The Importance and Drivers of Stock-Flow Adjustments in Mali

Stock-flow adjustments—extra-budgetary and below-the-line operations that do not reflect standard spending and revenue—have added 9 percentage points to the debt-to-GDP ratio in Mali over the past decade.
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Volume/Issue: Volume 2023 Issue 058
Publication date: July 2023
ISBN: 9798400248764
$15.00
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Exports and Imports , Money and Monetary Policy , Public Finance , International - Economics , Inflation , monetary policy , WAEMU , monetary unions , policy rates , inflation forecasts , stock-flow adjustment , fiscal policy decision-making , debt-to-GDP ratio in Mali , debt database , headline deficit , Government debt management , Debt sustainability analysis , Sub-Saharan Africa , Global

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Summary

Stock-flow adjustments—extra-budgetary and below-the-line operations that do not reflect standard spending and revenue—have added 9 percentage points to the debt-to-GDP ratio in Mali over the past decade. That is just under a third of the total increase in public debt over that period. Despite their importance, there is little understanding of the causes of stock-flow adjustments. A number of actions could be taken to either reduce the occurrence of stock-flow adjustments or to increase transparency and monitoring which would assist fiscal policy decision-making.

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