The Executive Board of the International Monetary Fund (IMF) has completed several reviews of its ongoing programmes with Mauritania, paving the way for the immediate disbursement of around $91 million.
In a statement released in Washington, the IMF said its Board had concluded the fifth reviews under the 42-month Extended Credit Facility (ECF) and Extended Fund Facility (EFF) arrangements, as well as the fourth review under the Resilience and Sustainability Facility (RSF).
The programmes were initially approved in January 2023 for the ECF and EFF, and in December 2023 for the RSF. Their successful completion allows for the immediate release of 65.88 million Special Drawing Rights (SDRs), equivalent to about $91 million, or nearly €84 million. This amount includes SDR 6.44 million under the ECF/EFF and SDR 59.44 million under the RSF.
Total IMF disbursements to Mauritania now stand at SDR 191.8 million, or roughly $258 million, corresponding to about €237 million.
According to the IMF, Mauritania’s economy recorded robust growth of 6.3% in 2024, with a slowdown to 4.2% projected for 2025. The deceleration is attributed to a contraction in the extractive sector, despite continued momentum in non-extractive activities. Over the medium term, prospects remain “favourable,” supported by public investment in infrastructure and stronger private sector participation, although global uncertainties and rising regional security risks persist.
The Fund noted that programme performance remains on track. All quantitative targets set for end-June 2025 were met, and most of the structural benchmarks under the ECF/EFF arrangements have been implemented. Reforms under the RSF are also advancing, albeit at a more gradual pace.
Commenting on the outcome of the reviews, IMF Deputy Managing Director Kenji Okamura praised the resilience of the Mauritanian economy, underpinned by “prudent and well-calibrated” policies. He highlighted sound fiscal management, including the adoption and institutionalisation of a fiscal anchor, which has helped stabilise debt and is expected to reduce the current account deficit in 2025, while international reserves remain at what the IMF considers adequate levels.
MK/AK/Sf/lb/as/APA