Islamic Republic of Mauritania: 2005 Article IV Consultation—Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Islamic Republic of Mauritania

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 247

Publication date: July 2006

ISBN: 9781451827569

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Topics covered in this book

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Banks and Banking , Economics- Macroeconomics , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , BCM statement , BCM financial statements , staff assessment , central bank governor , fiscal policy , retroactive data issue , locust inflation , inflation risk , International reserves , Operational risk , Oil

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Summary

Mauritania was one of the countries to reach the completion point under the enhanced Initiative for Heavily Indebted Poor Countries. The revised fiscal, balance of payments, and monetary data, including data on commercial banks, revealed that the main program parameters were missed by large margins. In 2003–04, progress in structural reforms was slower than planned, and major weaknesses surfaced in fiscal, monetary, and exchange rate management. Executive Directors welcomed the authorities’ intention to gear medium-term spending plans toward poverty reduction.