(MENAFN- Kuwait News Agency (KUNA)) WASHINGTON, Jan 26 (KUNA) -- The Executive Board of the International Monetary Fund (IMF) approved 42-month arrangements under the Extended Credit Facility and Extended Fund Facility of USD 86.9 million for Mauritania, the IMF announced on Wednesday.
The IMF said in a statement that the Board approval would allow for USD 21.7 million to be made available 'immediately' to Mauritania.
The statement added, 'The remaining amount will be phased in over the duration of the program, subject to semi-annual review.'
'Mauritania's economic reform program supported by the IMF arrangements aims to preserve macroeconomic stability, strengthen the fiscal and monetary policy frameworks, consolidate the foundations for sustainable, inclusive growth and reduce poverty,' the statement affirmed.
The statement pointed out that Mauritania's economic growth has 'accelerated in 2022, driven primarily by the extractive sectors, while Inflation should stabilize at approximately 11 percent reflecting the central bank tight monetary policy.' (end)
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