Islamic Republic of Mauritania: Sixth Review Under the Three Year Extended Credit Facility Arrangement and Request of Nonobservance of Performance Criterion—Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Islamic Republic of Mauritania

International Monetary Fund

No 2013/188, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses the Islamic Republic of Mauritania’s Sixth Review under the Three-Year Extended Credit Facility Arrangement and Request of Nonobservance of Performance Criterion. Mauritania’s current account deficit has been significantly widened due to higher infrastructure and mining-related imports. Planned projects are concentrated in agriculture, energy, and infrastructure—all three sectors with large investment needs and in line with Poverty Reduction Strategy Paper priorities. Nonrenewable resources are playing an important role in the economy, but the fiscal policy formulation does not incorporate the challenges associated with resource revenue exhaustibility and volatility and, therefore, does not prevent pro-cyclical fiscal policy.

Keywords: ISCR; CR; executive board discussion; government; deficit; GDP; FDI; monetary policy effectiveness; fiscal policy formulation; challenges Mauritania; year-end inflation; Mining sector; Credit; Imports; Global; Sub-Saharan Africa; Europe (search for similar items in EconPapers)
Pages: 68
Date: 2013-07-02
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