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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: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
Selected Issues
Keywords:
E. climate adaptation financing; Mauritania's climate policy commitment; Policy recommendation; climate change readiness; climate change in Mauritania; staff team of the International Monetary Fund; Exchange rate flexibility; Climate change; Natural disasters; Exchange rates; Currency markets; Global; Middle East and Central Asia; Maghreb; North Africa
Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
This selected issue paper discusses the desirable institutional and macro-financial conditions and optimal path toward greater exchange rate flexibility in the Islamic Republic of Mauritania. It also identifies the macro-financial risks that arise and mitigation measures supporting a smooth transition and discusses reforms needed for a successful and smooth shift, including the need for an alternative nominal anchor and modern monetary policy framework, more developed financial markets, and resilient financial sector. Mauritania is a small economy exposed to terms-of-trade shocks. The current account deficit is volatile and sometimes sizeable. International reserves remained adequate until 2021 but are expected to fall around the adequacy threshold due to the negative external shock. A more flexible exchange rate would reduce the economy’s vulnerability to external shocks and preserve international reserves. Countries that are heavily reliant on a single commodity or a group of commodities need more exchange rate flexibility to respond to changes in world commodity prices and to mitigate their spillovers into other sectors.
Keywords:
E. climate adaptation financing; Mauritania's climate policy commitment; Policy recommendation; climate change readiness; climate change in Mauritania; staff team of the International Monetary Fund; Exchange rate flexibility; Climate change; Natural disasters; Exchange rates; Currency markets; Global; Middle East and Central Asia; Maghreb; North Africa