The International Monetary Fund (IMF) announces in a statement that it has granted Mauritania $ 22.8 million under the extended credit facility agreement.
The move came after the IMF’s Executive Board finalized the fourth review of the IMF-Mauritania agreement under the facility, the Fund said in a statement seen by APA Thursday.
In its press release, the IMF said that Mauritania’s performance under this agreement remains solid and it also welcomes the implementation by the Mauritanian authorities of prudent policies and their progress in reforms, despite some delays.
The Bretton Woods institution noted that the country’s economic growth is expected to accelerate this year, driven by sustained activity in the extractive and non-extractive sectors and favorable terms of trade.
However, downside risks remain high even if the economic outlook is positive. This is due to the global slowdown, volatility in commodity prices and security threats in the Sahel, the IMF acknowledged.
Thus, it advocates the pursuit of political discipline, the implementation of structural reforms and the increase in priority social spending and infrastructure.
Such measures will be important for achieving more inclusive growth and reducing poverty and inequality, while strengthening macroeconomic stability and debt sustainability, the IMF concluded.
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