Islamic Republic of Mauritania: Second Review Under the Staff Monitored Program and Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility

IMF Staff Country Reports, February 2, 2007

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Canonical URL: Islamic Republic of Mauritania: Second Review Under the Staff Monitored Program and Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility

The paper discusses key findings of the Second Review Under the Staff Monitored Program (SMP) for Mauritania.
Mauritania’s performance since the beginning of 2006 has been fully satisfactory.
All quantitative targets and structural benchmarks under the SMP that covered the first six months of 2006 were observed.
Sound macroeconomic policies reined in inflation and contributed to the elimination of the parallel foreign exchange market premium.
The proposed Poverty Reduction and Growth Facility (PRGF)-supported program will consolidate the progress achieved during the SMP toward macroeconomic stabilization.

Macroeconomic stabilization:
- Inflation was reined in through sound macroeconomic policies.
- The parallel foreign exchange market premium was eliminated.
Program compliance:
- Full observance of all quantitative targets and structural benchmarks covering the first six months of 2006.
Program transition:
- A proposed PRGF-supported program aims to consolidate SMP achievements.

Subjects: Commodities; Expenditure; Fiscal stance; Oil; Oil, gas and mining taxes; Poverty; Poverty reduction; Poverty reduction strategy; Taxes
Keywords: budget ordinance; CR; EU budget; gas and mining taxes; government; government revenue projection; ISCR; Oil; Poverty reduction; Poverty reduction strategy; staff appraisal; transition authorities; West Africa