The International Monetary Fund (IMF) disburses Immediate Payment of $47.4 Million to Mauritania
Washington
According to a statement issued by the IMF on Wednesday, an immediate payment of 36.16 units of account, equivalent to about $47.4 million is disbursed to Mauritania.
The disbursement comes after the IMF’s Executive Board concluded the 2024 Article IV consultations with Mauritania, as well as the third review of the Extended Credit Facility (ECF) and Extended Support Mechanism (ESM) arrangements, and the second review under the Resilience and Sustainability Facility (RSF) agreement with Mauritania.
The statement stated that the Mauritanian economy has managed to remain solid, although economic growth is expected to slow to 4.6% in 2024.
Growth is expected to remain favorable in the medium term, and private sector-led inclusive growth will be supported by enhanced revenue mobilization, strengthened banking supervision and support for the implementation of the government’s action plan to strengthen governance.
Mr. Kenji Okamura, Deputy Director-General and Acting President of the Board, in a statement following the conclusion of the Board, emphasized: “Supported by sound policies, the Mauritanian economy continued to grow in 2024, inflation remained under control, and fiscal performance was in line with the medium-term external debt reduction target. Prudent monetary and fiscal policies supported strong program performance. The authorities have also focused on strengthening policy frameworks, reinforcing economic rigidity, accelerating inclusive growth, and mitigating the challenges posed by climate change.
The Fund’s Executive Directors welcomed the Mauritanian authorities’ commitment and the strong program performance, supported by prudent monetary and fiscal policies. Directors emphasized that the outlook, while positive, is subject to significant risks, including security risks in the Sahel and climate shocks.
The Executive Directors stressed the need for continued commitment to maintaining macroeconomic stability, strengthening policy frameworks, and advancing reforms to promote sustainable and inclusive growth.