Event Four:
Map of Mali in comparison to Africa as a whole.
During 1981, in Mali, 85% of outstanding bank credit was extended to state enterprises. Meaning, that the bank credit was paying a real rate of zero percent interest. Nine and a half was the nominal rate, which was equal to the inflation rate.
In Segengal, at the same time, there was twenty-seven companies that were operated completely by the state. Also seventy-five quasi-public businesses. Each quasi-public corporation employed twenty-five thousand people. Meaning tha it used four times the manpower needed to run the enterprises. A quasi-public concern is a privately owned company with some government back-up assistance.