Mali, is a landlocked country in Western Africa. Mali borders Algeria on the north, Niger on the east, Burkina Faso and the Côte d'Ivoire on the south, Guinea on the south-west, and Senegal and Mauritania on the west. Its size is just over 1,240,000 km² with a population of 14.5 million. Its capital is Bamako. Mali consists of eight regions and its borders on the north reach deep into the middle of the Sahara, while the country's southern region, where the majority of inhabitants live, features the Niger and Sénégal rivers. The country's economic structure centers around agriculture and fishing. Some of Mali's natural resources are gold, uranium, livestock, and salt. About half the population live below the international poverty line of US$1.25 a day.
Present-day Mali was once part of three West African empires that controlled trans-Saharan trade: the Ghana Empire, the Mali Empire (from which Mali is named), and the Songhai Empire. In the late 19th century, during the Scramble for Africa, France seized control of Mali making it a part of French Sudan. French Sudan (then known as the Sudanese Republic) joined with Senegal in 1959, achieving independence in 1960 as the Mali Federation. Shortly thereafter, following Senegal's withdrawal from the federation, the Sudanese Republic declared itself the independent Republic of Mali. After a long period of one-party rule, a 1991 coup led to the writing of a new constitution and the establishment of Mali as a democratic, multi-party state. On March 22, 2012, a group of junior soldiers seized control of the country's presidential palace and declared the government dissolved and its constitution suspended.
Economy of Mali
Mali is one of the poorest countries in the world. The average worker's annual salary is approximately US$1,500. Between 1992 and 1995, Mali implemented an economic adjustment program that resulted in economic growth and a reduction in financial imbalances. The program increased social and economic conditions, and led to Mali joining the World Trade Organization on 31 May 1995.The gross domestic product (GDP) has risen since. In 2002, the GDP amounted to US$3.4 billion, and increased to US$5.8 billion in 2005, which amounts to an approximately 17.6% annual growth rate.
Mali's key industry is agriculture. Cotton is the country's largest crop export and is exported west throughout Senegal and the Ivory Coast. During 2002, 620,000 tons of cotton were produced in Mali but cotton prices declined significantly in 2003. In addition to cotton, Mali produces rice, millet, corn, vegetables, tobacco, and tree crops. Gold, livestock and agriculture amount to eighty percent of Mali's exports. Eighty percent of Malian workers are employed in agriculture while fifteen percent work in the service sector. However, seasonal variations lead to regular temporary unemployment of agricultural workers. Mali's resource in livestock consists of millions of cattle, sheep, and goats. Approximately 40% of Mali's herds were lost during the Sahel drought in 1972–74.
In 1991, with the assistance of the International Development Association, Mali relaxed the enforcement of mining codes which led to renewed foreign interest and investment in the mining industry.[46] Gold is mined in the southern region and Mali has the third highest gold production in Africa (after South Africa and Ghana). The emergence of gold as Mali’s leading export product since 1999 has helped mitigate some of the negative impact of the cotton and Côte d’Ivoire crises. Other natural resources include kaolin, salt, phosphate, and limestone.
Electricity and water are maintained by the Energie du Mali, or EDM, and textiles are generated by Industry Textile du Mali, or ITEMA. Mali has made efficient use of hydroelectricity, consisting of over half of Mali's electrical power. In 2002, 700 GWh of hydroelectric power were produced in Mali.
The Malian government participates in foreign involvement, concerning commerce and privatization. Mali underwent economic reform, beginning in 1988 by signing agreements with the World Bank and the International Monetary Fund. During 1988 to 1996, Mali's government largely reformed public enterprises. Since the agreement, sixteen enterprises were privatized, twelve partially privatized, and twenty liquidated.[39] In 2005, the Malian government conceded a railroad company to the Savage Corporation.Two major companies, Societé de Telecommunications du Mali (SOTELMA) and the Cotton Ginning Company (CMDT), are expected to be privatized in 2008.
Mali is a member of the Organization for the Harmonization of Business Law in Africa (OHADA).
Present-day Mali was once part of three West African empires that controlled trans-Saharan trade: the Ghana Empire, the Mali Empire (from which Mali is named), and the Songhai Empire. In the late 19th century, during the Scramble for Africa, France seized control of Mali making it a part of French Sudan. French Sudan (then known as the Sudanese Republic) joined with Senegal in 1959, achieving independence in 1960 as the Mali Federation. Shortly thereafter, following Senegal's withdrawal from the federation, the Sudanese Republic declared itself the independent Republic of Mali. After a long period of one-party rule, a 1991 coup led to the writing of a new constitution and the establishment of Mali as a democratic, multi-party state. On March 22, 2012, a group of junior soldiers seized control of the country's presidential palace and declared the government dissolved and its constitution suspended.
Economy of Mali
Mali is one of the poorest countries in the world. The average worker's annual salary is approximately US$1,500. Between 1992 and 1995, Mali implemented an economic adjustment program that resulted in economic growth and a reduction in financial imbalances. The program increased social and economic conditions, and led to Mali joining the World Trade Organization on 31 May 1995.The gross domestic product (GDP) has risen since. In 2002, the GDP amounted to US$3.4 billion, and increased to US$5.8 billion in 2005, which amounts to an approximately 17.6% annual growth rate.
Mali's key industry is agriculture. Cotton is the country's largest crop export and is exported west throughout Senegal and the Ivory Coast. During 2002, 620,000 tons of cotton were produced in Mali but cotton prices declined significantly in 2003. In addition to cotton, Mali produces rice, millet, corn, vegetables, tobacco, and tree crops. Gold, livestock and agriculture amount to eighty percent of Mali's exports. Eighty percent of Malian workers are employed in agriculture while fifteen percent work in the service sector. However, seasonal variations lead to regular temporary unemployment of agricultural workers. Mali's resource in livestock consists of millions of cattle, sheep, and goats. Approximately 40% of Mali's herds were lost during the Sahel drought in 1972–74.
In 1991, with the assistance of the International Development Association, Mali relaxed the enforcement of mining codes which led to renewed foreign interest and investment in the mining industry.[46] Gold is mined in the southern region and Mali has the third highest gold production in Africa (after South Africa and Ghana). The emergence of gold as Mali’s leading export product since 1999 has helped mitigate some of the negative impact of the cotton and Côte d’Ivoire crises. Other natural resources include kaolin, salt, phosphate, and limestone.
Electricity and water are maintained by the Energie du Mali, or EDM, and textiles are generated by Industry Textile du Mali, or ITEMA. Mali has made efficient use of hydroelectricity, consisting of over half of Mali's electrical power. In 2002, 700 GWh of hydroelectric power were produced in Mali.
The Malian government participates in foreign involvement, concerning commerce and privatization. Mali underwent economic reform, beginning in 1988 by signing agreements with the World Bank and the International Monetary Fund. During 1988 to 1996, Mali's government largely reformed public enterprises. Since the agreement, sixteen enterprises were privatized, twelve partially privatized, and twenty liquidated.[39] In 2005, the Malian government conceded a railroad company to the Savage Corporation.Two major companies, Societé de Telecommunications du Mali (SOTELMA) and the Cotton Ginning Company (CMDT), are expected to be privatized in 2008.
Mali is a member of the Organization for the Harmonization of Business Law in Africa (OHADA).
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