Mali: First and Second Reviews Under the Extended Credit Facility Arrangement, Request for Waiver of Performance Criteria, and Request for Modification of Performance Criteria

IMF Staff Country Reports, December 11, 2014

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Canonical URL: Mali: First and Second Reviews Under the Extended Credit Facility Arrangement, Request for Waiver of Performance Criteria, and Request for Modification of Performance Criteria

Discusses Mali’s First and Second Reviews under the Extended Credit Facility (ECF) Arrangement, request for waiver of Performance Criteria (PC), and request for modification of PC.
Economic recovery is under way but remains fragile.
Buildup of large-scale donor support was hampered by serious lapses in public financial management (PFM), which raised governance concerns.
Remedial measures are now in place to address the PFM weaknesses; the program remains on track.
The authorities are requesting waivers for PCs on: tax revenue and nonconcessional borrowing.
IMF staff recommends conclusion of the first and second program reviews.

Economic recovery: under way but fragile.
Donor support: large-scale donor support buildup was hampered by serious lapses in PFM.
Governance concerns: arose from the identified PFM lapses.
Remedial measures: implemented to address PFM weaknesses and restore program track.

Authorities’ requests:
- Waiver of Performance Criteria on tax revenue.
- Waiver of Performance Criteria on nonconcessional borrowing.
IMF staff recommendation:
- Conclude the first and second program reviews, given remedial measures and program status.

Subject areas: External debt, Public and publicly-guaranteed external debt, Public debt, Public financial management (PFM), Revenue administration.
Keywords: administration reform, authority, CR, debt, disbursement of SDR, Global, government, government chart, growth prospect, ISCR, property administration, Public and publicly-guaranteed external debt, West Africa.