Islamic Republic of Mauritania and the IMF
IMF Managing Director Horst Köhler's Remarks in Mauritania
International Monetary Fund Managing Director Horst Köhler made the following statement on October 15, 2002, after a meeting with President Taya in Nouakchott:
"President Taya and I have had a very fruitful meeting today. Allow me to thank His Excellency for his warm welcome on this, my first, visit to Mauritania.
"Our discussions have revealed a shared understanding of Mauritania's accomplishments and of the challenges that lie ahead:
"His Excellency the President and I share the view that while a stable macroeconomic economic environment has benefited Mauritania—and remains a prerequisite for growth—major challenges remain, both to quicken the pace of sustainable growth and to reduce poverty. We have had the opportunity to discuss some of these challenges, including:
"I was struck by the commitment of the authorities to continue the course of opening up the economy and integrating it into the global economy. We agreed that advanced economies should make more rapid progress in opening their markets and in phasing out trade distorting subsidies. In this regard, we also agreed on the importance of ensuring that globalization works for all, including small, developing economies.
"The IMF stands ready to assist Mauritania in completing its reform agenda. We are confident that the authorities will meet these important future challenges and we wish you every success."
IMF EXTERNAL RELATIONS DEPARTMENT