Middle East and Central Asia > Mauritania, Islamic Republic of

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International Monetary Fund. Middle East and Central Asia Dept.
This Selected Issues paper analyzes key trends in the country’s existing financial sector and finds that while the Mauritanian banking sector is highly profitable, it fails to facilitate broader financial services and access, resulting in limited contribution to economic growth and inclusion. It also identifies the prevalence of family-owned banks, lack of trust, weak governance, and insufficient institutions as the major factors leading to these macro-level outcomes and discusses policies to address them and enhance financial sector development and boost inclusion. From a financial sector development perspective, Mauritania would be better off with a consolidated banking sector with stronger, more resilient institutions. Fewer universal banks with robust provisioning frameworks are better equipped to manage credit risks, thereby increasing their capacity to lend to a broader range of private-sector actors. From the institutional perspective, existing financial infrastructure institutions need to be strengthened and new ones need to be established. Forceful banking supervision with strong information systems can effectively monitor and mitigate connected lending practices among many family-owned banks.
International Monetary Fund. African Dept.
This Selected Issues paper presents stylized facts about food insecurity in Nigeria, investigates its drivers in a cross-country setting, and assesses the role of policies. The paper describes regional aspects of Nigeria’s food insecurity and compares the impact of coronavirus disease 2019 and the war in Ukraine on food security in Nigeria and other countries. It also provides an overview of agricultural production and consumption in Nigeria. The paper investigates the drivers of food security using an empirical cross-country framework including demand, supply, and price factors, and offers thoughts on policies to improve agricultural yields and production. The important role of inputs is evident in the policy experience of comparator countries. Nigeria has achieved a substantial increase in agricultural production associated with its policies but some have been less successful. Import dependency for key staples has not fallen and the cost of these agricultural products remains driven by international prices. Further, central bank credit to the agricultural sector has not succeeded in increasing production beyond the stimulus of high rainfall and high food prices.
International Monetary Fund. African Dept.
Union économique et monétaire ouest-africaine : questions générales
International Monetary Fund. African Dept.
This paper presents stylized facts on the quantitative and qualitative infrastructure gap in the West African Economic and Monetary Union (WAEMU), estimates the efficiency of public investment, and recommends how to improve it. The WAEMU countries face an important common challenge of creating sufficient fiscal space to finance ambitious growth, development, and poverty-reduction programs in individual countries. This paper also provides comparative evidence of the situation of WAEMU in several areas of financial development relative to groups of benchmark countries. The state of inclusion in the WAEMU along three dimensions—poverty, income inequality, and gender inequality—is also examined in this paper.
Ms. Anna Kochanova
and
Carlos Caceres
This paper analyzes the linkages between governance quality and country stress events. It focuses on two types of events: fiscal and political stress events, for which two innovative stress indicators are introduced. The results suggest that weaker governance quality is associated with a higher incidence of both fiscal and political stress events. In particular, internal accountability, which measures the responsiveness of governments to improving the quality of the bureaucracy, public service provision, and respect for the institutional framework in place, is positively associated with fiscal stress events. However, external accountability, which captures government accountability before the public in general, through elections and the democratic process, seems to be more important for political stress events. These results hold when using balanced country samples where region, oil-exporter status, income level, and time are taken into account.
International Monetary Fund. External Relations Dept.
Turbulences sur les marchés financiers ; Strauss-Kahn prend la tête du FMI ; réchauffement climatique ; intégration financière en Europe ; finance islamique ; vulnérabilité des marchés émergents ; leçons de la crise des subprimes ; intégration du Maghreb ; gestion des finances publiques dans les pays producteurs de pétrole ; point sur l'actualité.
International Monetary Fund. External Relations Dept.
Turbulencias del mercado mundial; Strauss-Kahn, nuevo Director Gerente del FMI; Calentamiento global; Europa: La integración financiera; Las finanzas islámicas; Vulnerabilidad de los mercados emergentes; Agitación en el mercado de hipotecas de alto riesgo: Lecciones; La integración del Magreb; Los productores de petróleo: Gestión fiscal; Notas breves.
International Monetary Fund. External Relations Dept.
Global market turmoil; Strauss-Kahn to head IMF; Global warming; Europe: Financial integration; Islamic finance; Emerging market vulnerability; Subprime turmoil: Lessons; Maghreb integration; Oil producers: Fiscal management; News briefs.
International Monetary Fund. External Relations Dept.
On November 17, Timothy Geithner took over as head of the Federal Reserve Bank of New York after serving for two years as Director of the IMF’s Policy Development and Review Department. Before that, he worked from 1988 to 2001 in the U.S. Treasury, including as Under Secretary for International Affairs. He spoke with Laura Wallace about the IMF’s strengths and weaknesses, and lessons on managing and resolving crises.
International Monetary Fund. External Relations Dept.
The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen to podcasts given by top IMF economists on important issues in the global economy. www.imf.org/external/pubs/ft/survey/so/home.aspx