Moody's Investors Service ("Moody's") has today downgraded the long-term foreign and local currency issuer ratings of the Government of Mali to Caa2 from Caa1 and placed the ratings on review for further downgrade.
Mali’s real GDP growth rate is expected to stand at 4% in 2021, according to the 2021 budget law drawn up by the government. These forecasts follow a year 2020 when the contraction, more severe than initially projected, was of the order of -2%, after a high average economic growth rate of + 5.7% between 2014 and 2019.
Moody's Investors Service has downgraded the government of Mali's foreign and local currency long-term issuer ratings to Caa1 from B3, and changed the outlook to negative from stable.
On July 7, 2017, the Executive Board of the International Monetary Fund (IMF) completed the Seventh Review of Mali’s performance under an economic program supported by an Extended Credit Facility (ECF) arrangement. [1] Completion of the review enables the disbursement of SDR 31.65 million (about US$43.96 million), bringing total disbursements under the arrangement to SDR 91.65 million (about US$ 127.29 million) or 49.1 percent of quota.
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