Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for business professionals · Friday, March 29, 2024 · 699,679,425 Articles · 3+ Million Readers

Islamic Republic of Mauritania : Three-Year Arrangement under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Islamic Republic of Mauritania

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

December 13, 2017

Electronic Access:

Link to Table of Contents

Summary:

Mauritania is addressing decisively the aftermath of the terms-of-trade shock which slowed growth and widened imbalances. Following the sharp drop in iron ore prices in 2014–15 which halved export revenues, widened imbalances, and exposed financial vulnerabilities, the authorities cut the budget deficit by close to 5 percent of NEGDP in 2016–17, allowed the exchange rate to depreciate, and mobilized foreign grants and loans. These efforts succeeded in restoring macroeconomic stability and levelling off debt to 69 percent of GDP, while growth rebounded. In parallel, the authorities prepared an inclusive growth strategy covering 2017–30, including structural reforms and sizable foreign-financed infrastructure investment to support growth and diversification. Poverty, however, remains widespread at about 31 percent of the population.

Powered by EIN Presswire


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release