Mauritania receives $22.8mn from International Monetary Fund

The International Monetary Fund has announced in a statement that it had granted Mauritania a large amount of USD 22.8 million as part of the agreement on the enlarged credit facility.

The decision was taken after the Executive Board of the International Monetary Fund completed the 4^th review of the agreement between the Fund and Mauritania as part of this facility, APA news revealed the statement.

In its statement, the International Monetary Fund reports that the performance of Mauritania under this agreement remains strong and welcomes the implementation by the Mauritanian authorities of prudent policies and their progress in the reforms in Mauritania. despite some delays.

Mauritania's economic growth is likely to enhance this year, driven by sustained activity in the extractive and non-extractive sectors and favorable terms of trade, according to the Bretton Woods Institutions. But the downside risks remain high even if the economic outlook is positive. This is due to the global slowdown, volatility of commodity prices and security threats in the Sahel, the International Monetary Fund acknowledged.

Thus, it advocates the pursuit of political discipline, the implementation of structural reforms and the increase of social spending and priority infrastructure. Such measures will be important for achieving more inclusive growth and reducing poverty and inequality, while strengthening macroeconomic stability and debt sustainability, the International Monetary Fund added.