A Long Road

May 2006 | Economic Analysis

Mali is among the countries which will stand to benefit most from the 100 per cent multilateral debt relief initiative, originally proposed at the G8 summit in Gleneagles in July 2005, and fleshed out in detail in December that year. If the proposals to cancel debts owed mainly to the IMF and World Bank are implemented in 2006, the government's total foreign debt-to-GDP ratio could fall by more than half, from over 65 per cent of GDP in 2005. In theory, this will return the country's public finances to a more sustainable path, and save the government valuable hard currency

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