Mauritania Could Be Affected By Climate Events
Date
12/19/2024 2:12:36 PM
(MENAFN- Brazil-Arab News Agency (ANBA))
São Paulo – In its latest assessment of Mauritania's economy, the International Monetary Fund (IMF ) said the country's gross domestic product is expected to end the year with a 4.6% increase compared to 2023, a slowdown compared to previous years, which is expected to continue in 2025 and 2026. Despite slower growth due to a decrease in extractive activities, Mauritania has shown resilience. However, its Economy is vulnerable to“extreme weather events” and regional instabilities, the IMF said on Wednesday (18).
The IMF recommends that the Arab country continue with its“prudent” fiscal policy, including simplifying tax rules. If this is implemented, it would allow for more investment in infrastructure and an expansion of social spending, while maintaining debt sustainability. As a result of this economic assessment, the IMF released new installments of two financial support programs, estimated at USD 47.4 million.
IMF Deputy Director and Interim President Kenji Okamura was quoted as saying in a statement that inflation remains“contained” and that the officals are committed to improving political structures, strengthening the economy's resilience, accelerating inclusive growth, and mitigating the challenges posed by climate change.
“Decisive implementation of structural reforms is key to support higher, more inclusive and diversified, private-sector-led growth. Priorities include strengthening governance and transparency, promoting financial sector development and inclusion, and implementing the governance action plan to improve the business environment,” Okamura said in the statement.
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Translated by Guilherme Miranda
©John Wessels/AFP
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