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African Economic Outlook 2008

image of African Economic Outlook 2008

This fact-filled reference book brings the reader the latest available economic information for most of the economies of Africa.  Drawing on the expertise of both the African Development Bank and the OECD, it opens with an overview that examines the international environment, macroeconomic performance, progress towards attaining the Millennium Development Goals, and governance and political issues. This edition includes a special focus on technical and vocational skills development. The second part provides individual country reports for 35 countries.  Each country report provides an assessment of recent economic performance, projections for 2008 and 2009, an examination of structural issues, and a discussion of the political and social context.  The statistical annex presents 24 tables comparing economic and social variables across all the countries of Africa.

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Mali

OECD Development Centre

ECONOMIC GROWTH IN MALI was fairly strong — in the 4.2 per cent range — in 2007. This was nonetheless a fall from2006, when growth had reached 5.3 per cent. It is expected to be somewhat higher in 2008 and 2009. The 2007 growth slowdown is explained by a decline in the production of cotton (the main engine of the economy) and gold. On the other hand, food production progressed well.Mali has just successfully concluded its three-year programme with the InternationalMonetary Fund (IMF). TheWorld Bank and the African Development Bank (AfDB) are considering adjusting their country strategy to align it with the Growth and Poverty Reduction Strategy Paper (GPRSP) for 2007-11. Despite these encouraging results, Mali needs to reinforce its implementation of structural reforms so as to consolidate revenues, control expenditures and accelerate economic growth.This will involve, amongst other measures, restraining tax exemptions, and privatising the Compagnie malienne pour le développement des textiles (CMDT) and Énergie du Mali (EDM).

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