Executive Board has approved 42-month arrangements under the Extended Fund Facility and the Extended Credit Facility for Mauritania, for an amount of $86.9 million.The board’s decision allows for an immediate disbursement of $21.7 million.

The Mauritanian authorities’ reform program, supported by the IMF, includes a series of measures aimed at preserving macroeconomic stability, strengthening the fiscal and monetary policy frameworks, and improving governance to consolidate the foundations for sustainable and inclusive growth and reduce poverty.

Mauritania’s economic growth accelerated in 2022, driven mainly by the extractive sectors.

Inflation should stabilize at around 11% reflecting the restrictive monetary policy pursued by the Central Bank of Mauritania.

Mauritania’s economic reform program, supported by agreements with the IMF, aims to preserve macroeconomic stability, strengthen fiscal and monetary policy frameworks, consolidate the foundations for sustainable and inclusive growth, and reduce poverty

. Following the deliberations of the Board of Directors, Mr. Kenji Okamura, the Deputy Managing Director and Acting President, said: “A resolute response to the COVID-19 pandemic and substantial international financial support have placed Mauritania on the path to the comeback. Thanks to judicious measures, donor support, and the favorable price of iron ore, international reserves have accumulated and the fiscal balance has recorded a surplus”.