Mali and the International Monetary Fund  Mali joined the International Monetary Fund (IMF) on September 27, 1963. Since joining, Mali has been an active member of the Fund, having made 18 arrangements to borrow money since its membership began, primarily aimed at addressing stability and security issues in the country. Though Mali has had a steadily positive GDP growth rate since 2011 and a large amount of natural gold reserves, its economic and social fragility have caused developmental challenges as ethnic violence and terrorism weaken the government. The IMF projects that Mali will continue to have a GDP growth rate of around 5%, and a contained level of inflation, but warns that the situation could rapidly deteriorate without the implementation of programs for stability and resilience. The present IMF outlook for Mali's economic prospects tends negative due to their issues with internal poverty and strife. Mali is currently ranked as one of the world's poorest countries by the United Nations Development Programme, and their agriculture-heavy economy leaves them vulnerable to weather issues. Demographic issues have led to a uniquely unstable situation that has been exploited by militant groups, threatening the centralization and stability of the government. Corruption has also been an area of concern for the IMF. The Mali Empire was one of the richest in the world at the time, and its mineral wealth was renowned across the world. The rich gold deposits and trading centers, such Djenné and Timbuktu, gave it a strong position in western Africa. Though the empire was replaced by other nations such as the Songhai Empire and the Fulani Empire, the natural wealth of the region made it a trade center through to the 19th century. Ultimately, the Malian nations collapsed under internal religious pressures and external political influence from the French empire and they were integrated into French Sudan. During the colonial period, Mali served as a source of labor for the French West African colonies. Mali gained its independence in 1960, and moved to implement socialist policies designed in the style of the Soviet system at the time. This would not last long, however, and in 1968, a coup ensued and the new government moved to implement economic reforms. The Sahel drought and internal political struggles crippled the reforms however, and they were not able to achieve much success. The new government took control as a one-party state, and agreed to some structural adjustment economic reforms with the IMF. The austerity imposed by these reforms led to unrest, however, and by the 1990s the nation had transitioned to a new democratic state. Mali has been a heavy borrower from the IMF, currently owing about 238 million SDRs, the equivalent of around $327 million.