Saturday, November 24, 2007

IMF disburses aid to Mauritania under the PRGF

Source: IMF grants Mauritania 3.1 mln usd -

The IMF this week disbursed some 3.1 million USD to the Republic of Mauritania through its Poverty Reduction and Growth Facility arrangement, bringing the total amount of relief to the Islamic nation under the arrangement to some 13.3 million USD. The disbursement is reflective of the Republic’s economic performance under the PGRF program. The IMF said that, despite sharp declines in oil production, the Republic has been able to maintain performance by containing inflation and implementing sound macroeconomic policies.

Additionally, the IMF reported that the Republic has made significant strides towards improvement of governance and structural reforms, including the beginnings of a new oil revenue management law to ensure best practices. The Republic will continue its work under the program, with financial sector reforms to improve the situation of money markets and commercial banks, and an attempt to stimulate private-sector growth.

Question: Is the influx of money from the IMF sufficient to help countries like Mauritania for the long-term?

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