Narrow Your Choices

Refine By Topic

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Middle East and Central Asia > Mauritania, Islamic Republic of

You are looking at 1 - 10 of 33 items for :

  • Type: Journal Issue x
  • Banks and banking x
Clear All Modify Search
Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Fifth Review Under the Extended Credit Facility Arrangement, and Request for Augmentation of Access-Press Release; Staff Report; and Statement by the Executive Director for the Islamic Republic of Mauritania
International Monetary Fund. Middle East and Central Asia Dept.
The COVID-19 pandemic continues to impose severe social and economic hardships in Mauritania, with a sharp contraction of output expected in 2020. The authorities have responded swiftly to the shock with measures to contain the pandemic and alleviate its fallout. They are prioritizing health spending and targeted support to the most vulnerable households and sectors in the economy. Nevertheless, conditions have weakened since the emergency disbursement under the Rapid Credit Facility in April 2020 (SDR 95.68 million, about US$130 million or 74.3 percent of quota) and wider external and fiscal financing gaps are projected.
Keywords:
ISCR; CR; SDR; IMF's executive board; response plan; debt; authority
Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Fifth Review Under the Extended Credit Facility Arrangement, and Request for Augmentation of Access-Press Release; Staff Report; and Statement by the Executive Director for the Islamic Republic of Mauritania
International Monetary Fund. Middle East and Central Asia Dept.
The COVID-19 pandemic continues to impose severe social and economic hardships in Mauritania, with a sharp contraction of output expected in 2020. The authorities have responded swiftly to the shock with measures to contain the pandemic and alleviate its fallout. They are prioritizing health spending and targeted support to the most vulnerable households and sectors in the economy. Nevertheless, conditions have weakened since the emergency disbursement under the Rapid Credit Facility in April 2020 (SDR 95.68 million, about US$130 million or 74.3 percent of quota) and wider external and fiscal financing gaps are projected.
Keywords:
ISCR; CR; SDR; IMF's executive board; response plan; debt; authority; financing gap; key interest rate; IMF's support; COVID-19; Credit; Fiscal stance; Global
Cover IMF Working Papers
The Role of Board Oversight in Central Bank Governance: Key Legal Design Issues
Wouter Bossu
and
Arthur D. P. Rossi
This paper discusses key legal issues in the design of Board Oversight in central banks. Central banks are complex and sophisticated organizations that are challenging to manage. While most economic literature focuses on decision-making in the context of monetary policy formulation, this paper focuses on the Board oversight of central banks—a central feature of sound governance. This form of oversight is the decision-making responsibility through which an internal body of the central bank—the Oversight Board—ensures that the central bank is well-managed. First, the paper will contextualize the role of Board oversight into the broader legal structure for central bank governance by considering this form of oversight as one of the core decision-making responsibilities of central banks. Secondly, the paper will focus on a number of important legal design issues for Board Oversight, by contrasting the current practices of the IMF membership’s 174 central banks with staff’s advisory practice developed over the past 50 years.
Keywords:
WP; executive management; decision-making responsibility; Board oversight; Oversight responsibility; central bank law; public policy; boards of directors; central bank official; central bank law provision; central bank Decision-making; central bank governance; central bank decision-making structures; central bank Decision-Making responsibility; Central bank legislation; Legal support in revenue administration; Central bank organization; Central bank governance; Central bank mandate; Africa; Global
Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Third Review Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for the Islamic Republic of Mauritania
International Monetary Fund. Middle East and Central Asia Dept.
Program implementation continued to be satisfactory despite a somewhat less favorable external environment in 2018. Macroeconomic stability was maintained, external debt to GDP declined, official reserves rose, and some fiscal space was created by strong revenue performance and exceptional extractive proceeds, albeit also by under-execution of public investment. Structural reform implementation progressed as planned. The economic outlook has improved, buoyed by more favorable terms of trade and the upcoming development of a large offshore gas field. Growth is projected to accelerate to 6¾ percent this year, supported by a recovery in extractive sectors and continued broad-based non-extractive growth reflecting strong domestic demand and budding diversification. Downside risks related to global economic developments, commodity price volatility, and regional security concerns remain elevated.
Keywords:
ISCR; CR; government; GDP; real GDP; price
Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Third Review Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for the Islamic Republic of Mauritania
International Monetary Fund. Middle East and Central Asia Dept.
This paper discusses Islamic Republic of Mauritania’s Third Review of Arrangement under the Extended Credit Facility. The program aims at entrenching macroeconomic stability, supporting inclusive and job creating growth, and building international reserve buffers. The authorities plan to use the prospective fiscal space prudently for priority social spending—education, health, and social protection—and public infrastructure. The economic outlook has improved, buoyed by more favorable terms of trade and the upcoming development of a large offshore gas field. Growth is projected to accelerate to 6 3/4 percent this year, supported by a recovery in extractive sectors and continued broad-based non-extractive growth reflecting strong domestic demand and budding diversification. Downside risks related to global economic developments, commodity price volatility, and regional security concerns remain elevated. Considerable challenges remain to entrench macroeconomic stability, support inclusive growth, and build resilience to shocks. The prospective fiscal space should be used prudently for priority social policies and public infrastructure.
Keywords:
ISCR; CR; government; GDP; real GDP; price; government action; Mauritania's performance; authorities' effort; hydrocarbon revenue fund; Board's support; windfall gas revenue; Fiscal stance; Credit; Debt sustainability analysis; Global
Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Technical Assistance Report-Report on the External Sector Statistics Technical Assistance Mission (March 19-30, 2018)
International Monetary Fund. Statistics Dept.
With the support of the IMF’s Middle East and Central Asia Department (MCD), and at the request of the Central Bank of Mauritania (BCM), the IMF’s Statistics Department (STA) mission visited Nouakchott from March 19–30, 2018, to provide technical assistance (TA) in the area of external sector statistics (ESS). This mission is part of an initiative financed by the Financial Sector Stability Fund (FSSF): Balance Sheet Approach (BSA) Sub-Module. This intersectoral effort will enable the production of more reliable BSA matrices to support macroprudential policies, the country’s financial stability analysis, and the IMF’s surveillance missions. The mission’s key objectives were to work closely with the BCM in order to (i) improve the compilation of the balance of payments (BOP), and (ii) propose a framework for compiling the international investment position (IIP). Based on the findings and recommendations of the last TA mission on external sector statistics (ESS) carried out at the BCM in October 2016, this mission notes the need to improve the quality of most items in the BOP, particularly the financial account, which could also aid IIP compilation efforts in the near future.
Keywords:
ISCR; CR; balance of payments; BOP team; compilation framework; IIP component; BOP framework; BOP transaction; BOP system; Foreign direct investment; Operational risk; External sector statistics; Commercial banks; International investment position
Cover IMF Staff Country Reports
Islamic Republic of Mauritania: First Review Under the Extended Credit Facility Arrangement-Press Release; and Staff Report
International Monetary Fund. Middle East and Central Asia Dept.
This paper discusses Mauritania’s First Review Under the Extended Credit Facility (ECF) Arrangement. The outlook is positive, although considerable challenges remain to achieve high and inclusive growth. Vulnerabilities remain elevated and sustained reforms are needed to entrench macroeconomic stability; achieve inclusive growth that creates employment and reduces poverty; and improve the business climate and governance. Policy implementation has been satisfactory and the program is on track. All end-December 2017 performance criteria and eight of the ten structural benchmarks for December 2017–March 2018 were met; the remaining two were implemented with a one-month delay. The IMF staff recommends completion of the first review under the three-year ECF arrangement.
Keywords:
ISCR; CR; price; government; SDR; balance; commodity price development; reform implementation; extractive GDP; Mauritanian authorities; Excl. FDI-financed import; Policy implementation; Credit; Fiscal stance; Global
Cover IMF Working Papers
Measuring and Mending Monetary Policy Effectiveness Under Capital Account Restrictions: Lessons from Mauritania
Mr. Robert Blotevogel
I propose a new approach to identifying exogenous monetary policy shocks in low-income countries with capital account restrictions. In the case of Mauritania, a domestic repatriation requirement is the key institutional characteristic that allows me to establish exogeneity. Unlike in advanced countries, I find no evidence for a statistically significant impact of exogenous monetary policy shocks on bank lending. Using a unique bank-level dataset on monthly balance sheets of six Mauritanian banks over the period 2006–11, I estimate structural vector autoregressions and two-stage least square panel models to demonstrate the ineffectiveness of monetary policy. Finally, I discuss how a reduction in banks’ loan concentration ratios and improvements in the liquidity management framework could make monetary stimuli more effective.
Keywords:
WP; bank lending; central bank; bank reserves; refinancing possibility; monetary policy effectiveness; exogenous monetary policy shocks; capital account restrictions; low-income countries; liquidity management; loan concentration; monetary policy shock; fish export; balance sheet equity; liquidity position; private-sector credit; transmission mechanism; banks' holding; loan portfolio; excess reserves; risk management capability; Credit; Bank credit; Agroindustries; Exports; Loans; Global
Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Fifth Review Under the three-Year Extended Credit Facility Arrangement, Requests for Modification of Performance Criteria and Extension of the Arrangement—Staff Report and Press Release
International Monetary Fund. Middle East and Central Asia Dept.
Mauritania successfully weathered several exogenous shocks during 2011–12. Political upheaval in neighboring countries has not had detrimental economic effects so far, but political uncertainty remains high. Resilient growth and a continued buildup of external and fiscal buffers characterize better-than-expected macroeconomic developments. Ambitious structural reforms are vital for generating broad-based inclusive growth, promoting employment, and reducing poverty. The authorities will continue to improve transparency and economic statistics. Policy actions laid the foundation for a sound macroeconomic performance, although important challenges and vulnerabilities remain.
Keywords:
ISCR; CR; SDR; government; GDP; exchange rate; price; procurement code; foreign exchange; current account; monetary policy; private sector; Credit; Loans; Nonperforming loans; Global
Cover IMF Staff Country Reports
Mauritanie: Questions choisies
International Monetary Fund
Depuis plusieurs années, le FMI publie un nombre croissant de rapports et autres documents couvrant l'évolution et les tendances économiques et financières dans les pays membres. Chaque rapport, rédigé par une équipe des services du FMI à la suite d'entretiens avec des représentants des autorités, est publié avec l'accord du pays concerné.
Keywords:
ISCR; CR; Mauritania; bank