Posted by: Journal du Cameroun

Mitsuhiro Furusawa, deputy Managing Director of the International Monetary Fund (IMF), at the end of his visit to Mauritania described the meetings he held there as productive and constructive.The visit followed the approval on December 6, 2017 by the IMF Executive Board of a three-year arrangement under the Extended Credit Facility (ECF) for an amount of about US$163.9 million.

Furusawa in a statement issued in Nouakchott on Monday said during the visit he held “productive” and “constructive” meetings with Mauritanian authorities, civil society and private sector representatives, which discussed recent economic developments in Mauritania, which have been positive, and the favourable international environment.

“We agreed that the time is right – given the global recovery and sustained metal prices – to undertake broad-based structural reforms to accelerate inclusive growth, transform the Mauritanian economy, and create the jobs needed to durably lift living standards and generate a more prosperous future.”

“Our discussions took place in the wake of last month’s regional conference which called on Arab governments to take decisive action to promote accountability, competition, and technology and trade, while pursuing fairer fiscal policies, ensuring strong social safety nets, and investing in people and education reforms.”

He welcomed the launch of the IMF-supported economic programme, and the Mauritanian authorities’ commitment to its implementation, “following the considerable adjustment already achieved over the past two years”.

He said the Extended Credit Facility (ECF) approved by the IMF in December 2017, for an amount of $163.9 million over three years, will support the inclusive growth strategy and encourage continued reform efforts.

“We discussed the authorities’ new growth strategy based on the three pillars of inclusive economic growth, human capital development, and improving governance.