African Economic Outlook 2003

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The African Economic Outlook is a joint project between the African Development Bank and the OECD Development Centre.  The project, initially funded by the EU, combines the expertise accumulated by the OECD and the knowledge of the African Development Bank on African economies. The objective is to review annually the recent economic situation and the short-term likely evolutions of selected African countries.  The Outlook is drawn from a country-by-country analysis based on a unique analytical design.  This common framework includes a forecasting exercise for the current and the following year using a simple macroeconomic model, together with an analysis of the social and political context.  It also contains a comparative synthesis of African country prospects.  A statistical appendix completes the volume.  Decision-makers and economists in African and OECD countries, both in the public and private sectors, aid agencies and investors will all find this volume of significant interest.

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OECD Development Centre

Mali’s GDP has grown about 6 per cent a year since the 1994 devaluation of the CFA franc. In 2001 however, the economy felt the effects of a disastrous harvest that reduced cotton production by half and cereals output by 20 per cent. These bad agricultural performances were partly made up for at macroeconomic level by the speedy opening of new gold mines, which ensured that growth in 2001 did not fall below 1.5 per cent…

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