Islamic Republic of Mauritania: Second Review Under the Extended Credit Facility Arrangement, and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Islamic Republic of Mauritania

December 13, 2018

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Format: Chicago

Islamic Republic of Mauritania: Second Review Under the Extended Credit Facility Arrangement, and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Islamic Republic of Mauritania, (USA: International Monetary Fund, 2018) accessed November 23, 2024

Also available in: français

Summary

Program implementation has been satisfactory. Macroeconomic stability has been maintained, external debt has been stabilized, and several reforms have been launched to modernize economic institutions and the policy framework. Growth is expected to accelerate this year to 3½ percent, supported by FDI and public investment. While the outlook is positive owing to sustained growth in non-extractive sectors, the international environment is less favorable than during the first review. Higher oil import prices and lower commodity export prices weigh on the external and fiscal positions; the economy remains dependent on commodity exports; and debt vulnerabilities and poverty remain high. Downside risks related to global economic developments and regional security are elevated. On the upside, development of the offshore gas field could generate large revenues from 2022 despite short-term costs.

Subject: Debt sustainability analysis, External debt, Financial regulation and supervision, International organization, Monetary policy, Oil prices, Operational risk, Prices, Public debt

Keywords: Commodity export price, Debt sustainability analysis, Executive board discussion, Expenditure prioritization, Gas windfall revenue, Global, GTA project, Oil prices, Operational risk, Policy implementation

Publication Details

Pages:

107
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/365
Stock No:

1MRTEA2018004
ISBN:

9781484389980
ISSN:

1934-7685

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