马里：2025年第四条磋商新闻稿；员工报告；马里执行主任的发言

2025ARTICLE IV CONSULTATION—PRESS RELEASE;STAFF REPORT; AND STATEMENT BY THE EXECUTIVEDIRECTOR FORMALI Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussionswith members, usually every year. In the context of the2025Article IV consultation withMali, the following documents have been released and are included in this package: •APress Releasesummarizing the views of the Executive Board as expressed during itsJuly 30, 2025consideration of the staff report that concluded the Article IVconsultation withMali. •TheStaff Reportprepared by a staff team of the IMF for the Executive Board’sconsideration onJuly 30,2025,following discussions that ended onJune 13,2025withthe officials ofMalion economic developments and policies. Based on informationavailable at the time of these discussions, the staff report was completed onJuly 14,2025. •AnInformational Annexprepared by the IMFstaff. •ADebt Sustainability Analysisprepared by the staffs of the IMF and the World Bank. •AStatement by the Executive DirectorforMali. The documents listed below will be separately released. Selected Issues TheIMF’s transparency policy allows for the deletion of market-sensitive information andpremature disclosure of the authorities’ policy intentions in published staff reports andother documents. Copies of this report are available to the public from International Monetary Fund•Publication ServicesPO Box 92780•Washington, D.C. 20090Telephone: (202) 623-7430•Fax: (202) 623-7201E-mail:publications@imf.org Web:http://www.imf.orgPrice: $18.00per printed copy International Monetary FundWashington, D.C. IMF Executive Board Concludes 2025 Article IV ConsultationwithMali FOR IMMEDIATE RELEASE Washington, DC – July 31, 2025:The Executive Board of the International Monetary Fund(IMF) concluded the Article IV consultation1with Mali on July 30, 2025. The authorities needmore time to consider the publication of the Staff Report prepared for this consultation2. Mali’s economy has shown some resilience despite significant headwinds. Economic growth isexpected to reach 5 percent in 2025, supported by strong agricultural production, the startof lithium extraction and continued growth in services. However, the decrease in foreign aid,lower gold production and the shutdown of the largest mine weigh negatively on the outlook.Contingent on mining activities returning to normal levels, growth is expected to rebound to5.4 percent in 2026. The fiscal deficit is forecast to widen to 3.4 percent in 2025, driven in partby government spending to mitigate the impact of the flooding. However, the outlook remainsuncertain, with considerable downside risks. Fiscal policy should prioritize achieving fiscal sustainability, particularly by converging towardWAEMU’s 3 percent of GDP fiscal deficit ceiling. Key priorities include strengthening domesticrevenue mobilization through broadening the tax base and strengthening revenue andcustoms administration. Moreover, the authorities are encouraged to improve spendingefficiency while safeguarding public investment and protecting vulnerable households. Reducing domestic policy uncertainty and advancing structural reforms are key to unlockingMali’s growth potential. Improving the business climate by improving transparency and stabilityof the regulatory framework is crucial to improving private investment. Strengthening fiscalgovernance, improving public financial management, addressing vulnerabilities in State-Owned Enterprises (SOEs), and enhancing their oversight—particularly in the electricity utility,Energie de Mali—are critical. Executive Board Assessment3 Executive Directors agreed with the thrust of the staff appraisal. They welcomed the resilienceof Mali’s economy in the face of multiple and entrenched challenges, including ongoing conflict, food insecurity, severe floods, power outages, aid cutbacks, and the shutdown of itslargest gold mine. However, they cautioned that substantial downside risks and vulnerabilitiescomplicate prospects. Against this background, Directors underscored the critical importanceof sustaining an ambitious reform momentum and promoting policy predictability, supported bycapacity development. With lower mining revenues expected and elevated spending needs post flooding, Directorssupported a temporary fiscal loosening in 2025. They however welcomed the authorities’commitment to reduce the deficit below the WAEMU deficit ceiling of 3 percent of GDP by2027, and encouraged sustained efforts to strengthen domestic revenue mobilization to helpsafeguard medium-term fiscal sustainability while creating space for social and growth-friendlycapital spending. Noting high poverty levels and the large number of displaced people amiddeclining foreign aid, Directors highlighted the importance of strengthening the social safetynet and scaling up targeted measures to support the most vulnerable. They underscored theimportance of bolstering spending efficiency and we