Mali Growth and Diversification
This report describes the key policies for Mali to succeed leveraging growth with export diversification. For many decades, Mali has been a commodity-dependent country, mainly relying on gold and, to a lesser extent, cotton. However, the experience...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2019
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| Online Access: | http://documents.worldbank.org/curated/en/631411559671220398/Mali-Growth-and-Diversification http://hdl.handle.net/10986/31829 |
| Summary: | This report describes the key policies
for Mali to succeed leveraging growth with export
diversification. For many decades, Mali has been a
commodity-dependent country, mainly relying on gold and, to
a lesser extent, cotton. However, the experience of other
countries, in Africa and other parts of the world, shows
that large scale production of minerals and oil resources
offers great opportunities, but also presents major
shortcomings. These are: tendency to growth beyond potential
in cycles of booming prices; high GDP growth volatility that
translates into a fragile fiscal stance; a resource curse
that favors production of non-tradable goods; and a growth
pattern biased toward rent-seeking activities, which
prevents expansion of competitive activities creation of
abundant and better jobs. Mali is no exception to this. Mali
needs to structurally transform itself to accelerate growth
and reach its vision, Mali 2025. The Government of Mali does
not have a choice: without adequate jobs by 2025, Mali’s
burgeoning youth population will foment more violence in an
already fragile economy and keep investors away. Hence, it
has outlined a strategy to achieve this vision centered on
the diversification of its economy (and exports) away from
natural resource-based commodities. |
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