In Mali's current context where the crops sector is particularly exposed and vulnerable to agricultural drought, this study assesses the economy-wide impacts of such events and the potential effectiveness of some adaptation strategies. Using a dynamic computable general equilibrium model, we conduct counterfactual simulations of various scenarios accounting for different levels of intensity and frequency of droughts over a 15-year period. We first show how mild, moderate, and intense droughts currently experienced by the country affect its economic performances and considerably degrade its households' welfare. We also show how these negative impacts could be aggravated in the future by the likely increased number of intense droughts threatened by global climate change. However, we finally show that there appears to be some room for Mali to manoeuvre in terms of drought-risk management policies, such as fostering the use of drought-tolerant crop varieties, improving drought early warning systems or extending irrigation capacities. 4 mainly in the Southern Sudanic zone and the inlet delta of the river Niger. It is also poorly diversified (see Table 1). Cash-crop cultivates focus on cotton and rice. Subsistence crop production, by far the most important sector, is mainly devoted to millet, rice, sorghum, and maize, which represent nearly 80% of total production and are the basic staples of the Malian diet. But with its rain-fed, small-scale, traditional farming techniques, this subsistence sector provides particularly low yields. The livestock sector, which includes millions of cattle, sheep, and goats, is also of key importance, accounting for 14% of Malian GDP. But most of this sector relies on small-scale, nomadic, pastoral systems with a low average rate of herd utilization and low productivity levels. In this context, living conditions of the fast-growing Malian population are particularly poor. Although Mali experienced an overall drop in poverty in the 2000s, it remains endemic, especially in rural areas, where 77% of the overall population lives and which contribute 90% to the national poverty rate. These rural areas are also affected by chronic malnutrition representing 84% of the overall malnourished population of the country (Eozenou et al., 2013).