Government Spokesman: The State is Open to All Legitimate and Lawful Demands

The Minister of Culture, Arts, Communication and Relations with Parliament, Government Spokesman, Mr. Houssein Ould Medou, stressed that the state is open to all legitimate and legitimate demanders, and is ready to deal with them, indicating that the stage is a stage of advocacy and justice for the oppressed.

This came in response to questions from some journalists during his response to the results of the cabinet meeting, Wednesday evening at the pronouncement hall of the headquarters of the Mauritanian News Agency in Nouakchott, accompanied by the Minister of Economy and Finance,  Hydraulics and Sanitation, adding that anyone who believes that he has been wronged or harmed by an administrative procedure must submit a complaint to the concerned authorities, administrative or judicial, for redress.

For his part, Minister of Economy and Finance Sid’ Ahmed Bouh explained that the draft law on the legislative framework for secured bonds aims to support financial stability by enabling Mauritanian loan institutions to diversify their sources of financing in the short, medium and long term.He added that the secured bonds will be supported by a portfolio of assets consisting of two categories (first class assets and additional supplementary assets) to raise the risk and fear of investors in insured bonds of losing their rights in the event of the appointment of a temporary management of the institution or its judicial liquidation.

The draft law defines insured bonds and regulates the conditions for their issuance and circulation, as bonds will be issued by accredited loan institutions under the supervision of the country’s first monetary authority, in order to enable these institutions to raise liquidity to refinance their activities and offer legally recognized and fortified debt instruments on the market.

He explained that the mechanism that will be adopted to fortify bonds is that they are supported by a loan portfolio of real estate bonds at least 80% for companies, in addition to another reason that the minimum portfolio of assets guaranteeing bonds cannot legally be less than 110%, which would allow the recovery of capital and interest in stable cases in these secured bonds.

For her part, the Minister of Hydraulics and Sanitation, Mrs. Amal Mint Maouloud, spoke about the reasons for the water shortage these days at the level of the capital, Nouakchott, due to emergency climatic reasons that led to the rise of silt (sediment remaining in the depths of water that clog pipes), which usually occurs at this time of the year as a result of rainfall, as it often begins at the end of July and reaches its peak in mid-August and ends or eases in September.

She stressed that the government took a number of measures last year to confront this phenomenon, some in the near term as a temporary solution, and another in the medium term as a final solution, noting that the sector has taken two decisions to increase production during this period, the first of which is to increase the production of the Idini station, and this project has reached the tender stage, but it requires 22 months to complete, and the second decision is related to increasing production from the river, which the government is working to mobilize financial resources for.

She added that the ministry is seeking, in addition to the previous measures, to achieve an ambitious desalination project to increase production capacity so that the country is able to overcome the consequences of these climatic phenomena, stressing that the sector, pending reaching these goals, is currently working to rationalize the existing water and distribute it fairly among the capital’s neighborhoods, giving priority to fragile ones.