Islamic Republic of Mauritania: Fifth Reviews Under the Arrangements Under the Extended Credit Facility and the Extended Fund Facility, Request for a Waiver of Applicability of Performance Criteria, and Fourth Review Under the Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for the Islamic Republic of Mauritania

This paper presents Islamic Republic of Mauritania’s Fifth Reviews under the Arrangements under the Extended Credit Facility and the Extended Fund Facility, Request for a Waiver of Applicability of Performance Criteria, and Fourth Review under the Arrangement under the Resilience and Sustainability Facility. Modernizing the macroeconomic policy frameworks, including through the institutionalization of the fiscal rule and the steadfast transition to a flexible exchange rate regime, would help bolster Mauritania’s resilience to shocks, amid global uncertainties and an escalation of regional security risks. A swift operationalization of the Anti-Corruption Authority and effective and timely implementation of the laws on declaration of assets and interests, state-owned enterprises, and the Nouadhibou free zone would enhance governance and business climate. Accelerating the climate reform agenda, including the introduction of the automatic fuel pricing mechanism in parallel with well-targeted compensatory measures, would strengthen Mauritania’s resilience to climate change and create fiscal space to meet Mauritania’s large development needs.