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

International Monetary Fund

No 2017/369, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Mauritania’s Request for a Three-Year Arrangement Under the Extended Credit Facility (ECF). The economic outlook is positive, but debt remains a concern. Near-term prospects are promising—supported by some improvement in the terms of trade, foreign direct investment in the extractive sector, planned structural reforms, and growth-enhancing public investment. Risks are balanced: on the upside, possible development of a recently discovered off-shore gas field could be a game-changer starting in 2021. On the downside, the economy remains highly vulnerable to lower metals prices, weather-related events, and regional security developments. The IMF staff supports the authorities’ request for the ECF arrangement.

Keywords: ISCR; CR; debt; terms-of-trade shock; expenditure prioritization; economy; increase exchange rate flexibility; wage bill; policy priority; reform momentum; Debt sustainability analysis; Public and publicly-guaranteed external debt; Global (search for similar items in EconPapers)
Pages: 94
Date: 2017-12-13
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