IMF Executive Board Approves Augmentation and US$28.7 million Disbursement to Mauritania

Nouakchott, 3 September 2020 (AMI)- Today, the Executive Board of the International Monetary Fund (IMF) completed the fifth review under the three-year Extended Credit Facility (ECF) arrangement for Mauritania. After today’s review, the IMF Executive Board also approved an augmentation of US$28.7 million to help the country cope with the challenging repercussions of the COVID-19 pandemic.
Following the Executive Board discussion, Mr. Mitsuhiro Furusawa, Deputy Managing Director and Acting Chair, stressed that the COVID-19 pandemic continues to impose severe human, economic and social hardships in Mauritania. In this regard, the intervention of the IMF came to ease the economic hardships and difficulties that Mauritanians faces daily.
The Deputy Managing Director has also praised the significant role played by the Mauritanian government in such trying circumstances. He said that the authorities are leading prudent economic policies and advancing with reforms to ensure macroeconomic stability, promote a comprehensive recovery, and reduce inequalities and poverty.