Islamic Republic of Mauritania: Fourth Reviews Under the Arrangements Under the Extended Credit Facility, and the Extended Fund Facility, Third Review Under the Resilience and Sustainability Facility, and Request for Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for the Islamic Republic of Mauritania

This paper focuses on Mauritania’s Fourth Reviews under the Arrangements under the Extended Credit Facility, and the Extended Fund Facility, Third Review under the Arrangement under the Resilience and Sustainability Facility, and Request for Rephasing of Access. The Mauritanian economy has proven resilient, notwithstanding heightened global uncertainty and increasing regional security risks, with economic activity estimated to have decelerated slightly to 5.2 percent in 2024. Rule-based fiscal consolidation, supported by robust tax collection, and flexibilization of the exchange rate —alongside ongoing reforms to monetary operations and banking supervision—have strengthened the Mauritanian economy resilience, amid heightened global uncertainties and regional security risks. Decisive implementation of structural reforms is essential to support higher, more inclusive and diversified, private-sector-led growth. A strong reform agenda, including the recent adoption by the parliament of key anticorruption laws, should bolster governance and help promote private sector investments. These programs aim to maintain adequate international reserves, strengthen macroeconomic policy frameworks, and promote sustainable growth, thereby supporting the country's climate agenda, human capital development, and poverty reduction.