IMF forecasts 5% growth in Mali, boosted by lithium

Dakar: The International Monetary Fund forecast economic growth of five percent for Mali in 2025, partly driven by new lithium production, despite con...

Dakar: The International Monetary Fund forecast economic growth of five percent for Mali in 2025, partly driven by new lithium production, despite conflict, floods and declining foreign aid.

Mali has been ruled by a military junta following two coups earlier this decade and is mired in violence carried out by jihadist groups affiliated with Al-Qaeda and the Islamic State group.

An IMF mission to Bamako noted its economy "has shown some resilience despite significant headwinds", in a statement released late Thursday.

It said economic growth is expected to reach five percent in 2025 thanks to "strong agricultural production, the start of lithium extraction and continued growth in services".

The agricultural sector employs nearly 80 percent of the working population and contributes to nearly 40 percent of GDP, according to official figures.