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Mauritania: IMF to approve $163-mln loan
The Mauritania government is on the verge of being granted a $163-million assistance package earmarked for economic reforms from the International Monetary Fund (IMF), reports say.
Estimated at $162.8 million, the credit received a first draft approval pending a final decision by the board of directors of the IMF in December, next month, Jeune Afrique reports.
The first approval is decided following a mission by the international institution in the Mauritania capital, from September 25 to October 6.
The targeted reforms according to IMF, seek to foster an inclusive and diversified growth, maintain the macro-economic stability, restore debt sustainability and reduce poverty.
The IMF also expects Nouakchott to improve banking supervision, improve business climate and develop the social security scheme.
The loan will help to put in place a competitive exchange market and a modernized monetary policy framework.
The arrangement makes the Mauritania eligible for the credit over three years.
Discussions to reach the arrangement were led on the side of the IMF by its staff team coordinated by Eric Mottu, a Deputy Divison Chief, with expertise in Macro-economics.
