• IMF agrees on $89.3M loan for Mauritania, pending Executive Board approval
• Mauritania met reform targets; IMF urges faster climate reforms under RSF
• Economic growth seen slowing to 4.2% in 2025; inflation expected below 2%

The International Monetary Fund (IMF) has reached a staff-level agreement to provide Mauritania with a total loan package of $89.3 million, pending approval by the IMF Executive Board. The funding is intended to support the country’s ongoing economic and structural reform programs.

The agreement follows a review of programs supported under the Extended Credit Facility (ECF), the Extended Fund Facility (EFF), and the Resilience and Sustainability Facility (RSF), the institution said in a statement on Friday, November 7.

According to the IMF, the projected disbursements include $8.7 million under the combined ECF/EFF program and $80.6 million under the RSF. In its review of the ECF/EFF, the Fund described Mauritania’s performance as satisfactory, noting that all quantitative targets for the end of June 2025 were met. The fiscal deficit at the end of September 2025 was reportedly lower than expected, while tax revenues were on target and public spending remained below budget.

Regarding the Resilience and Sustainability Facility, IMF Mission Chief Felix Fischer urged the authorities to accelerate reforms under the RSF to strengthen Mauritania’s resilience to climate change. He added that the planned introduction of an automatic fuel pricing mechanism and a climate contribution would help create fiscal space to meet the country’s substantial development needs.

The IMF welcomed Mauritania’s progress on governance and called for the rapid operationalization of the Anti-Corruption Authority, as well as full compliance with the asset declaration law, steps it considers essential for enhancing transparency and the rule of law. The Fund also recommended enshrining the fiscal rule in the Organic Law on Finance (LOLF) and continuing the transition toward a more flexible exchange rate regime to better absorb external shocks.

The IMF projects that Mauritania’s economic growth will slow to 4.2% in 2025 from 6.3% in 2024, reflecting a contraction in the extractive industries and a slowdown in non-extractive sectors. Inflation is expected to remain below 2% next year.

Ingrid Haffiny