Mali: Request for Disbursement Under the Rapid Credit Facility and Request for a Staff-Monitored Program-Press Release; Staff Report; and Statement by the Executive Director for Mali

This paper presents Mali’s Request for Disbursement under the Rapid Credit Facility (RCF) and Request for a Staff-Monitored Program (SMP). Mali’s economy faces climate shocks amid security and humanitarian crisis, and tight financing. Recent flooding damaged infrastructure and agriculture, disrupted services, worsened food insecurity and increased internal displacement. The RCF disbursement is expected to help the authorities address the urgent balance of payment needs resulting from the floods. These include financing imports for essential items and critical infrastructure. The IMF emergency financing will help address urgent balance of payment needs from the floods, while the 11-month SMP aims to reinforce macroeconomic stability, strengthen resilience, protect the vulnerable, and improve governance, serving as an anchor for the government’s macroeconomic policy priorities. The SMP also envisages for fiscal policy to ensure sustainability amid tight financing conditions and high borrowing costs. Reforms include enhancing domestic revenue mobilization by broadening the tax base and strengthening revenue and customs administration.