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:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

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.

Series:

Country Report No. 17/369

Subject:

English

Publication Date:

December 13, 2017

ISBN/ISSN:

9781484332429/1934-7685

Stock No:

1MRTEA2017002

Format:

Paper

Pages:

94

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