The Sudanese Republic and Senegal became independent of France in 1960 as the Mali Federation. When Senegal withdrew after only a few months, the Sudanese Republic was renamed Mali. Rule by dictatorship was brought to a close in 1991 with a transitional government, and in 1992 when Mali's first democratic presidential election was held. In 1999 he indicated he would not run for a third term. Economic activity is largely confined to the riverine area irrigated by the Niger.
Industrial activity is concentrated on processing farm commodities.
Mali is heavily dependent on foreign aid and vulnerable to fluctuations in world prices for cotton, its main export. In 1997, the government continued its successful implementation of an IMF-recommended structural adjustment program that is helping the economy grow, diversify, and attract foreign investment.