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Mali: The economy is asphyxiated according to Bah N'Daw in Paris

20/05/2021
Categories: General Information

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Mali's real gross domestic product (GDP) would have contracted by 2% in 2020, according to the World Bank, reflecting supply difficulties and domestic restrictions. At the “Summit on the Financing of African Economies” in Paris, Bah N'Daw speaks of an asphyxiated economy

.

The president of the Malian political transition held meetings with his French counterpart, international finance officials. An opportunity for him to shed light on the situation of the Malian economy. According to him, although the Covid-19 pandemic has relatively spared Mali, its economy is in the red

.

The pandemic and the socio-political crisis following the coup d'Etat plunged Mali into an economic recession. Real gross domestic product (GDP) would have contracted by 2% in 2020, according to the World Bank, reflecting supply difficulties and domestic restrictions. In addition, the fall in cotton production and the poor performance of the agricultural sector are factors worsening poverty, especially

in rural areas.

African and European leaders, participants in the summit, called for an “immediate moratorium” on the service of all external debts until the end of the pandemic and a sanctionalization of development aid. They also called on the IMF to award special drawing rights (SDRs) to African countries to provide them with “the cash needed to purchase basic commodities and essential medical equipment

.”
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