
	November 9	10.100	11.975	10.225	12.100	10.350	12.225
1993
	April 26	9.350	11.225	9.475	11.350	9.600	11.475
	May 10	8.850	10.725	8.975	10.850	9.100	10.975
	May 24	8.350	10.225	8.475	10.350	8.600	10.475
	October 14 ^1/	0.000	9.500	8.475	10.350	8.600	10.475
	October 21	0.000	9.375	8.475	10.350	8.600	10.475
	October 28	0.000	9.000	8.475	10.350	8.600	10.475
	November 4	0.000	8.750	8.475	10.350	8.600	10.475
	November 11	0.000	8.500	8.475	10.350	8.600	10.475
	November 18	0.000	8.000	8.475	10.350	8.600	10.475
	November 25	0.000	7.750	8.475	10.350	8.600	10.475
	December 2	0.000	7.625	0.000	0.000	8.600	0.000
	December 9	0.000	7.500	0.000	0.000	8.600	0.000
	December 16	0.000	7.350	0.000	0.000	8.600	0.000
	December 30	0.000	7.250	0.000	0.000	8.600	0.000
1994
	January 6	0.000	7.500	0.000	0.000	0.000	0.000
	January 13	0.000	8.000	0.000	0.000	0.000	0.000
	January 20	0.000	9.000	0.000	0.000	0.000	0.000
	January 27	0.000	9.250	0.000	0.000	0.000	0.000
	June 20	0.000	8.250	0.000	0.000	0.000	0.000
	June 27	0.000	8.000	0.000	0.000	0.000	0.000
	July 4	0.000	7.500	0.000	0.000	0.000	0.000
	Jury 11	0.000	7.000	0.000	0.000	0.000	0.000
	July 18	0.000	6.750	0.000	0.000	0.000	0.000
	July 25	0.000	6.500	0.000	0.000	0.000	0.000
	August 1	0.000	6.250	0.000	0.000	0.000	0.000
	August 8	0.000	6.000	0.000	0.000	0.000	0.000
	August 15	0.000	5.850	0.000	0.000	0.000	0.000
	August 22	0.000	5.750	0.000	0.000	0.000	0.000
	September 19	0.000	5.600	0.000	0.000	0.000	0.000
	September 26	0.000	5.500	0.000	0.000	0.000	0.000
	December 5	0.000	5.000	0.000	0.000	0.000	0.000
	December 26	0.000	5.500	0.000	0.000	0.000	0.000
1995
	December 11	0.000	5.750	0.000	0.000	0.000	0.000
	December 18	0.000	6.000	0.000	0.000	0.000	0.000
1996
	January 2	0.000	5.500	0.000	0.000	0.000	0.000
	April 30	0.000	5.250	0.000	0.000	0.000	0.000
	June 3	0.000	5.000	0.000	0.000	0.000	0.000
	June 17	0.000	5.500	0.000	0.000	0.000	0.000

Auctions	Value date	Marginal	Minimum proposed	Maximum proposed	Weighted average
	1996
Injection of liquidity	7/15/96	5.500	…	…	5.961
Injection of liquidity	7/22/96	5.250	…	…	5.250
Injection of liquidity	7/29/96	5.250	…	…	5.250
Issue of BCEAO bonds	8/5/96	5.000	1.000	6.000	4.145
Issue of BCEAO bonds	8/12/96	4.750	4.000	5.250	4.513
Issue of BCEAO bonds	8/19/96	4.000	3.500	5.250	3.725
Issue of BCEAO bonds	8/26/96	4.000	2.500	5.500	3.577
Issue of BCEAO bonds	9/2/96	4.000	2.500	5.000	3.609
Issue of BCEAO bonds	9/9/96	4.000	2.500	5.424	3.698
Issue of BCEAO bonds	9/16/96	4.000	2.500	5.424	3.740
Issue of BCEAO bonds	9/23/96	4.000	2.800	5.424	3.741
Issue of BCEAO bonds	9/30/96	4.000	3.000	5.424	3.740
Issue of BCEAO bonds	10/7/96	4.000	3.000	5.424	3.759
Issue of BCEAO bonds	10/14/96	4.250	3.000	5.424	3.771
Issue of BCEAO bonds	10/21/96	4.250	3.000	5.000	3.645
Issue of BCEAO bonds	10/28/96	4.000	3.000	5.000	3.795
Injection of liquidity	11/25/96	5.000	…	…	5.474
Injection of liquidity	12/2/96	5.250	…	…	5.444
Injection of liquidity	12/9/96	5.000	…	…	5.441
Injection of liquidity	12/16/96	5.000	…	…	5.407
Injection of liquidity	12/23/96	5.000	…	…	5.411
Injection of liquidity	12/30/96	5.000	…	…	5.389
	1997
Injection of liquidity	1/13/97	5.000	5.000	6.000	5.164
Injection of liquidity	1/20/97	5.000	5.000	5.750	5.369
Injection of liquidity	1/27/97	5.250	4.900	5.500	5.430
Injection of liquidity	2/3/97	5.200	5.200	5.750	5.386
Injection of liquidity	2/10/97	5.200	5.200	5.500	5.416
Injection of liquidity	2/17/97	5.000	5.000	5.000	5.000
Injection of liquidity	2/24/97	5.000	5.000	5.000	5.000
Injection of liquidity	3/3/97	5.000	5.000	5.400	5.049
Injection of liquidity	3/10/97	5.000	5.000	5.350	5.031
Injection of liquidity	3/17/97	5.000	5.000	5.300	5.015
Injection of liquidity	3/24/97	5.000	5.000	5.250	5.014
Injection of liquidity	4/1/97	5.000	5.000	5.250	5.011
Injection of liquidity	4/7/97	5.000	5.000	5.250	5.031
Injection of liquidity	4/14/97	5.000	4.500	5.250	5.023
Injection of liquidity	4/21/97	5.000	4.500	5.250	5.043
Injection of liquidity	4/28/97	5.000	4.500	5.250	5.039
Injection of liquidity	5/5/97	5.000	5.000	5.250	5.076
Injection of liquidity	5/12/97	5.000	4.250	5.250	5.124
Injection of liquidity	5/19/97	5.000	5.000	5.500	5.173
Injection of liquidity	5/26/97	5.020	5.020	5.500	5.188
Issue of BCEAO bonds	6/16/97	4.740	2.800	6.000	3.857
Issue of BCEAO bonds	6/23/97	4.700	3.250	5.250	4.159
Issue of BCEAO bonds	6/30/97	4.650	3.230	4.650	4.436
Issue of BCEAO bonds	7/7/97	4.600	3.500	5.125	4.404
Issue of BCEAO bonds	7/14/97	4.600	3.250	4.900	4.209
Issue of BCEAO bonds	7/21/97	4.750	3.500	5.150	4.327
Issue of BCEAO bonds	7/28/97	5.000	4.500	5.000	4.641
Issue of BCEAO bonds	8/4/97	4.000	4.000	4.000	4.000
Issue of BCEAO bonds	8/11/97	4.000	4.000	4.000	4.000
Issue of BCEAO bonds	8/18/97	4.000	4.000	4.000	4.000
Issue of BCEAO bonds	8/25/97	4.000	4.000	4.000	4.000
Issue of BCEAO bonds	9/1/97	4.000	4.000	4.000	4.000

Source: Information provided by the BCEAO.

Table 30.

Mali: Lending Rates Applied by Commercial Banks, 1986-96

(In percent per year)

Source: Information provided by the BCEAO.

^{^1/}Originally not exceeding CFAF 20 million; since May 1, 1979, not exceeding CFAF 30 million.

^{^2/}Of any member state of WAMU.

^{^3/}Originally, with maturity of more than 2 years and less than 10 years, and less than 15 years since October 2, 1989.

^{^4/}Minimum abolished on October 2, 1989.

^{^5/}Cannot exceed the legal usury rate, set at twice the prevailing discount rate.

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. 2	From Nov. 27,	From Aug. 20,	From Nov. 9,	From Oct 1
			1986		1986		1988		1989		1989 ^4/	1989	1992	1992	1993
			Min.	Max.	Min.	Max.	Min.	Max.	Min.	Max.	Max.	Max.	Max.	Max.
Rates
	Short- and medium-term credit
		Crop financing and export credit	8.0	9.0	7.0	8.0	8.5	9.5	10.0	11.0	15.5	16.0	18.0	17.5	free ^5/
		Financing of storage of agricultural products	8.0	9.0	7.0	8.0	8.5	9.5	10.0	11.0	15.5	16.0	18.0	17.5	free ^5/
		Credit to small and medium-sized national enterprises ^1/	8.0	10.0	7.0	9.0	8.5	10.5	10.0	12.0	15.5	16.0	18.0	17.5	free ^5/
		Credit to nationals ^2/ for construction of first primary residence	8.0	10.0	7.0	9.0	8.5	10.5	10.0	12.0	15.5	16.0	18.0	17.5	free ^5/
		Other credits	9.5	14.5	8.5	13.5	9.5	14.5	10.0	15.0	15.5	16.0	18.0	17.5	free ^5/
	Long-term credit ^3/
		Credit to small and medium-sized national enterprises ^1/	8.0	10.0	7.0	9.0	8.5	10.5	10.0	12.0	15.5	16.0	18.0	17.5	free ^5/
		Credit to nationals ^2/ for construction of first primary residence	8.0	10.0	7.0	9.0	8.5	10.5	10.0	12.0	15.5	16.0	18.0	17.5	free ^5/
		Other credits	9.5	14.5	8.5	13.5	9.5	14.5	10.0	15.0	15.5	16.0	18.0	17.5	free ^5/

Source: Information provided by the BCEAO.

^{^1/}Originally not exceeding CFAF 20 million; since May 1, 1979, not exceeding CFAF 30 million.

^{^2/}Of any member state of WAMU.

^{^3/}Originally, with maturity of more than 2 years and less than 10 years, and less than 15 years since October 2, 1989.

^{^4/}Minimum abolished on October 2, 1989.

^{^5/}Cannot exceed the legal usury rate, set at twice the prevailing discount rate.

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. 2	From Nov. 27,	From Aug. 20,	From Nov. 9,	From Oct 1
			1986		1986		1988		1989		1989 ^4/	1989	1992	1992	1993
			Min.	Max.	Min.	Max.	Min.	Max.	Min.	Max.	Max.	Max.	Max.	Max.
Rates
	Short- and medium-term credit
		Crop financing and export credit	8.0	9.0	7.0	8.0	8.5	9.5	10.0	11.0	15.5	16.0	18.0	17.5	free ^5/
		Financing of storage of agricultural products	8.0	9.0	7.0	8.0	8.5	9.5	10.0	11.0	15.5	16.0	18.0	17.5	free ^5/
		Credit to small and medium-sized national enterprises ^1/	8.0	10.0	7.0	9.0	8.5	10.5	10.0	12.0	15.5	16.0	18.0	17.5	free ^5/
		Credit to nationals ^2/ for construction of first primary residence	8.0	10.0	7.0	9.0	8.5	10.5	10.0	12.0	15.5	16.0	18.0	17.5	free ^5/
		Other credits	9.5	14.5	8.5	13.5	9.5	14.5	10.0	15.0	15.5	16.0	18.0	17.5	free ^5/
	Long-term credit ^3/
		Credit to small and medium-sized national enterprises ^1/	8.0	10.0	7.0	9.0	8.5	10.5	10.0	12.0	15.5	16.0	18.0	17.5	free ^5/
		Credit to nationals ^2/ for construction of first primary residence	8.0	10.0	7.0	9.0	8.5	10.5	10.0	12.0	15.5	16.0	18.0	17.5	free ^5/
		Other credits	9.5	14.5	8.5	13.5	9.5	14.5	10.0	15.0	15.5	16.0	18.0	17.5	free ^5/

Source: Information provided by the BCEAO.

^{^1/}Originally not exceeding CFAF 20 million; since May 1, 1979, not exceeding CFAF 30 million.

^{^2/}Of any member state of WAMU.

^{^3/}Originally, with maturity of more than 2 years and less than 10 years, and less than 15 years since October 2, 1989.

^{^4/}Minimum abolished on October 2, 1989.

^{^5/}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/

Source: Information provided by the BCEAO.

^{^1/}Fixed rates, unless marked with an asterisk (*), in which case it is a minimum rate.

^{^2/}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.

^{^3/}Applicable to savings deposits of less than CFAF 5 million.

^{^4/}The requirement that banks pay interest on demand deposits was suspended beginning January 1, 1985.

^{^5/}Deposit rates no longer fixed by the BCEAO.

^{^6/}Average montly money market rate published by BCEAO minus 2 percent

Table 31.

Mali: Deposit Rates Applied by Commercial Banks, 1988-96 ^1/

			December 1988 - October 1989						November 1989 - October 1993				January 1994 - Present
			From						From				From
			Dec. 23, 1988	Mar. 30, 1989	Sept 22, 1986	Dec. 23, 1988	Mar. 30, 1989	Oct. 2, 1989	Nov. 27, 1989	Aug. 20, 1992	Nov. 9, 1992	oct. 1, 1993	Jan. 18, 1994	July 8, 1994	Sep. 26, 1994	April 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 agreement			Determined by agreement				Determined by agreement
Other deposits
	Demand deposits		–	–	–^4/	–^4/	–^4/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/
	Time deposits
		Less than six months	5.00	5.00	4.75	5.50	6.00	–^5/	–^5/	–^5/	–^5/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/
		Six months - less than one yea	6.00	6.50	5.75	6.50	7.00	–^5/	–^5/	–^5/	–^5/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/
		One year and more	7.25*	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 yea	6.00	6.50	5.75	6.50	7.00	–^5/	–^5/	–^5/	–^5/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/
		One year and more	7.25*	7.75*	7.00*	8.00*	8.50*	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/
Savings deposits ^3/			7.00	7.50	6.50	7.00	7.50	6.50	7.00	9.00	8.50	4.50	8.00	5.00	4.50	3.50
			(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 agreement			Determined by agreement				Determined by agreement			Free
Other deposits
	Demand deposits		–^4/	–^4/	–^4/	–^4/	–^4/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/
	Time deposits
		Less man six months	6.00	6.50	5.75*	6.50*	7.00	6.50*	7.00*	9.00*	8.50*	–^5/	–^5/	–^5/	–^5/	–^5/
		Six months - less than one yea	7.25	7.75	7.00*	7.75*	8.25	7.50*	8.00*	10.00*	9.50*	–^5/	–^5/	–^5/	–^5/	–^5/
		One year and more	8.50*	9.00*	8.00*	9.00*	9.50*	8.50*	9.00*	11.00*	10.50*	–^5/	–^5/	–^5/	–^5/	–^5/
	Certificates of deposit											–^5/	–^5/	–^5/	–^5/	–^5/
		Six months - less than one yea	7.25	7.75	7.00*	7.75	8.25*	7.50*	8.00*	10.00*	9.50*	–^5/	–^5/	–^5/	–^5/	–^5/
		One year and more	8.50*	9.00*	8.00*	9.00*	9.50*	8.50*	9.00*	11.00*	10.50*	–^5/	–^5/	–^5/	–^5/	–^5/
	Savings deposits ^3/		7.00	7.50	6.50	7.00	7.50	6.50	7.00	9.00	8.50	4.50	8.00	5.00	4.50	3.50

Source: Information provided by the BCEAO.

^{^1/}Fixed rates, unless marked with an asterisk (*), in which case it is a minimum rate.

^{^3/}Applicable to savings deposits of less than CFAF 5 million.

^{^4/}The requirement that banks pay interest on demand deposits was suspended beginning January 1, 1985.

^{^5/}Deposit rates no longer fixed by the BCEAO.

^{^6/}Average montly money market rate published by BCEAO minus 2 percent

Table 31.

Mali: Deposit Rates Applied by Commercial Banks, 1988-96 ^1/

			December 1988 - October 1989						November 1989 - October 1993				January 1994 - Present
			From						From				From
			Dec. 23, 1988	Mar. 30, 1989	Sept 22, 1986	Dec. 23, 1988	Mar. 30, 1989	Oct. 2, 1989	Nov. 27, 1989	Aug. 20, 1992	Nov. 9, 1992	oct. 1, 1993	Jan. 18, 1994	July 8, 1994	Sep. 26, 1994	April 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 agreement			Determined by agreement				Determined by agreement
Other deposits
	Demand deposits		–	–	–^4/	–^4/	–^4/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/
	Time deposits
		Less than six months	5.00	5.00	4.75	5.50	6.00	–^5/	–^5/	–^5/	–^5/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/
		Six months - less than one yea	6.00	6.50	5.75	6.50	7.00	–^5/	–^5/	–^5/	–^5/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/
		One year and more	7.25*	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 yea	6.00	6.50	5.75	6.50	7.00	–^5/	–^5/	–^5/	–^5/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/	TMM-2 ^6/
		One year and more	7.25*	7.75*	7.00*	8.00*	8.50*	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/
Savings deposits ^3/			7.00	7.50	6.50	7.00	7.50	6.50	7.00	9.00	8.50	4.50	8.00	5.00	4.50	3.50
			(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 agreement			Determined by agreement				Determined by agreement			Free
Other deposits
	Demand deposits		–^4/	–^4/	–^4/	–^4/	–^4/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/	–^5/
	Time deposits
		Less man six months	6.00	6.50	5.75*	6.50*	7.00	6.50*	7.00*	9.00*	8.50*	–^5/	–^5/	–^5/	–^5/	–^5/
		Six months - less than one yea	7.25	7.75	7.00*	7.75*	8.25	7.50*	8.00*	10.00*	9.50*	–^5/	–^5/	–^5/	–^5/	–^5/
		One year and more	8.50*	9.00*	8.00*	9.00*	9.50*	8.50*	9.00*	11.00*	10.50*	–^5/	–^5/	–^5/	–^5/	–^5/
	Certificates of deposit											–^5/	–^5/	–^5/	–^5/	–^5/
		Six months - less than one yea	7.25	7.75	7.00*	7.75	8.25*	7.50*	8.00*	10.00*	9.50*	–^5/	–^5/	–^5/	–^5/	–^5/
		One year and more	8.50*	9.00*	8.00*	9.00*	9.50*	8.50*	9.00*	11.00*	10.50*	–^5/	–^5/	–^5/	–^5/	–^5/
	Savings deposits ^3/		7.00	7.50	6.50	7.00	7.50	6.50	7.00	9.00	8.50	4.50	8.00	5.00	4.50	3.50

Source: Information provided by the BCEAO.

^{^1/}Fixed rates, unless marked with an asterisk (*), in which case it is a minimum rate.

^{^3/}Applicable to savings deposits of less than CFAF 5 million.

^{^4/}The requirement that banks pay interest on demand deposits was suspended beginning January 1, 1985.

^{^5/}Deposit rates no longer fixed by the BCEAO.

^{^6/}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)

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

^{^1/}Data may not add up because of rounding.

^{^2/}Including debt service due to the People’s Republic of China and Russia.

^{^3/}After debt cancellation obtained through 1996, inlcuding the 1994 cancellation of debt by France, Italy, and Switzerland, equivalent to CFAF 114.7 billion.

^{^4/}Reflects agreements on debt rescheduling and moratoria, as well as debt under negotiation.

^{^5/}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 32.

Mali: Balance of Payments, 1991-96 ^1/ ^2/

(In billions of CFA francs)

						1991	1992	1993	1994	1995	1996
											Prel.
Exports, f.o.b.						104.6	95.8	98.9	186.8	225.7	228.3
	Of which: cotton (fiber)					48.9	37.8	39.4	81.5	126.9	132.5
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)						19.7	19.6	26.5	47.1	47.8	46.0
Official transfers (net)						89.6	94.9	67.3	134.4	111.4	124.1
	Of which: in kind					6.8	5.8	3.9	13.1	5.5	6.1
				budgetary		22.9	22.6	12.0	42.8	29.4	26.7
				project-related		38.8	38.0	30.0	55.0	63.0	69.8
	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)						16.2	1.1	-7.0	45.7	61.1	72.1
	Private (net)					-2.2	-2.3	-1.9	20.9	15.0	30.9
	Official (net)					18.4	3.4	-5.1	24.8	46.1	41.2
		Disbursements (net)				49.3	38.7	30.3	91.7	110.1	102.1
			Of which: budgetary			18.1	9.7	1.8	31.7	39.6	34.6
					project-related	31.2	29.0	28.5	60.0	70.5	67.5
		Amortization due				-30.9	-35.3	-35.4	-66.9	-64.0	-60.9
Debt relief ^4/						23.8	29.4	30.6	51.8	44.8	41.0
Errors and omissions						10.6	-4.7	8.2	9.7	4.7	28.0
Overall balance						39.0	-2.1	1.5	68.0	33.8	65.3
Financing						-39.0	2.1	-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)				-2.7	2.1	1.3	17.7	18.4	11.6
	Revaluation adjustment					-1.3	0.4	0.3	0.0	3.3	0.0
	Payments arrears					1.1	3.7	5.0	-19.8	0.0	0.0
		Accumulation				0.0	4.8	9.0	0.0	0.0	0.0
		Reduction				0.0	-1.1	-4.0	-19.8	0.0	0.0
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/						1.1	4.8	9.8	0.0	0.0	0.0

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

^{^1/}Data may not add up because of rounding.

^{^2/}Including debt service due to the People’s Republic of China and Russia.

^{^3/}After debt cancellation obtained through 1996, inlcuding the 1994 cancellation of debt by France, Italy, and Switzerland, equivalent to CFAF 114.7 billion.

^{^4/}Reflects agreements on debt rescheduling and moratoria, as well as debt under negotiation.

^{^5/}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 32.

Mali: Balance of Payments, 1991-96 ^1/ ^2/

(In billions of CFA francs)

						1991	1992	1993	1994	1995	1996
											Prel.
Exports, f.o.b.						104.6	95.8	98.9	186.8	225.7	228.3
	Of which: cotton (fiber)					48.9	37.8	39.4	81.5	126.9	132.5
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)						19.7	19.6	26.5	47.1	47.8	46.0
Official transfers (net)						89.6	94.9	67.3	134.4	111.4	124.1
	Of which: in kind					6.8	5.8	3.9	13.1	5.5	6.1
				budgetary		22.9	22.6	12.0	42.8	29.4	26.7
				project-related		38.8	38.0	30.0	55.0	63.0	69.8
	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)						16.2	1.1	-7.0	45.7	61.1	72.1
	Private (net)					-2.2	-2.3	-1.9	20.9	15.0	30.9
	Official (net)					18.4	3.4	-5.1	24.8	46.1	41.2
		Disbursements (net)				49.3	38.7	30.3	91.7	110.1	102.1
			Of which: budgetary			18.1	9.7	1.8	31.7	39.6	34.6
					project-related	31.2	29.0	28.5	60.0	70.5	67.5
		Amortization due				-30.9	-35.3	-35.4	-66.9	-64.0	-60.9
Debt relief ^4/						23.8	29.4	30.6	51.8	44.8	41.0
Errors and omissions						10.6	-4.7	8.2	9.7	4.7	28.0
Overall balance						39.0	-2.1	1.5	68.0	33.8	65.3
Financing						-39.0	2.1	-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)				-2.7	2.1	1.3	17.7	18.4	11.6
	Revaluation adjustment					-1.3	0.4	0.3	0.0	3.3	0.0
	Payments arrears					1.1	3.7	5.0	-19.8	0.0	0.0
		Accumulation				0.0	4.8	9.0	0.0	0.0	0.0
		Reduction				0.0	-1.1	-4.0	-19.8	0.0	0.0
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/						1.1	4.8	9.8	0.0	0.0	0.0

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

^{^1/}Data may not add up because of rounding.

^{^2/}Including debt service due to the People’s Republic of China and Russia.

^{^3/}After debt cancellation obtained through 1996, inlcuding the 1994 cancellation of debt by France, Italy, and Switzerland, equivalent to CFAF 114.7 billion.

^{^4/}Reflects agreements on debt rescheduling and moratoria, as well as debt under negotiation.

^{^5/}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)

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

^{^1/}Data may not add up because of rounding.

^{^2/}Including debt service due to the People’s Republic of China and Russia.

^{^3/}After debt cancellation obtained through 1996, including the 1994 cancellation of debt by France, Italy, and Switzerland, equivalent to CFAF 114.7 billion,

^{^4/}Reflects agreements on debt rescheduling and moratoria, as well as debt under negotiation.

^{^5/}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)

						1991	1992	1993	1994	1995	1996
											Prel.
Exports, f.o.b.						271.1	257.1	250.2	235.0	298.2	307.3
	Of which: cotton (fiber)					126.8	101.3	99.6	102.5	167.6	178.4
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)						51.0	52.5	66.9	59.2	63.1	61.9
Official transfers (net)						232.2	254.7	170.2	169.0	147.1	167.1
	Of which: in kind					17.6	15.6	9.9	16.5	7.3	8.2
				budgetary		59.3	60.6	30.4	53.8	38.8	35.9
				project-related		100.5	102.0	75.9	69.2	83.2	94.0
	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)						41.9	3.0	-17.7	57.5	80.7	97.1
	Private (net)					-5.7	-6.2	-4.8	26.3	19.8	41.6
	Official (net)					47.7	9.1	-12.9	31.2	60.9	55.5
		Disbursements (net)				127.8	103.8	76.7	115.3	145.4	137.4
			Of which: budgetary			46.9	26.0	4.6	39.9	52.3	46.6
					project-related	80.8	77.8	72.1	75.5	93.1	90.9
		Amortization due				-80.1	-94.7	-89.6	-84.1	-84.5	-82.0
Debt relief ^4/						61.7	78.9	77.5	65.2	59.2	55.2
Errors and omissions						27.5	-12.6	20.7	12.2	6.2	37.7
Overall balance						101.1	-5.6	3.8	85.5	44.6	87.8
Financing						-101.1	5.6	-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)				-6.9	5.6	3.3	22.3	24.3	15.7
	Revaluation adjustment					-3.4	1.1	0.8	0.0	4.4	0.0
	Payments arrears					2.9	9.9	12.6	-24.9	0.0	0.0
		Accumulation				0.0	12.9	22.8	0.0	0.0	0.0
		Reduction				0.0	-3.0	-10.1	-24.9	0.0	0.0
Memorandum items:
Outstanding payments arrears (end-of-period) ^5/						2.9	12.9	24.8	0.0	0.0	0.0
Exchange rate: CFAF/SDR (period average)						385.9	372.7	395.3	795.0	757.1	742.8

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

^{^1/}Data may not add up because of rounding.

^{^2/}Including debt service due to the People’s Republic of China and Russia.

^{^3/}After debt cancellation obtained through 1996, including the 1994 cancellation of debt by France, Italy, and Switzerland, equivalent to CFAF 114.7 billion,

^{^4/}Reflects agreements on debt rescheduling and moratoria, as well as debt under negotiation.

^{^5/}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)

						1991	1992	1993	1994	1995	1996
											Prel.
Exports, f.o.b.						271.1	257.1	250.2	235.0	298.2	307.3
	Of which: cotton (fiber)					126.8	101.3	99.6	102.5	167.6	178.4
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)						51.0	52.5	66.9	59.2	63.1	61.9
Official transfers (net)						232.2	254.7	170.2	169.0	147.1	167.1
	Of which: in kind					17.6	15.6	9.9	16.5	7.3	8.2
				budgetary		59.3	60.6	30.4	53.8	38.8	35.9
				project-related		100.5	102.0	75.9	69.2	83.2	94.0
	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)						41.9	3.0	-17.7	57.5	80.7	97.1
	Private (net)					-5.7	-6.2	-4.8	26.3	19.8	41.6
	Official (net)					47.7	9.1	-12.9	31.2	60.9	55.5
		Disbursements (net)				127.8	103.8	76.7	115.3	145.4	137.4
			Of which: budgetary			46.9	26.0	4.6	39.9	52.3	46.6
					project-related	80.8	77.8	72.1	75.5	93.1	90.9
		Amortization due				-80.1	-94.7	-89.6	-84.1	-84.5	-82.0
Debt relief ^4/						61.7	78.9	77.5	65.2	59.2	55.2
Errors and omissions						27.5	-12.6	20.7	12.2	6.2	37.7
Overall balance						101.1	-5.6	3.8	85.5	44.6	87.8
Financing						-101.1	5.6	-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)				-6.9	5.6	3.3	22.3	24.3	15.7
	Revaluation adjustment					-3.4	1.1	0.8	0.0	4.4	0.0
	Payments arrears					2.9	9.9	12.6	-24.9	0.0	0.0
		Accumulation				0.0	12.9	22.8	0.0	0.0	0.0
		Reduction				0.0	-3.0	-10.1	-24.9	0.0	0.0
Memorandum items:
Outstanding payments arrears (end-of-period) ^5/						2.9	12.9	24.8	0.0	0.0	0.0
Exchange rate: CFAF/SDR (period average)						385.9	372.7	395.3	795.0	757.1	742.8

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

^{^1/}Data may not add up because of rounding.

^{^2/}Including debt service due to the People’s Republic of China and Russia.

^{^3/}After debt cancellation obtained through 1996, including the 1994 cancellation of debt by France, Italy, and Switzerland, equivalent to CFAF 114.7 billion,

^{^4/}Reflects agreements on debt rescheduling and moratoria, as well as debt under negotiation.

^{^5/}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)

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

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)

				1991	1992	1993	1994	1995	1996
									Prel.
Cotton
	Value			51.3	40.1	41.7	85.0	129.2	134.9
	Cotton fiber
			Value	48.9	37.8	39.4	81.5	126.9	132.5
			Volume	115,468.7	110,844.5	133,278.5	109,272.7	148,122.8	160,960.4
			Unit value	423.8	340.7	295.3	729.5	856.8	823.3
	Cotton cakes
		Value		0.4	0.4	0.4	0.5	0.5	0.5
		Volume		10,000.0	10,000.0	10,500.0	10,500.0	11,025.0	11,168.3
		Unit value		40.0	40.0	40.0	48.0	43.1	44.2
	Cotton threads and materials
		Value		1.4	1.4	1.4	2.2	1.1	1.2
		Volume		2,650.0	2,650.0	2,650.0	2,700.0	1,372.0	1,402.2
		Unit value		530.0	530.0	540.0	825.0	802.2	822.2
	Cottonseed oil
		Value		0.5	0.5	0.5	0.8	0.7	0.7
		Volume		3,100.0	3,100.0	3,100.0	3,100.0	3,131.0	3,149.8
		Unit value		170.0	170.0	170.0	255.0	229.2	235.0
	Livestock
		Value		27.3	25.0	27.0	51.8	40.0	30.0
		Volume		29,600.0	31,446.0	29,600.0	43,700.0	37,582.0	28,599.0
		Unit value		923.4	794.8	911.0	1,184.3	1,064.6	1,049.0
	Hides and leathers
		Value		1.9	1.8	2.1	2.9	1.6	2.0
		Volume		2,400.0	2,550.0	2,627.0	2,725.0	1,672.0	2,087.3
		Unit value		801.9	723.9	810.0	1,053.0	957.5	970.3
	Fish
		Value		1.0	1.1	1.1	1.7	0.8	0.9
		Volume		1,450.0	1,508.0	1,568.3	1,750.0	802.0	826.1
		Unit value		700.0	700.0	700.0	950.0	997.5	1,030.0
	Shelled groundnuts
		Value		0.1	0.4	0.3	0.4	0.2	0.2
		Volume		680.0	5,333.3	3,666.7	3,941.7	1,754.0	1,789.1
		Unit value		75.0	75.0	75.0	113.0	113.0	115.8
	Other oilseeds
		Value		2.0	2.0	2.0	3.0	3.3	3.5
		Volume		20,000.0	20,000.0	20,000.0	21,500.0	23,865.0	24,428.2
		Unit value		100.0	100.0	100.0	140.0	140.0	143.5
	Gold
		Value		12.4	15.8	15.2	27.8	35.6	39.8
		Volume		4,762.0	6,099.0	5,184.0	4,599.0	6,157.0	6,584.0
		Unit value		2,608.5	2,592.2	2,932.3	6,036.3	5,776.6	6,037.8
	Other
		Value		8.6	9.6	9.5	14.3	15.0	17.1
	Total			104.6	95.8	98.9	186.8	225.7	228.3

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

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)

				1991	1992	1993	1994	1995	1996
									Prel.
Cotton
	Value			51.3	40.1	41.7	85.0	129.2	134.9
	Cotton fiber
			Value	48.9	37.8	39.4	81.5	126.9	132.5
			Volume	115,468.7	110,844.5	133,278.5	109,272.7	148,122.8	160,960.4
			Unit value	423.8	340.7	295.3	729.5	856.8	823.3
	Cotton cakes
		Value		0.4	0.4	0.4	0.5	0.5	0.5
		Volume		10,000.0	10,000.0	10,500.0	10,500.0	11,025.0	11,168.3
		Unit value		40.0	40.0	40.0	48.0	43.1	44.2
	Cotton threads and materials
		Value		1.4	1.4	1.4	2.2	1.1	1.2
		Volume		2,650.0	2,650.0	2,650.0	2,700.0	1,372.0	1,402.2
		Unit value		530.0	530.0	540.0	825.0	802.2	822.2
	Cottonseed oil
		Value		0.5	0.5	0.5	0.8	0.7	0.7
		Volume		3,100.0	3,100.0	3,100.0	3,100.0	3,131.0	3,149.8
		Unit value		170.0	170.0	170.0	255.0	229.2	235.0
	Livestock
		Value		27.3	25.0	27.0	51.8	40.0	30.0
		Volume		29,600.0	31,446.0	29,600.0	43,700.0	37,582.0	28,599.0
		Unit value		923.4	794.8	911.0	1,184.3	1,064.6	1,049.0
	Hides and leathers
		Value		1.9	1.8	2.1	2.9	1.6	2.0
		Volume		2,400.0	2,550.0	2,627.0	2,725.0	1,672.0	2,087.3
		Unit value		801.9	723.9	810.0	1,053.0	957.5	970.3
	Fish
		Value		1.0	1.1	1.1	1.7	0.8	0.9
		Volume		1,450.0	1,508.0	1,568.3	1,750.0	802.0	826.1
		Unit value		700.0	700.0	700.0	950.0	997.5	1,030.0
	Shelled groundnuts
		Value		0.1	0.4	0.3	0.4	0.2	0.2
		Volume		680.0	5,333.3	3,666.7	3,941.7	1,754.0	1,789.1
		Unit value		75.0	75.0	75.0	113.0	113.0	115.8
	Other oilseeds
		Value		2.0	2.0	2.0	3.0	3.3	3.5
		Volume		20,000.0	20,000.0	20,000.0	21,500.0	23,865.0	24,428.2
		Unit value		100.0	100.0	100.0	140.0	140.0	143.5
	Gold
		Value		12.4	15.8	15.2	27.8	35.6	39.8
		Volume		4,762.0	6,099.0	5,184.0	4,599.0	6,157.0	6,584.0
		Unit value		2,608.5	2,592.2	2,932.3	6,036.3	5,776.6	6,037.8
	Other
		Value		8.6	9.6	9.5	14.3	15.0	17.1
	Total			104.6	95.8	98.9	186.8	225.7	228.3

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)

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)

			1991	1992	1993	1994	1995	1996
								Prel.
Foodstuffs
	Value		33.0	25.7	27.4	47.8	51.7	50.5
	Cereals
		Value	9.5	6.0	7.2	7.2	10.5	12.7
		Volume	76,242.0	45,705.6	57,777.0	35,100.0	48,000.0	48,000.0
		Unit value	124.2	131.8	124.6	205.0	218.7	263.8
	Sugar
		Value	10.2	5.2	4.2	15.2	16.0	13.8
		Volume	83,100.0	46,024.8	33,537.0	51,000.0	54,298.0	50,577.0
		Unit value	122.4	113.0	125.7	298.2	295.0	272.8
	Milk
		Value	5.3	6.2	7.0	10.1	9.8	6.7
		Volume	9,144.3	10,840.0	12,234.8	8,938.1	8,660.0	5,753.0
		Unit value	575.0	575.0	575.0	1,130.0	1,130.0	1,167.1
	Tea and coffee
		Value	1.7	1.5	1.9	3.1	3.2	3.1
		Volume	1,700.0	1,751.0	2,014.0	1,611.0	1,933.2	1,991.2
		Unit value	1,017.0	877.9	950.2	1,930.0	1,644.9	1,563.1
	Other beverages
		Value	0.3	0.4	0.4	0.8	0.7	0.7
		Volume	2,500.0	2,575.0	2,652.3	2,546.2	2,622.5	2,701.0
		Unit value	130.0	136.5	143.3	296.0	266.1	274.8
	Cola nuts
		Value	1.2	1.3	1.3	1.6	1.5	1.7
		Volume	7,500.0	7,725.0	7,956.8	7,906.0	8,222.2	8,468.9
		Unit value	160.0	165.0	166.0	205.0	184.3	196.1
	Other
		Value	4.8	5.0	5.3	9.8	10.0	11.8
		Volume	31,000.0	31,930.0	32,887.9	29,599.1	30,783.1	31,706.6
		Unit value	155.0	158.1	161.2	331.9	323.9	372.8
Machines and vehicles
		Value	53.0	53.1	51.7	107.0	127.7	136.9
		Volume	30,300.0	31,209.0	29,640.0	30,300.0	36,360.0	38,178.0
		Unit value	1,750.0	1,702.0	1,743.3	3,531.0	3,513.0	3,585.8
Petroleum products
		Value	22.4	22.2	21.0	29.1	37.3	52.2
		Volume	227,086.3	232,816.8	200,095.5	226,004.0	289,905.0	332,843.0
		Unit value	98.5	95.5	104.7	128.9	128.6	156.8
Construction materials
		Value	20.2	21.0	18.6	33.7	39.6	40.5
		Volume	40,480.0	44,528.0	40,100.0	34,474.0	40,000.0	41,800.0
		Unit value	499.0	470.9	464.6	976.4	989.7	970.0
Chemical products
		Value	21.4	20.3	20.0	33.9	35.4	37.0
		Volume	85,375.0	85,302.0	85,300.0	74,077.0	77,780.9	81,281.0
		Unit value	250.9	237.4	234.1	457.2	454.6	454.6
Textiles and leather
		Value	12.7	13.5	14.3	22.5	20.8	22.4
		Volume	25,750.0	26,522.5	27,318.2	21,854.5	22,510.2	23,410.6
		Unit value	495.0	509.9	525.1	1,029.7	925.7	956.0
Other
		Value	30.0	34.6	39.0	75.4	85.0	68.3
Total			192.7	190.4	191.9	349.3	397.5	407.8

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)

			1991	1992	1993	1994	1995	1996
								Prel.
Foodstuffs
	Value		33.0	25.7	27.4	47.8	51.7	50.5
	Cereals
		Value	9.5	6.0	7.2	7.2	10.5	12.7
		Volume	76,242.0	45,705.6	57,777.0	35,100.0	48,000.0	48,000.0
		Unit value	124.2	131.8	124.6	205.0	218.7	263.8
	Sugar
		Value	10.2	5.2	4.2	15.2	16.0	13.8
		Volume	83,100.0	46,024.8	33,537.0	51,000.0	54,298.0	50,577.0
		Unit value	122.4	113.0	125.7	298.2	295.0	272.8
	Milk
		Value	5.3	6.2	7.0	10.1	9.8	6.7
		Volume	9,144.3	10,840.0	12,234.8	8,938.1	8,660.0	5,753.0
		Unit value	575.0	575.0	575.0	1,130.0	1,130.0	1,167.1
	Tea and coffee
		Value	1.7	1.5	1.9	3.1	3.2	3.1
		Volume	1,700.0	1,751.0	2,014.0	1,611.0	1,933.2	1,991.2
		Unit value	1,017.0	877.9	950.2	1,930.0	1,644.9	1,563.1
	Other beverages
		Value	0.3	0.4	0.4	0.8	0.7	0.7
		Volume	2,500.0	2,575.0	2,652.3	2,546.2	2,622.5	2,701.0
		Unit value	130.0	136.5	143.3	296.0	266.1	274.8
	Cola nuts
		Value	1.2	1.3	1.3	1.6	1.5	1.7
		Volume	7,500.0	7,725.0	7,956.8	7,906.0	8,222.2	8,468.9
		Unit value	160.0	165.0	166.0	205.0	184.3	196.1
	Other
		Value	4.8	5.0	5.3	9.8	10.0	11.8
		Volume	31,000.0	31,930.0	32,887.9	29,599.1	30,783.1	31,706.6
		Unit value	155.0	158.1	161.2	331.9	323.9	372.8
Machines and vehicles
		Value	53.0	53.1	51.7	107.0	127.7	136.9
		Volume	30,300.0	31,209.0	29,640.0	30,300.0	36,360.0	38,178.0
		Unit value	1,750.0	1,702.0	1,743.3	3,531.0	3,513.0	3,585.8
Petroleum products
		Value	22.4	22.2	21.0	29.1	37.3	52.2
		Volume	227,086.3	232,816.8	200,095.5	226,004.0	289,905.0	332,843.0
		Unit value	98.5	95.5	104.7	128.9	128.6	156.8
Construction materials
		Value	20.2	21.0	18.6	33.7	39.6	40.5
		Volume	40,480.0	44,528.0	40,100.0	34,474.0	40,000.0	41,800.0
		Unit value	499.0	470.9	464.6	976.4	989.7	970.0
Chemical products
		Value	21.4	20.3	20.0	33.9	35.4	37.0
		Volume	85,375.0	85,302.0	85,300.0	74,077.0	77,780.9	81,281.0
		Unit value	250.9	237.4	234.1	457.2	454.6	454.6
Textiles and leather
		Value	12.7	13.5	14.3	22.5	20.8	22.4
		Volume	25,750.0	26,522.5	27,318.2	21,854.5	22,510.2	23,410.6
		Unit value	495.0	509.9	525.1	1,029.7	925.7	956.0
Other
		Value	30.0	34.6	39.0	75.4	85.0	68.3
Total			192.7	190.4	191.9	349.3	397.5	407.8

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)

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

^{^1/}Data may not add up because of rounding.

^{^2/}Including the former U.S.S.R., Eastern European countries, and others.

Table 36.

Mali: Direction of Trade, 1991-96 ^1/

(In millions of U.S. dollars)

						1991		1992		1993		1994		1995		1996
						Value	Percent	Value	Percent	Value	Percent	Value	Percent	Value	Percent	Value	Percent
Exports						266.55	100.00	216.24	100.00	218.27	100.00	175.75	100.00	237.07	100.00	287.52	100.00
	Industrial countries					101.55	38.10	108.01	49.95	77.77	35.63	97.06	55.23	91.92	38.77	105.07	36.54
		Of which:
			Belgium-Luxembourg			39.68	14.89	34.28	15.85	5.56	2.55	25.96	14.77	17.76	7.49	12.39	4.31
			France			8.04	3.02	8.96	4.14	8.42	3.86	738	4.20	6.91	2.91	4.94	1.72
			Germany			11.02	4.13	9.61	4.44	5.94	2.72	3.84	2.18	3.73	1.57	2.87	1.00
			Spain			1.86	0.70	1.96	0.91	2.74	1.26	4.48	2.55	7.76	3.27	7.82	2.72
			United Kingdom			2.62	0.98	3.38	1.56	2.13	0.98	0.66	0.38	0.32	0.13	0.96	0.33
	Developing countries					163.01	61.16	106.05	49.04	137.90	63.18	75.60	43.02	141.35	59.62	177.96	61.89
		Of which:
			Africa			26.68	10.01	26.19	12.11	27.56	12.63	17.30	9.84	21.73	9.17	32.14	11.18
				Of which: Côte d’Ivoire		2.57	0.96	7.97	3.69	7.91	3.62	2.07	1.18	2.90	1.22	4.23	1.47
			Asia			97.43	36.55	78.47	36.29	64.61	29.60	45.83	26.08	98.10	41.38	137.58	47.85
				Of which: People’s
					Republic of China	35.65	13.37	31.73	14.67	0.00	0.00	8.27	4.71	33.04	13.94	12.37	4.30
			Others ^2/			38.90	14.59	1.39	1.01	45.73	20.95	12.47	7.10	21.52	9.08	8.24	2.87
Imports						666.99	100.00	739.17	100.00	737.46	100.00	717.98	100.00	1018.00	100.00	1143.00	100.00
	Industrial countries					279.21	41.86	317.92	43.01	297.73	40.37	245.91	34.25	393.12	38.62	429.86	37.61
			Of which:
				Belgium-Luxembourg		25.29	3.79	27.79	3.76	23.36	3.17	33.15	4.62	33.81	3.32	33.89	2.97
				France		124.82	18.71	153.73	20.80	131.22	17.79	105.14	14.64	191.52	18.81	218.82	19.14
				Germany		29.83	4.47	22.71	3.07	24.20	3.28	15.94	2.22	17.00	1.67	26.82	2.35
				Spain		6.70	1.00	10.80	1.46	10.50	1.42	6.09	0.85	12.42	1.22	15.48	1.35
				United Kingdom		18.45	2.77	21.74	2.94	15.62	2.12	18.27	2.54	41.71	4.10	41.71	3.65
	Developing countries					361.98	54.27	392.51	53.10	405.49	54.98	431.34	60.08	575.14	56.50	670.42	58.65
		Of which:
			Africa			309.96	46.47	324.24	43.87	325.23	44.10	367.23	51.15	473.86	46.55	562.00	49.17
				Of which: Côte d’Ivoire		153.17	22.96	133.27	18.03	121.42	16.46	118.69	16.53	166.21	16.33	202.51	17.72
			Asia			38.33	5.75	55.87	7.56	66.54	9.02	53.45	7.44	82.18	8.07	77.75	6.80
				Of which: People’s
					Republic of China	11.07	1.66	5.98	0.81	12.71	1.72	11.89	1.66	27.61	171	16.75	1.47
			Others ^2/			13.69	2.05	12.40	1.68	13.72	1.86	10.66	1.48	19.10	1.88	30.67	2.68
Memorandum items:
	Share of total trade
		France				132.86	14.23	162.69	17.03	139.65	14.61	112.52	12.59	198.43	15.81	223.76	15.64
		Côte d’Ivoire				155.74	16.68	171.32	17.93	203.80	21.32	232.39	26.00	298.40	23.78	206.74	14.45
		Germany				40.85	4.38	32.32	3.38	30.14	3.15	19.78	2.21	20.73	1.65	29.69	2.08

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

^{^1/}Data may not add up because of rounding.

^{^2/}Including the former U.S.S.R., Eastern European countries, and others.

Table 36.

Mali: Direction of Trade, 1991-96 ^1/

(In millions of U.S. dollars)

						1991		1992		1993		1994		1995		1996
						Value	Percent	Value	Percent	Value	Percent	Value	Percent	Value	Percent	Value	Percent
Exports						266.55	100.00	216.24	100.00	218.27	100.00	175.75	100.00	237.07	100.00	287.52	100.00
	Industrial countries					101.55	38.10	108.01	49.95	77.77	35.63	97.06	55.23	91.92	38.77	105.07	36.54
		Of which:
			Belgium-Luxembourg			39.68	14.89	34.28	15.85	5.56	2.55	25.96	14.77	17.76	7.49	12.39	4.31
			France			8.04	3.02	8.96	4.14	8.42	3.86	738	4.20	6.91	2.91	4.94	1.72
			Germany			11.02	4.13	9.61	4.44	5.94	2.72	3.84	2.18	3.73	1.57	2.87	1.00
			Spain			1.86	0.70	1.96	0.91	2.74	1.26	4.48	2.55	7.76	3.27	7.82	2.72
			United Kingdom			2.62	0.98	3.38	1.56	2.13	0.98	0.66	0.38	0.32	0.13	0.96	0.33
	Developing countries					163.01	61.16	106.05	49.04	137.90	63.18	75.60	43.02	141.35	59.62	177.96	61.89
		Of which:
			Africa			26.68	10.01	26.19	12.11	27.56	12.63	17.30	9.84	21.73	9.17	32.14	11.18
				Of which: Côte d’Ivoire		2.57	0.96	7.97	3.69	7.91	3.62	2.07	1.18	2.90	1.22	4.23	1.47
			Asia			97.43	36.55	78.47	36.29	64.61	29.60	45.83	26.08	98.10	41.38	137.58	47.85
				Of which: People’s
					Republic of China	35.65	13.37	31.73	14.67	0.00	0.00	8.27	4.71	33.04	13.94	12.37	4.30
			Others ^2/			38.90	14.59	1.39	1.01	45.73	20.95	12.47	7.10	21.52	9.08	8.24	2.87
Imports						666.99	100.00	739.17	100.00	737.46	100.00	717.98	100.00	1018.00	100.00	1143.00	100.00
	Industrial countries					279.21	41.86	317.92	43.01	297.73	40.37	245.91	34.25	393.12	38.62	429.86	37.61
			Of which:
				Belgium-Luxembourg		25.29	3.79	27.79	3.76	23.36	3.17	33.15	4.62	33.81	3.32	33.89	2.97
				France		124.82	18.71	153.73	20.80	131.22	17.79	105.14	14.64	191.52	18.81	218.82	19.14
				Germany		29.83	4.47	22.71	3.07	24.20	3.28	15.94	2.22	17.00	1.67	26.82	2.35
				Spain		6.70	1.00	10.80	1.46	10.50	1.42	6.09	0.85	12.42	1.22	15.48	1.35
				United Kingdom		18.45	2.77	21.74	2.94	15.62	2.12	18.27	2.54	41.71	4.10	41.71	3.65
	Developing countries					361.98	54.27	392.51	53.10	405.49	54.98	431.34	60.08	575.14	56.50	670.42	58.65
		Of which:
			Africa			309.96	46.47	324.24	43.87	325.23	44.10	367.23	51.15	473.86	46.55	562.00	49.17
				Of which: Côte d’Ivoire		153.17	22.96	133.27	18.03	121.42	16.46	118.69	16.53	166.21	16.33	202.51	17.72
			Asia			38.33	5.75	55.87	7.56	66.54	9.02	53.45	7.44	82.18	8.07	77.75	6.80
				Of which: People’s
					Republic of China	11.07	1.66	5.98	0.81	12.71	1.72	11.89	1.66	27.61	171	16.75	1.47
			Others ^2/			13.69	2.05	12.40	1.68	13.72	1.86	10.66	1.48	19.10	1.88	30.67	2.68
Memorandum items:
	Share of total trade
		France				132.86	14.23	162.69	17.03	139.65	14.61	112.52	12.59	198.43	15.81	223.76	15.64
		Côte d’Ivoire				155.74	16.68	171.32	17.93	203.80	21.32	232.39	26.00	298.40	23.78	206.74	14.45
		Germany				40.85	4.38	32.32	3.38	30.14	3.15	19.78	2.21	20.73	1.65	29.69	2.08

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

^{^1/}Data may not add up because of rounding.

^{^2/}Including the former U.S.S.R., Eastern European countries, and others.

Table 37.

Mali: Terms of Trade Indices, 1991-96

Index (1985 = 100)

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

^{^1/}Unit value indices for exports and imports are Fisher indices calculated in terms of CFA francs.

Table 37.

Mali: Terms of Trade Indices, 1991-96

Index (1985 = 100)

		1991	1992	1993	1994	1995	1996
							Prel.
Export indices
	Value	132.2	121.1	125.0	236.2	285.3	288.6
	Volume	157.2	164.3	168.0	170.3	203.7	209.1
	Unit value ^1/	84.1	73.7	74.4	138.7	140.1	138.0
Import indices
	Value	91.4	90.3	91.0	165.7	188.5	193.4
	Volume	99.5	98.7	97.1	94.4	108.1	110.4
	Unit value ^1/	91.8	91.5	93.8	175.4	174.5	175.3
Terms of trade		91.6	80.6	79.4	79.0	80.3	78.8

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

^{^1/}Unit value indices for exports and imports are Fisher indices calculated in terms of CFA francs.

Table 37.

Mali: Terms of Trade Indices, 1991-96

Index (1985 = 100)

		1991	1992	1993	1994	1995	1996
							Prel.
Export indices
	Value	132.2	121.1	125.0	236.2	285.3	288.6
	Volume	157.2	164.3	168.0	170.3	203.7	209.1
	Unit value ^1/	84.1	73.7	74.4	138.7	140.1	138.0
Import indices
	Value	91.4	90.3	91.0	165.7	188.5	193.4
	Volume	99.5	98.7	97.1	94.4	108.1	110.4
	Unit value ^1/	91.8	91.5	93.8	175.4	174.5	175.3
Terms of trade		91.6	80.6	79.4	79.0	80.3	78.8

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

^{^1/}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)

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

^{^1/}In the balance of payments, grants are included under official transfers; loans are included in nonmonetary capital receipts.

^{^2/}Includes budgetary aid channeled both through the Treasury and outside the Treasury.

Table 38.

Mali: Foreign Aid, 1991-96 ^1/

(In billions of CFA francs)

			1991	1992	1993	1994	1995	1996
Total foreign aid			138.9	133.6	97.6	228.6	221.5	226.2
	Grants		89.6	94.9	67.3	136.9	111.4	124.1
	Loans		49.3	38.7	30.3	91.7	110.1	102.1
Project aid			70	67	58.5	115	133.5	137.3
	Grants		38.8	38	30	55	63	69.8
	Loans		31.2	29	28.5	60	70.5	67.5
Budgetary aid ^2/			41	32.3	13.8	74.5	69	61.3
	Grants		22.9	22.6	12	42.8	29.4	26.7
	Loans		18.1	9.7	1.8	31.7	39.6	34.6
Aid in kind			6.8	5.8	3.9	13.1	5.5	6.1
	Grants		6.8	5.8	3.9	13.1	5.5	6.1
		Of which: cereal	4.5	1.5	1.1	2.4	1.7	…
Technical assistance
	Grants		21.1	28.5	21.4	23.5	13.5	21.5

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

^{^1/}In the balance of payments, grants are included under official transfers; loans are included in nonmonetary capital receipts.

^{^2/}Includes budgetary aid channeled both through the Treasury and outside the Treasury.

Table 38.

Mali: Foreign Aid, 1991-96 ^1/

(In billions of CFA francs)

			1991	1992	1993	1994	1995	1996
Total foreign aid			138.9	133.6	97.6	228.6	221.5	226.2
	Grants		89.6	94.9	67.3	136.9	111.4	124.1
	Loans		49.3	38.7	30.3	91.7	110.1	102.1
Project aid			70	67	58.5	115	133.5	137.3
	Grants		38.8	38	30	55	63	69.8
	Loans		31.2	29	28.5	60	70.5	67.5
Budgetary aid ^2/			41	32.3	13.8	74.5	69	61.3
	Grants		22.9	22.6	12	42.8	29.4	26.7
	Loans		18.1	9.7	1.8	31.7	39.6	34.6
Aid in kind			6.8	5.8	3.9	13.1	5.5	6.1
	Grants		6.8	5.8	3.9	13.1	5.5	6.1
		Of which: cereal	4.5	1.5	1.1	2.4	1.7	…
Technical assistance
	Grants		21.1	28.5	21.4	23.5	13.5	21.5

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

^{^1/}In the balance of payments, grants are included under official transfers; loans are included in nonmonetary capital receipts.

^{^2/}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/

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

^{^1/}Data may not add up because of rounding.

^{^2/}Includes export credits.

^{^3/}End of period exchange rate.

Table 39.

Mali: External Disbursed Public Debt Outstanding by Creditor, 1991-96 ^1/

				1991	1992	1993	1994	1995	1996
				In millions of U.S. dollars, unless otherwise indicated; end of period
Suppliers’ credits				4.4	2.0	0.8	0.0	0.0	0.0
	Of which:
		Germany		1.5	0.8	0.8	0.0	0.0	0.0
		United Kingdom		2.9	1.2	0.0	0.0	0.0	0.0
Financial institutions ^2/				7.4	4.0	3.2	2.1	2.3	0.0
	Of which:
		Netherlands		1.4	3.3	1.9	2.1	2.3	0.0
		Multiple lenders		0.2	0.0	0.0	0.0	0.0	0.0
		Switzerland		0.0	0.6	1.3	0.0	0.0	0.0
		United Kingdom		5.8	0.0	0.0	0.0	0.0	0.0
Multilateral loans				1000.2	1061.7	1105.0	1252.8	1399.1	1477.6
	Of which:
		African Development Bank		12.7	11.0	10.1	9.7	8.6	11.2
		African Development Fund		248.9	253.8	259.9	285.3	333.5	359.6
		BADEA		22.6	19.6	17.8	17.1	16.4	12.3
		EEC		10.0	8.3	7.7	8.4	8.8	8.4
		European Development Fund		21.8	27.3	25.1	27.1	28.4	26.5
		European Investment Bank		16.6	29.7	28.0	29.7	35.0	33.7
		FIDA		29.7	32.0	35.1	37.6	39.0	42.9
		IDA		569.3	611.1	655.7	769.6	863.0	915.2
		Islamic Development Bank		30.4	30.3	30.7	32.6	31.6	32.3
		League of Arab States		5.5	5.0	64	3.8	3.1	1.3
		OPEC Special Fund		30.4	27.8	23.0	26.4	23.3	21.4
		West African Development Bank		0.0	0.0	0.0	0.0	3.2	8.0
		African Solidarity Fund		2.5	2.5	2.5	2.5	2.5	2.5
		ECOWAS		0.0	3.4	3.1	3.0	2.7	2.3
Bilateral loans				1581.6	1668.6	1635.7	1250.2	1297.7	1266.7
	Of which:
		Algeria		26.0	23.2	25.9	22.6	20.5	18.2
		Switzerland		43.4	71.0	91.9	0.0	0.0	0.0
		China, People’s Republic of		1366	120.8	119.3	117.4	137.3	139.3
		Côte d’Ivoire		0.0	0.0	0.0	0.0	8.0	7.5
		Egypt, Arab Republic of		3.7	3.7	3.7	3.6	3.6	0
		France		596.3	628.3	562.9	293.0	318.6	288.1
		Iraq		20.0	20.0	20.0	20.0	20.0	20.0
		Italy		4.4	6.8	7.4	2.8	2.7	1.3
		Japan		6.3	38.4	42.8	47.6	64.1	80.8
		Kuwait		46.4	41.1	39.2	35.9	35.2	35.0
		Libya		4.6	8.0	7.7	7.2	7.2	6.0
		Netherlands		4.0	4.0	4.5	5.0	5.4	2.5
		Qatar		2.6	0.0	0.0	0.0	0.0	0.0
		Saudi Arabia		82.1	101.2	106.7	96.7	84.6	78.6
		United Arab Emirates		36.4	34.5	36.7	33.5	26.1	23.6
		United Kingdom		16.7	16.7	16.7	16.7	16.6	18.0
		Russia		549.7	549.7	549.0	548.3	547.6	547.6
			Subtotal	2593.6	2736.3	2744.7	2505.1	2699.0	2744.3
Use of IMF resources				60.1	65.4	70.6	108.2	147.1	164.8
			Total	2653.7	2801.7	2815.3	2613.3	2846.1	2909.1
Memorandum items:
				(In percent of total debt outstanding)
	Suppliers			0.2	0.1	0.0	0.0	0.0	0.0
	Financial institutions			0.3	0.1	0.1	0.1	0.1	0.0
	Multilateral loans including IMF Trust Fund			40.0	42.0	43.1	45.1	54.2	56.5
	Bilateral loans
			including operations account	59.6	59.6	58.1	47.8	45.6	43.5
			China, People’s Republic of	5.1	4.3	4.2	4.5	4.8	4.8
			France	22.5	22.4	20.0	11.2	11.2	9.9
			Russia	20.7	19.6	19.5	21.0	19.2	18.8
	IMF			2.4	2.6	2.7	4.0	5.2	5.7
	Exchange rate: CFAF/U.S. dollar ^3/			259.0	275.3	294.8	534.6	490.0	523.7

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

^{^1/}Data may not add up because of rounding.

^{^2/}Includes export credits.

^{^3/}End of period exchange rate.

Table 39.

Mali: External Disbursed Public Debt Outstanding by Creditor, 1991-96 ^1/

				1991	1992	1993	1994	1995	1996
				In millions of U.S. dollars, unless otherwise indicated; end of period
Suppliers’ credits				4.4	2.0	0.8	0.0	0.0	0.0
	Of which:
		Germany		1.5	0.8	0.8	0.0	0.0	0.0
		United Kingdom		2.9	1.2	0.0	0.0	0.0	0.0
Financial institutions ^2/				7.4	4.0	3.2	2.1	2.3	0.0
	Of which:
		Netherlands		1.4	3.3	1.9	2.1	2.3	0.0
		Multiple lenders		0.2	0.0	0.0	0.0	0.0	0.0
		Switzerland		0.0	0.6	1.3	0.0	0.0	0.0
		United Kingdom		5.8	0.0	0.0	0.0	0.0	0.0
Multilateral loans				1000.2	1061.7	1105.0	1252.8	1399.1	1477.6
	Of which:
		African Development Bank		12.7	11.0	10.1	9.7	8.6	11.2
		African Development Fund		248.9	253.8	259.9	285.3	333.5	359.6
		BADEA		22.6	19.6	17.8	17.1	16.4	12.3
		EEC		10.0	8.3	7.7	8.4	8.8	8.4
		European Development Fund		21.8	27.3	25.1	27.1	28.4	26.5
		European Investment Bank		16.6	29.7	28.0	29.7	35.0	33.7
		FIDA		29.7	32.0	35.1	37.6	39.0	42.9
		IDA		569.3	611.1	655.7	769.6	863.0	915.2
		Islamic Development Bank		30.4	30.3	30.7	32.6	31.6	32.3
		League of Arab States		5.5	5.0	64	3.8	3.1	1.3
		OPEC Special Fund		30.4	27.8	23.0	26.4	23.3	21.4
		West African Development Bank		0.0	0.0	0.0	0.0	3.2	8.0
		African Solidarity Fund		2.5	2.5	2.5	2.5	2.5	2.5
		ECOWAS		0.0	3.4	3.1	3.0	2.7	2.3
Bilateral loans				1581.6	1668.6	1635.7	1250.2	1297.7	1266.7
	Of which:
		Algeria		26.0	23.2	25.9	22.6	20.5	18.2
		Switzerland		43.4	71.0	91.9	0.0	0.0	0.0
		China, People’s Republic of		1366	120.8	119.3	117.4	137.3	139.3
		Côte d’Ivoire		0.0	0.0	0.0	0.0	8.0	7.5
		Egypt, Arab Republic of		3.7	3.7	3.7	3.6	3.6	0
		France		596.3	628.3	562.9	293.0	318.6	288.1
		Iraq		20.0	20.0	20.0	20.0	20.0	20.0
		Italy		4.4	6.8	7.4	2.8	2.7	1.3
		Japan		6.3	38.4	42.8	47.6	64.1	80.8
		Kuwait		46.4	41.1	39.2	35.9	35.2	35.0
		Libya		4.6	8.0	7.7	7.2	7.2	6.0
		Netherlands		4.0	4.0	4.5	5.0	5.4	2.5
		Qatar		2.6	0.0	0.0	0.0	0.0	0.0
		Saudi Arabia		82.1	101.2	106.7	96.7	84.6	78.6
		United Arab Emirates		36.4	34.5	36.7	33.5	26.1	23.6
		United Kingdom		16.7	16.7	16.7	16.7	16.6	18.0
		Russia		549.7	549.7	549.0	548.3	547.6	547.6
			Subtotal	2593.6	2736.3	2744.7	2505.1	2699.0	2744.3
Use of IMF resources				60.1	65.4	70.6	108.2	147.1	164.8
			Total	2653.7	2801.7	2815.3	2613.3	2846.1	2909.1
Memorandum items:
				(In percent of total debt outstanding)
	Suppliers			0.2	0.1	0.0	0.0	0.0	0.0
	Financial institutions			0.3	0.1	0.1	0.1	0.1	0.0
	Multilateral loans including IMF Trust Fund			40.0	42.0	43.1	45.1	54.2	56.5
	Bilateral loans
			including operations account	59.6	59.6	58.1	47.8	45.6	43.5
			China, People’s Republic of	5.1	4.3	4.2	4.5	4.8	4.8
			France	22.5	22.4	20.0	11.2	11.2	9.9
			Russia	20.7	19.6	19.5	21.0	19.2	18.8
	IMF			2.4	2.6	2.7	4.0	5.2	5.7
	Exchange rate: CFAF/U.S. dollar ^3/			259.0	275.3	294.8	534.6	490.0	523.7

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

^{^1/}Data may not add up because of rounding.

^{^2/}Includes export credits.

^{^3/}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)

Sources: IBRD, Debtor Reporting System and Malian authorities.

Table 40.

Mali: Structure and Terms of New Loan Commitments, 1991-96

(In millions of U.S. dollars, unless otherwise specified)

			1991	1992	1993	1994	1995	1996
Category of lender
	Bilateral loans		2.761	23.870	20.265	5.802	61.903	12.682
	Multilateral loans		185.228	133.840	80.122	128.980	100.699	230.383
	Suppliers’ credits		0.000	0.000	0.000	0.000	0.000	0.000
	Financial institutions		0.000	0.000	0.706	0.000	0.000	0.000
		Total	187.989	157.710	101.093	134.782	162.602	243.065
Average terms
	Interest rate (percent)		0.889	2.337	1.537	0.848	1.465	1.415
	Maturity (years)		40.900	29.200	33.400	37.100	30.700	35.600
	Grace period (years)		9.700	8.200	7.900	9.700	8.800	9.200
	Grant element (percent)		78.800	59.000	63.500	77.700	68.600	72.200

Sources: IBRD, Debtor Reporting System and Malian authorities.

Table 40.

Mali: Structure and Terms of New Loan Commitments, 1991-96

(In millions of U.S. dollars, unless otherwise specified)

			1991	1992	1993	1994	1995	1996
Category of lender
	Bilateral loans		2.761	23.870	20.265	5.802	61.903	12.682
	Multilateral loans		185.228	133.840	80.122	128.980	100.699	230.383
	Suppliers’ credits		0.000	0.000	0.000	0.000	0.000	0.000
	Financial institutions		0.000	0.000	0.706	0.000	0.000	0.000
		Total	187.989	157.710	101.093	134.782	162.602	243.065
Average terms
	Interest rate (percent)		0.889	2.337	1.537	0.848	1.465	1.415
	Maturity (years)		40.900	29.200	33.400	37.100	30.700	35.600
	Grace period (years)		9.700	8.200	7.900	9.700	8.800	9.200
	Grant element (percent)		78.800	59.000	63.500	77.700	68.600	72.200

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/

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

^{^1/}Data may not add up because of rounding.

^{^2/}After debt cancellation until 1993; before debt rescheduling.

^{^3/}Excluding payment of arrears on external debt.

^{^4/}On current debt service obligations.

Table 41.

Mali: Debt Service on Medium- and Long-Term External Public Debt, 1991-96 ^1/ ^2/

			1991	1992	1993	1994	1995	1996
			(In billions of CFA francs)
Total scheduled debt service ^3/			43.8	47.9	47.5	94.1	83.8	78.8
	Interest		10.2	10.9	9.6	21.9	16.2	13.9
	Principal		33.6	37.0	37.9	72.3	67.6	64.9
Debt service with China			3.0	4.6	4.7	10.4	10.8	11.6
	Interest		0.0	0.0	0.0	0.0	0.0	0.0
	Principal		3.0	4.6	4.7	10.4	10.8	11.6
Debt service with Russia			20.2	21.8	20.2	32.1	29.8	27.4
	Interest		1.8	2.9	2.5	2.8	2.3	1.4
	Principal		18.3	18.8	17.7	29.3	27.5	26.0
IMF			3.6	2.6	2.9	6.2	4.5	4.9
	Charges and interest		1.0	0.9	0.4	0.8	0.9	0.9
	Repurchases and repayments		2.7	1.7	2.5	5.4	3.6	4.0
Scheduled debt service (excluding China, Russia, and IMF) ^3/			17.0	18.9	19.7	45.4	38.7	34.9
		Interest	7.4	7.1	6.7	18.2	13.0	11.6
		Principal	9.6	11.8	13.0	27.2	25.7	23.3
Scheduled debt service ^3/ (excluding China and Russia, but including IMF)			20.7	21.5	22.6	51.6	42.8	39.8
		Interest	8.4	7.9	7.1	19.0	13.9	12.5
		Principal (excluding IMF)	9.6	11.8	13.0	27.2	25.3	23.3
		Repurchases to IMF	2.7	1.7	2.5	5.4	3.6	4.0
			(In percent of exports of goods and nonfactor services)
Debt service ratio (including China and Russia) ^3/			35.2	41.1	39.6	41.7	3L6	29.3
		Interest	8.2	9.4	8.0	9.7	6.1	5.2
		Principal	27.0	31.8	31.6	32.0	25.5	24.1
Debt service ratio vis-à-vis the IMF			2.9	2.2	2.4	2.7	1.7	1.8
Debt service ratio (excluding China and Russia, but including IMF) ^3/			16.6	18.5	18.8	22.8	16.3	14.8
		Interest	6.7	6.8	5.9	8.4	5.1	4.6
		Principal	9.9	11.6	12.9	14.4	11.1	10.1
			(In billions of CFA francs)
Debt rescheduling ^4/			0.7	3.0	5.8	7.1	2.3	2.0
Debt cancellation			0.0	0.0	0.0	2.3	2.0	0.0
Exports of goods and nonfactor services			124.6	116.5	120.1	225.9	265.1	269.4

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

^{^1/}Data may not add up because of rounding.

^{^2/}After debt cancellation until 1993; before debt rescheduling.

^{^3/}Excluding payment of arrears on external debt.

^{^4/}On current debt service obligations.

Table 41.

Mali: Debt Service on Medium- and Long-Term External Public Debt, 1991-96 ^1/ ^2/

			1991	1992	1993	1994	1995	1996
			(In billions of CFA francs)
Total scheduled debt service ^3/			43.8	47.9	47.5	94.1	83.8	78.8
	Interest		10.2	10.9	9.6	21.9	16.2	13.9
	Principal		33.6	37.0	37.9	72.3	67.6	64.9
Debt service with China			3.0	4.6	4.7	10.4	10.8	11.6
	Interest		0.0	0.0	0.0	0.0	0.0	0.0
	Principal		3.0	4.6	4.7	10.4	10.8	11.6
Debt service with Russia			20.2	21.8	20.2	32.1	29.8	27.4
	Interest		1.8	2.9	2.5	2.8	2.3	1.4
	Principal		18.3	18.8	17.7	29.3	27.5	26.0
IMF			3.6	2.6	2.9	6.2	4.5	4.9
	Charges and interest		1.0	0.9	0.4	0.8	0.9	0.9
	Repurchases and repayments		2.7	1.7	2.5	5.4	3.6	4.0
Scheduled debt service (excluding China, Russia, and IMF) ^3/			17.0	18.9	19.7	45.4	38.7	34.9
		Interest	7.4	7.1	6.7	18.2	13.0	11.6
		Principal	9.6	11.8	13.0	27.2	25.7	23.3
Scheduled debt service ^3/ (excluding China and Russia, but including IMF)			20.7	21.5	22.6	51.6	42.8	39.8
		Interest	8.4	7.9	7.1	19.0	13.9	12.5
		Principal (excluding IMF)	9.6	11.8	13.0	27.2	25.3	23.3
		Repurchases to IMF	2.7	1.7	2.5	5.4	3.6	4.0
			(In percent of exports of goods and nonfactor services)
Debt service ratio (including China and Russia) ^3/			35.2	41.1	39.6	41.7	3L6	29.3
		Interest	8.2	9.4	8.0	9.7	6.1	5.2
		Principal	27.0	31.8	31.6	32.0	25.5	24.1
Debt service ratio vis-à-vis the IMF			2.9	2.2	2.4	2.7	1.7	1.8
Debt service ratio (excluding China and Russia, but including IMF) ^3/			16.6	18.5	18.8	22.8	16.3	14.8
		Interest	6.7	6.8	5.9	8.4	5.1	4.6
		Principal	9.9	11.6	12.9	14.4	11.1	10.1
			(In billions of CFA francs)
Debt rescheduling ^4/			0.7	3.0	5.8	7.1	2.3	2.0
Debt cancellation			0.0	0.0	0.0	2.3	2.0	0.0
Exports of goods and nonfactor services			124.6	116.5	120.1	225.9	265.1	269.4

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

^{^1/}Data may not add up because of rounding.

^{^2/}After debt cancellation until 1993; before debt rescheduling.

^{^3/}Excluding payment of arrears on external debt.

^{^4/}On current debt service obligations.

Table 42.

Mali: Nominal and Real Effective Exchange Rate Indices, 1990-97 ^1/

(Index: 1990=100)

Source: IMF, Information Notice System (INS).

^{^1/}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).

Table 42.

Mali: Nominal and Real Effective Exchange Rate Indices, 1990-97 ^1/

(Index: 1990=100)

		Nominal	Real
1990
	First quarter	98.78	99.04
	Second quarter	99.49	98.65
	Third quarter	100.12	99.95
	Fourth quarter	101.54	102.36
1991
	First quarter	100.73	101.26
	Second quarter	97.53	96.10
	Third quarter	97.27	94.71
	Fourth quarter	98.89	92.98
1992
	First quarter	99.52	91.75
	Second quarter	100.59	89.38
	Third quarter	103.91	90.51
	Fourth quarter	104.80	91.52
1993
	First quarter	104.62	89.90
	Second quarter	104.91	89.64
	Third quarter	102.42	87.74
	Fourth quarter	102.95	87.85
1994
	First quarter	52.76	50.94
	Second quarter	52.98	53.65
	Third quarter	53.97	57.10
	Fourth quarter	54.03	58.18
1995
	First quarter	54.62	58.97
	Second quarter	55.27	61.71
	Third quarter	55.51	62.44
	Fourth quarter	55.78	64.44
1996
	First quarter	55.51	63.92
	Second quarter	55.02	64.64
	Third quarter	55.19	64.52
	Fourth quarter	54.80	63.45
1997
	First quarter	53.69	62.02
	Second quarter	53.09	60.94

Source: IMF, Information Notice System (INS).

Table 42.

Mali: Nominal and Real Effective Exchange Rate Indices, 1990-97 ^1/

(Index: 1990=100)

		Nominal	Real
1990
	First quarter	98.78	99.04
	Second quarter	99.49	98.65
	Third quarter	100.12	99.95
	Fourth quarter	101.54	102.36
1991
	First quarter	100.73	101.26
	Second quarter	97.53	96.10
	Third quarter	97.27	94.71
	Fourth quarter	98.89	92.98
1992
	First quarter	99.52	91.75
	Second quarter	100.59	89.38
	Third quarter	103.91	90.51
	Fourth quarter	104.80	91.52
1993
	First quarter	104.62	89.90
	Second quarter	104.91	89.64
	Third quarter	102.42	87.74
	Fourth quarter	102.95	87.85
1994
	First quarter	52.76	50.94
	Second quarter	52.98	53.65
	Third quarter	53.97	57.10
	Fourth quarter	54.03	58.18
1995
	First quarter	54.62	58.97
	Second quarter	55.27	61.71
	Third quarter	55.51	62.44
	Fourth quarter	55.78	64.44
1996
	First quarter	55.51	63.92
	Second quarter	55.02	64.64
	Third quarter	55.19	64.52
	Fourth quarter	54.80	63.45
1997
	First quarter	53.69	62.02
	Second quarter	53.09	60.94

Source: IMF, Information Notice System (INS).

APPENDIX Mali: Summary of Tax System as of June 30, 1997

Source: Information provided by the Malian authorities.

^{^1/}Suspended since 1979.

^{^2/}Suspended since August 1993.

^{^3/}Suspended since February 1994.

Tax			Nature of Tax	Exemptions and Deductions	Rates
1. Tax on Income and Profits
	1.1	Tax 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
	1.2	Minimum presumptive tax	Constitutes a minimum assessment for enterprises subject to corporate tax.		0.75 percent on turnover.
	1.3	Schedular 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.
	1.4	Schedular 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
	1.5	Tax 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).
	1.6	Tax 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
	1.7	General income tax	Annual 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 25,000	0
					25,001 to 100,000	8
					100,001 to 200,000	12
					200,001 to 325,000	18
					325,001 to 500,000	25
					500,001 to 750,000	30
					750,001 to 1,000,000	35
					1,000,001 to 1,500,000	40
					1,500,001 to 2,000,000	45
					Over 2,000,000	50
2. Contributions for Social Security
	2.1	Family allowances	Employer contribution		8 percent.
	2.2	Sickness and occupational accidents	Employer contribution.		Sickness: Accidents:	2.0 percent 4.0 percent
	2.3	Retirement	Contributions from employers and employees.		Employers: Employees:	3.4 percent 3.6 percent
3. Payroll Taxes
	3.1	Payroll tax due from employer	Levied 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
	3.2	Housing tax	Levied on the wage bill and earmarked for the Ministry of Housing.		1 percent.
4. Taxes on Property
	4.1	Real estate tax	Tax 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
	4.2	Registration fees	Applies 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.
	4.3	Livestock tax	Levied 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
	5.1	Value-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
	5.2	Tax 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
	5.3	Selective excises	Assessed on imported products and local manufactures.		Normal rate:	From 2 to 125 percent
	5.4	Ad valorem tax on gold	Levied on crude gold sales at production stage.	Refining costs included in sale proceeds.	3 percent
	5.5	Business 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
	5.5	Business license fee (Patentes)			Flat rates:	variable from CFAF 7,200 to CFAF 1,000,000.
	5.6	Special 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.
	5.7	Motor vehicles tax	Tax 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.
	5.8	Taxes on firearms	Annual 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.
	5.9	Tax on insurance contracts	Levied 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
	6.1	Customs duties on imports	Levied on the c.i.f. value of all imports from all countries.	Productive capital goods, agricultural inputs, pharmaceutical products, and solar energy equipment	Ad valorem duties at the rates of zero or 5 percent
	6.2	Fiscal duty on imports	Levied 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
	6.3	VAT on imports	See 5.1 above.	See 5.1 above.	See 5.1 above.
	6.4	Regional 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.
	6.5	Variable 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.
	6.6	Selective excises on imported goods.	See 5.3 above		See 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 tax	Levied on the c.i.f. value of goods imported from nonmember countries of the WAEC.	Petroleum products.	1 percent.
		6.9 Customs service fee	Levied 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
	6.10	Special tax on petroleum imports	Levied 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
	7.1	Regional and local development tax (TDRL)	Levied on individuals	Children under 14 years and students.	Variable rates by region (from CFAF 875 to CFAF 3,000).
	7.2	Stamp duties	Applies 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.

^{^1/}Suspended since 1979.

^{^2/}Suspended since August 1993.

^{^3/}Suspended since February 1994.

Tax			Nature of Tax	Exemptions and Deductions	Rates
1. Tax on Income and Profits
	1.1	Tax 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
	1.2	Minimum presumptive tax	Constitutes a minimum assessment for enterprises subject to corporate tax.		0.75 percent on turnover.
	1.3	Schedular 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.
	1.4	Schedular 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
	1.5	Tax 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).
	1.6	Tax 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
	1.7	General income tax	Annual 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 25,000	0
					25,001 to 100,000	8
					100,001 to 200,000	12
					200,001 to 325,000	18
					325,001 to 500,000	25
					500,001 to 750,000	30
					750,001 to 1,000,000	35
					1,000,001 to 1,500,000	40
					1,500,001 to 2,000,000	45
					Over 2,000,000	50
2. Contributions for Social Security
	2.1	Family allowances	Employer contribution		8 percent.
	2.2	Sickness and occupational accidents	Employer contribution.		Sickness: Accidents:	2.0 percent 4.0 percent
	2.3	Retirement	Contributions from employers and employees.		Employers: Employees:	3.4 percent 3.6 percent
3. Payroll Taxes
	3.1	Payroll tax due from employer	Levied 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
	3.2	Housing tax	Levied on the wage bill and earmarked for the Ministry of Housing.		1 percent.
4. Taxes on Property
	4.1	Real estate tax	Tax 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
	4.2	Registration fees	Applies 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.
	4.3	Livestock tax	Levied 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
	5.1	Value-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
	5.2	Tax 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
	5.3	Selective excises	Assessed on imported products and local manufactures.		Normal rate:	From 2 to 125 percent
	5.4	Ad valorem tax on gold	Levied on crude gold sales at production stage.	Refining costs included in sale proceeds.	3 percent
	5.5	Business 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
	5.5	Business license fee (Patentes)			Flat rates:	variable from CFAF 7,200 to CFAF 1,000,000.
	5.6	Special 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.
	5.7	Motor vehicles tax	Tax 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.
	5.8	Taxes on firearms	Annual 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.
	5.9	Tax on insurance contracts	Levied 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
	6.1	Customs duties on imports	Levied on the c.i.f. value of all imports from all countries.	Productive capital goods, agricultural inputs, pharmaceutical products, and solar energy equipment	Ad valorem duties at the rates of zero or 5 percent
	6.2	Fiscal duty on imports	Levied 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
	6.3	VAT on imports	See 5.1 above.	See 5.1 above.	See 5.1 above.
	6.4	Regional 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.
	6.5	Variable 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.
	6.6	Selective excises on imported goods.	See 5.3 above		See 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 tax	Levied on the c.i.f. value of goods imported from nonmember countries of the WAEC.	Petroleum products.	1 percent.
		6.9 Customs service fee	Levied 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
	6.10	Special tax on petroleum imports	Levied 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
	7.1	Regional and local development tax (TDRL)	Levied on individuals	Children under 14 years and students.	Variable rates by region (from CFAF 875 to CFAF 3,000).
	7.2	Stamp duties	Applies 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.

^{^1/}Suspended since 1979.

^{^2/}Suspended since August 1993.

^{^3/}Suspended since February 1994.

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Mali: Statistical Annex

Author:

International Monetary Fund

Volume/Issue:: Volume 1998: Issue 014

Publisher:: International Monetary Fund

ISBN:: 9781451826210

ISSN:: 1934-7685

Pages:: 62

DOI:: https://doi.org/10.5089/9781451826210.002

Keywords
- APPENDIX Mali: Summary of Tax System as of June 30, 1997

Foresee

Tax			Nature of Tax	Exemptions and Deductions	Rates
1. Tax on Income and Profits
	1.1	Tax 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
	1.2	Minimum presumptive tax	Constitutes a minimum assessment for enterprises subject to corporate tax.		0.75 percent on turnover.
	1.3	Schedular 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.
	1.4	Schedular 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
	1.5	Tax 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).
	1.6	Tax 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
	1.7	General income tax	Annual 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 25,000	0
					25,001 to 100,000	8
					100,001 to 200,000	12
					200,001 to 325,000	18
					325,001 to 500,000	25
					500,001 to 750,000	30
					750,001 to 1,000,000	35
					1,000,001 to 1,500,000	40
					1,500,001 to 2,000,000	45
					Over 2,000,000	50
2. Contributions for Social Security
	2.1	Family allowances	Employer contribution		8 percent.
	2.2	Sickness and occupational accidents	Employer contribution.		Sickness: Accidents:	2.0 percent 4.0 percent
	2.3	Retirement	Contributions from employers and employees.		Employers: Employees:	3.4 percent 3.6 percent
3. Payroll Taxes
	3.1	Payroll tax due from employer	Levied 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
	3.2	Housing tax	Levied on the wage bill and earmarked for the Ministry of Housing.		1 percent.
4. Taxes on Property
	4.1	Real estate tax	Tax 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
	4.2	Registration fees	Applies 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.
	4.3	Livestock tax	Levied 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
	5.1	Value-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
	5.2	Tax 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
	5.3	Selective excises	Assessed on imported products and local manufactures.		Normal rate:	From 2 to 125 percent
	5.4	Ad valorem tax on gold	Levied on crude gold sales at production stage.	Refining costs included in sale proceeds.	3 percent
	5.5	Business 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
	5.5	Business license fee (Patentes)			Flat rates:	variable from CFAF 7,200 to CFAF 1,000,000.
	5.6	Special 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.
	5.7	Motor vehicles tax	Tax 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.
	5.8	Taxes on firearms	Annual 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.
	5.9	Tax on insurance contracts	Levied 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
	6.1	Customs duties on imports	Levied on the c.i.f. value of all imports from all countries.	Productive capital goods, agricultural inputs, pharmaceutical products, and solar energy equipment	Ad valorem duties at the rates of zero or 5 percent
	6.2	Fiscal duty on imports	Levied 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
	6.3	VAT on imports	See 5.1 above.	See 5.1 above.	See 5.1 above.
	6.4	Regional 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.
	6.5	Variable 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.
	6.6	Selective excises on imported goods.	See 5.3 above		See 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 tax	Levied on the c.i.f. value of goods imported from nonmember countries of the WAEC.	Petroleum products.	1 percent.
		6.9 Customs service fee	Levied 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
	6.10	Special tax on petroleum imports	Levied 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
	7.1	Regional and local development tax (TDRL)	Levied on individuals	Children under 14 years and students.	Variable rates by region (from CFAF 875 to CFAF 3,000).
	7.2	Stamp duties	Applies 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.

^{^1/}Suspended since 1979.

^{^2/}Suspended since August 1993.

^{^3/}Suspended since February 1994.

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APPENDIX Mali: Summary of Tax System as of June 30, 1997

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