Islamic Republic of Mauritania: Sixth Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for the Islamic Republic of Mauritania

March 11, 2021

Preview Citation

Format: Chicago

Islamic Republic of Mauritania: Sixth Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for the Islamic Republic of Mauritania, (USA: International Monetary Fund, 2021) accessed September 21, 2024

Also available in: français

Summary

The COVID-19 pandemic is having a severe human, economic, and social impact on Mauritania. The economy is estimated to have contracted by about 2 percent in 2020 and the crisis generated large financing needs. The authorities responded swiftly to mitigate the impact of the pandemic while international partners provided grants, loans, and debt service suspension. This, compounded by higher commodity exports (iron ore and gold) and some delays in emergency spending, resulted in unexpected fiscal surpluses and an accumulation of international reserves, which may now be used to support the recovery in 2021–22. The outlook remains highly uncertain and dependent on volatile commodity markets, with sizable downside risks in case new waves of the pandemic spill over into Mauritania.

Subject: COVID-19, Debt service, External debt, Fiscal stance, Public debt

Keywords: CR, Debt service suspension, ECF arrangement, Higher-than-anticipated financing, ISCR, Poverty-reducing expenditure, Successor ECF

Publication Details

Pages:

91
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2021/052
Stock No:

1MRTEA2021001
ISBN:

9781513573854
ISSN:

1934-7685

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