IMF Executive Board Completes Fifth Review Under Mauritania’s Extended Credit Facility Arrangement and Approves US$16.9 Million Disbursement

by Machiavelli

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IMF Executive Board Completes Fifth Review Under Mauritania’s Extended Credit Facility Arrangement and Approves US$16.9 Million Disbursement

 

NOUAKCHOTT, Mauritania, November 28, 2012/African Press Organization (APO)/ The Executive Board of the International Monetary Fund (IMF) completed today the fifth review of Mauritania’s economic performance under the program supported by an Extended Credit Facility arrangement (ECF) and approved an extension of the arrangement by three months until June 30, 2012.1 The Board’s decision, which was taken on a lapse of time basis,2 enables the immediate disbursement of an amount equivalent to SDR 11.04 million (US$16.9 million), bringing total disbursements under the arrangement to an amount equivalent to SDR 66.24 million (US$101.6 million).

The Executive Board approved a three-year arrangement for Mauritania in March 2010 for an amount equivalent to SDR 77.28 million (about 120 percent of the country’s quota in the IMF, see Press Release No. 10/89).

Economic…

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