Middle East and Central Asia > Mauritania, Islamic Republic of

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Diego Mesa Puyo, Zhiyong An, Thomas Benninger, and Nate Vernon
Mauritania requested capacity development from the Fiscal Affairs Department on carbon taxation, fossil fuel pricing and fiscal aspects of hydrogen development. This is a high-level summary of the technical assistant and the recommendations provided to the authorities. The report assesses options to gradually introduce a carbon tax to bring the country in line with its Nationally Determined Contribution for 2030 and net-zero pledge for 2050, including targeted support for vulnerable households. It then reviews approach to price fossil fuel products and proposes a revised methodology better aligned with international petroleum markets, along with a fiscally neutral smoothing mechanism to mitigate the impact of abrupt price changes on Mauritanian consumers. Finally, the report evaluates fiscal aspects related to the development of the low and zero-emissions hydrogen to ensure the country continues to position itself as an attractive investment destination without foregoing future revenue streams.
International Monetary Fund. Middle East and Central Asia Dept.
This paper highlights Islamic Republic of Mauritania’s First Reviews under the Arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF), Requests for Modification of Performance Criteria and a Waiver of Nonobservance of Performance Criterion, and Request for an Arrangement under the Resilience and Sustainability Facility (RSF). Mauritania’s economic reform program supported by the IMF ECF/EFF arrangements aims to preserve macroeconomic stability, strengthen the fiscal and monetary policy frameworks, consolidate the foundations for sustainable, inclusive growth, and reduce poverty. Economic performance in 2022 has been positive, with robust real gross domestic product growth, decreasing inflation, and a narrowing current account deficit. Still, challenges related to infrastructure, governance, vulnerability to economic shocks and limited economic diversification constrain Mauritania’s economic development. The RSF arrangement will help build resilience to climate change and strengthen the policy framework to maximize synergies with other official financing and catalyze private financing. The RSF arrangement will support Mauritania’s efforts to strengthen its resilience to climate shocks, enhance its capacity to protect the vulnerable against climate shocks, and expedite the transition toward cleaner energy sources.
International Monetary Fund. Fiscal Affairs Dept., International Monetary Fund. Legal Dept., International Monetary Fund. Monetary and Capital Markets Department, and International Monetary Fund. Finance Dept.
À la demande des autorités de la République islamique de Mauritanie (la « Mauritanie »), une mission interdépartementale (département juridique/département des finances publiques/département monétaire et des marchés de capitaux/département financier) d’évaluation diagnostique de la gouvernance (« EDG ») a été effectuée du 6 décembre 2021 au 3 juin 2022. Conformément au cadre pour un renforcement de l’action du FMI en matière de gouvernance (2018)1, l’évaluation diagnostique a porté sur les faiblesses de la gouvernance et les vulnérabilités à la corruption (L’on utilisera le terme défis de gouvernance pour le reste du document) dans les domaines prioritaires et macro-critiques suivants : i) la gouvernance et les opérations de la banque centrale ; ii) la surveillance du secteur financier ; iii) la lutte contre le blanchiment de capitaux et le financement du terrorisme (LBC/FT) ; iv) la gouvernance budgétaire (par exemple, la gestion des finances publiques, l’administration des recettes (y compris douanières), la gestion des ressources naturelles, les marchés publics et l’audit) ; v) l’exécution des contrats et la protection des droits de propriété, et ; vi) les cadres juridiques et institutionnels, ainsi que les stratégies de LCC.