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Middle East and Central Asia > Mauritania, Islamic Republic of

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Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Poverty Reduction and Growth Strategy
International Monetary Fund. Middle East and Central Asia Dept.
This paper presents Islamic Republic of Mauritania’s poverty reduction and growth strategy. With the second Strategy for Accelerated Growth and Shared Prosperity (SCAPP) Action Plan 2021–2025, Mauritania is embarking on a new phase in the implementation of its three-five-year strategy to achieve the vision “The Mauritania we want in 2030.” Mauritania, through its commitment to the implementation of the SCAPP, marks its willingness to initiate a large-scale economic, social and environmental transition, on the path of inclusive growth, economic diversification, social cohesion, respect for fundamental rights and human dignity, peace and respect for the environment. The first Action Plan 2016–2020 demonstrated that the implementation of the SCAPP was able to record convincing results. However, some of the objectives could not be achieved, in particular because of the Coronavirus disease 2019 pandemic, which severely affected the world economy, and therefore the Mauritanian economy, which resulted in the emergence of new priorities. This Action Plan 2021–2025 takes into account the lessons learned from the implementation of the first and implements the necessary measures to support the country in its economic recovery and respond to the decisive challenges of the next 5 years, which will be decisive in the preparation of the third Action Plan and the achievement of the 2030 Goals.
Keywords:
Ministry of petroleum; Ministry of hydraulics; ministry of Livestock; Ministry of employment; Ministry of communication; Ministry of equipment; Ministry of trade; Infrastructure; Global; West Africa
Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Sixth Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of a Performance Criterion-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 is having a severe human, economic, and social impact on Mauritania. The economy is estimated to have contracted by about 2 percent in 2020 and the crisis generated large financing needs. The authorities responded swiftly to mitigate the impact of the pandemic while international partners provided grants, loans, and debt service suspension. This, compounded by higher commodity exports (iron ore and gold) and some delays in emergency spending, resulted in unexpected fiscal surpluses and an accumulation of international reserves, which may now be used to support the recovery in 2021–22. The outlook remains highly uncertain and dependent on volatile commodity markets, with sizable downside risks in case new waves of the pandemic spill over into Mauritania.
Keywords:
ISCR; CR; higher-than-anticipated financing; poverty-reducing expenditure; ECF arrangement; successor ECF; debt service suspension
Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Sixth Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of a Performance Criterion-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 is having a severe human, economic, and social impact on Mauritania. The economy is estimated to have contracted by about 2 percent in 2020 and the crisis generated large financing needs. The authorities responded swiftly to mitigate the impact of the pandemic while international partners provided grants, loans, and debt service suspension. This, compounded by higher commodity exports (iron ore and gold) and some delays in emergency spending, resulted in unexpected fiscal surpluses and an accumulation of international reserves, which may now be used to support the recovery in 2021–22. The outlook remains highly uncertain and dependent on volatile commodity markets, with sizable downside risks in case new waves of the pandemic spill over into Mauritania.
Keywords:
ISCR; CR; higher-than-anticipated financing; poverty-reducing expenditure; ECF arrangement; successor ECF; debt service suspension
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
Designing Fiscal Redistribution: The Role of Universal and Targeted Transfers
Mr. David Coady
and
Nghia-Piotr Le
There is a growing debate on the relative merits of universal and targeted social assistance transfers in achieving income redistribution objectives. While the benefits of targeting are clear, i.e., a larger poverty impact for a given transfer budget or lower fiscal cost for a given poverty impact, in practice targeting also comes with various costs, including incentive, administrative, social and political costs. The appropriate balance between targeted and universal transfers will therefore depend on how countries decide to trade-off these costs and benefits as well as on the potential for redistribution through taxes. This paper discusses the trade-offs that arise in different country contexts and the potential for strengthening fiscal redistribution in advanced and developing countries, including through expanding transfer coverage and progressive tax financing.
Keywords:
WP; income; cost; earned income; taxation framework; consumption taxation; transfer program; income tax schedule; efficiency cost; poverty impact; redistribution objective; means testing; income share; public spending; income redistribution objective; progressive tax; poverty line; Personal income; Income tax systems; Fiscal redistribution; Income inequality; Middle East; North Africa; Sub-Saharan Africa; Global; East Africa; transfers; taxes; targeted; universal; income transfer
Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Request for Disbursement Under the Rapid Credit Facility-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 focuses on the Islamic Republic of Mauritania’s Request for Disbursement Under the Rapid Credit Facility. The economic and social impact of the pandemic is rapidly unfolding, with a contraction of output expected in 2020. The authorities have responded swiftly with measures to contain the pandemic and alleviate its fallout. Going forward, prioritizing health spending and targeted support to the most vulnerable households and sectors in the economy remains critical. The authorities are committed to full transparency and reporting of resources deployed for the emergency response, to audit crisis-mitigation spending once the crisis abates, and to publish the results. At the same time, they remain committed to the economic reform program supported by the ongoing ECF arrangement with the IMF. The program aims at using the fiscal space to increase priority spending on education, health and social protection and infrastructure, while mobilizing domestic revenues and maintaining prudent borrowing policies to preserve debt sustainability.
Keywords:
ISCR; CR; financing; center
Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Request for Disbursement Under the Rapid Credit Facility-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 focuses on the Islamic Republic of Mauritania’s Request for Disbursement Under the Rapid Credit Facility. The economic and social impact of the pandemic is rapidly unfolding, with a contraction of output expected in 2020. The authorities have responded swiftly with measures to contain the pandemic and alleviate its fallout. Going forward, prioritizing health spending and targeted support to the most vulnerable households and sectors in the economy remains critical. The authorities are committed to full transparency and reporting of resources deployed for the emergency response, to audit crisis-mitigation spending once the crisis abates, and to publish the results. At the same time, they remain committed to the economic reform program supported by the ongoing ECF arrangement with the IMF. The program aims at using the fiscal space to increase priority spending on education, health and social protection and infrastructure, while mobilizing domestic revenues and maintaining prudent borrowing policies to preserve debt sustainability.
Keywords:
ISCR; CR; financing; center; RCF fund; financing gap; grant financing; commodity export; emergency support; Credit; Fiscal stance; COVID-19; Global
Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Economic Development Documents
International Monetary Fund. Middle East and Central Asia Dept.
This Economic Development Document summarizes Mauritania’s Strategy for Accelerated Growth and Shared Prosperity (SCAPP) for 2016–30. The first five-year phase of the SCAPP will complete projects underway and lay the foundation for a new, politically more peaceful Mauritania, with infrastructure to support growth and encourage development of the country’s natural resources. Steps will be taken to complete the reforms needed to improve the business climate and promote the private sector. In the second five-year period, the economy will be more diversified and competitive, with the real rate of growth averaging about 10 percent a year. The third five-year phase will consolidate Mauritania’s “new look,” and economic growth will exceed 12 percent a year.
Keywords:
ISCR; CR; border
Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Economic Development Documents
International Monetary Fund. Middle East and Central Asia Dept.
This Economic Development Document summarizes Mauritania’s Strategy for Accelerated Growth and Shared Prosperity (SCAPP) for 2016–30. The first five-year phase of the SCAPP will complete projects under way and lay the foundations for a new, politically more peaceful Mauritania, with infrastructure put in place to support growth and encourage development of the country's natural resources. Steps will be taken to complete the reforms needed to improve the business climate and promote the private sector. In the second five-year period, the economy will be more diversified and competitive, with the real rate of growth averaging at about 10 percent a year. The third five-year phase will consolidate Mauritania's “new look” and the economic growth will exceed 12 percent a year.
Keywords:
ISCR; CR; border; private sector development strategy; public finance; Islamic Republic of Mauritania honor; natural resources; poverty rate; shared prosperity; Inclusive growth; Public investment and public-private partnerships (PPP); Human capital; Business environment; Global
Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Selected Issues Paper
International Monetary Fund. Middle East and Central Asia Dept.
This Selected Issues paper analyzes various aspects of fiscal framework in the Republic of Mauritania. Mauritania needs to avoid pro-cyclical fiscal policies and adopt rules that guide medium-term fiscal sustainability. Fiscal policy has been responsible and focused on fiscal consolidation, but important challenges lie ahead linked to price volatility, exhaustibility of resources, and effective use of resources. Mauritania has important natural resource wealth, and its fiscal policy is shaped by considerations resulting from its reliance on resource revenues. Prospects for price shocks in the short term and significant mining expansion in the long term could pose significant challenges to fiscal policy management. The analysis of fiscal framework options reveals that a fiscal rule which targets a nonresource primary balance for long-term sustainability, designed to allow some frontloading of public spending on productive investment, would be appropriate for Mauritania under the assumption of a finite resource horizon. A fiscal rule targeting a structural resource balance would be appropriate in the scenario of long-lasting resources, possible under the assumption of favorable developments in the global commodity markets.
Keywords:
ISCR; CR; investment; Mauritania; price; resource; investment path; banking sector reform; resource revenue; export diversification; investment plan; labor force; Public investment spending; Productivity; Fiscal governance; Global; North Africa