[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109832-en":3,"doc-seo-109832-105":31,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},109832,962075114765,"Quinn","https://ap-avatar.wpscdn.com/davatar_a8503ba1806abce46bf441b54a3ca4cd",8,"Research & Report","Islamic Republic of Mauritania - Joint World Bank-IMF Debt Sustainability Analysis - April 2020 - High external and overall debt distress risk","Joint World Bank-IMF Debt Sustainability Analysis for the Islamic Republic of Mauritania assesses external and public debt under baseline projections. The report finds high risk of external debt distress and high overall risk of public debt distress, with key thresholds breached during 2020–22 for NPV of external public debt to GDP and during 2020–25 for debt service-to-revenue. Debt is projected to become sustainable and fall below thresholds by 2026, despite weaker macroeconomic conditions after COVID-19 and delayed Grand Tortue/Ahmeyim gas production.","Public Disclosure Authorized Public Disclosure Authorized  \nINTERNATIONAL DEVELOPMENT ASSOCIATION  \nINTERNATIONAL MONETARY FUND  \nISLAMIC REPUBLIC OF MAURITANIA  \nJoint World Bank-IMF Debt Sustainability Analysis  \nApril 2020  \nPrepared Jointly by the staffs ofthe International Development Association (IDA)  \nand the International Monetary Fund (IMF)  \nApproved by Marcello Estevão (IDA), Taline Koranchelian and Ashwin Ahuja (IMF)  \n\n| Islamic Republic of Mauritania: Joint Bank-Fund Debt Sustainability Analysis |  |\n| --- | --- |\n| Risk of external debt distress: | High |\n| Overall risk of debt distress: | High |\n| Granularity in the risk rating: | Sustainable |\n| Application of judgment: | No |\n| Macroeconomic projections | Negative growth in 2020, and one-year delay in the start of Grand Tortue/Ahmeyim gas production (2023). Primary deficit in 2020, returning to the previously projected stable surplus after two years. Iron ore prices lower by 10 percent, resulting in larger current account deficit. |\n| Financing strategy | Additional financing needs filled by RCF, concessional borrowing and grants in 2020 adding new external debt of over 5 percent of GDP. |\n| Realism tools flagged | Large unexpected change in public debt in the last 5 years. |\n| Mechanical risk rating under the external DSA | High |\n| Mechanical risk rating under the public DSA | High |\n| Debt coverage is the same as in previous DSA: central government and public agencies, central bank, and SOE debt guaranteed by the government (including state-owned oil and gas company, excluding national mining company). The Composite Indicator score is 2.84 and the debt-carrying capacity is assessed to be medium. |  |\n\nThe risk of external debt distress and the overall risk of public debt distress remain high, as the NPV of public external debt to GDP continues to breach its threshold in 2020-22 under baseline projections, and the debt service-to-revenue ratio breaches its threshold in 2020-25. However, external and public debt are assessed to be sustainable as both indicators are projected to be on a steady downward trend and to fall below their respective thresholds by 2026. The risk rating remains high despite the rebasing of national accounts completed by the authorities, which estimated nominal GDP to be 35 percent higher than previously in 2018 due to upgrading to SNA 2008 and expanding the coverage of informal activities.  \nThe macroeconomic outlook is significantly less favorable than the previous Debt Sustainability Analysis (DSA) in November 2019 due to the external shock caused by the COVID-19 pandemic and a delay in the Grand Tortue/Ahmeyim gas project. Projected export, growth, fiscal and debt trajectories are highly uncertain and are vulnerable to a stronger impact of the pandemic, reversalsin metal and oil prices, regional security developments, and climatic hazards. Prudent policies are needed, including avoiding non-concessional borrowing and relying instead on grants and concessional financing taken up at a moderate pace consistent with absorptive capacity.  \nTable 1. Mauritania: External Debt Sustainability Framework, Baseline Scenario 2017-40  \n(in percent of GDP, unless otherwise indicated)  \nAverage 8/  \nHistorical  \nProjections  \n70.1  \n60.1  \n0.1  \n11.7  \n14.3  \n-3.1  \n0.5  \n-9.8  \n0.2  \n3.8  \n1.5  \n1.8  \n8.2  \n7.5  \n...  \n19.8  \n...  \n...  \n5.3  \n55.0  \n50.5  \n-1.5 6.7 9.8  \n-1.6  \n-1.5 -7.2  \n-0.8  \n4.3  \n0.2  \n2.2  \n3.0  \n1.5  \n34.2  \n19.8  \n1.8  \n38.5  \n4.5  \n\n| Definition of external/domestic debt | Residency-based |\n| --- | --- |\n| Is there a material difference between the two criteria? | Yes |\n\n4.0  \n2.0  \n0.0  \n-2.0  \n-4.0  \n-6.0  \n-8.0  \n-10.0  \n45  \n40  \n35  \n30  \n25  \n20  \n15  \n10  \n5  \n0  \n Debt Accumulation  \n~~ ~~ Grant-equivalent financing (% of GDP)  \n~~ ~~ Grant element of new borrowing (% right scale)  \n70  \n60  \n50  \n40  \n30  \n20  \n10  \n0  \nExternal debt (nominal) 1/  \n of which: Private  \n\n|  |  |\n| --- | --- |\n\n2020 2022 2024 2","cbCaip3mS8vqFrjJ","https://ap.wps.com/l/cbCaip3mS8vqFrjJ","pdf",462682,3,1,10,"English","en",105,"# Joint World Bank-IMF Debt Sustainability Analysis\n## Risk assessment: external and public debt distress\n## Macroeconomic projections and key assumptions\n## Financing strategy and realism tools\n## Results framework and baseline indicators","[{\"question\":\"What does the analysis conclude about Mauritania’s external debt distress risk?\",\"answer\":\"The report concludes the risk of external debt distress is high, driven by breaches of key debt burden thresholds in the baseline period 2020–22.\"},{\"question\":\"How is the overall risk of public debt distress assessed?\",\"answer\":\"The overall risk of debt distress is assessed as high, with the NPV of public external debt to GDP breaching thresholds in 2020–22 and the debt service-to-revenue ratio breaching thresholds in 2020–25.\"},{\"question\":\"Does the report expect Mauritania’s debt situation to improve over time?\",\"answer\":\"Yes. While risk remains high, external and public debt are projected to move onto a steady downward path and fall below respective thresholds by 2026.\"}]","Islamic Republic of Mauritania - Joint World Bank-IMF Debt Sustainability Analysis - April 2020 - High external and overall debt distress risk | PDF",1784482588,25,{"code":4,"msg":32,"data":33},"ok",{"site_id":25,"language":24,"slug":34,"title":13,"keywords":35,"description":14,"schema_data":36,"social_meta":87,"head_meta":89,"extra_data":91,"updated_unix":29},"islamic-republic-of-mauritania-joint-world-bank-imf-debt-sustainability-analysis-april-2020-high-external-and-overall-debt-distress-risk","",{"@graph":37,"@context":86},[38,54,69],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,51],{"item":42,"name":43,"@type":44,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":46,"name":47,"@type":44,"position":48},"https://docshare.wps.com/document/","Document",2,{"item":50,"name":12,"@type":44,"position":20},"https://docshare.wps.com/document/research-report/",{"item":52,"name":13,"@type":44,"position":53},"https://docshare.wps.com/document/islamic-republic-of-mauritania-joint-world-bank-imf-debt-sustainability-analysis-april-2020-high-external-and-overall-debt-distress-risk/109832/",4,{"url":52,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":24,"description":14,"dateModified":62,"datePublished":63,"encodingFormat":61,"isAccessibleForFree":64,"interactionStatistic":65},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":42,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-07-31","2026-07-19",true,{"@type":66,"interactionType":67,"userInteractionCount":20},"InteractionCounter",{"@type":68},"ViewAction",{"@type":70,"mainEntity":71},"FAQPage",[72,78,82],{"name":73,"@type":74,"acceptedAnswer":75},"What does the analysis conclude about Mauritania’s external debt distress risk?","Question",{"text":76,"@type":77},"The report concludes the risk of external debt distress is high, driven by breaches of key debt burden thresholds in the baseline period 2020–22.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"How is the overall risk of public debt distress assessed?",{"text":81,"@type":77},"The overall risk of debt distress is assessed as high, with the NPV of public external debt to GDP breaching thresholds in 2020–22 and the debt service-to-revenue ratio breaching thresholds in 2020–25.",{"name":83,"@type":74,"acceptedAnswer":84},"Does the report expect Mauritania’s debt situation to improve over time?",{"text":85,"@type":77},"Yes. While risk remains high, external and public debt are projected to move onto a steady downward path and fall below respective thresholds by 2026.","https://schema.org",{"og:url":52,"og:type":88,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":90,"canonical":52},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":93},[94,98,102,106,111,116,121,124,129,132,135],{"id":21,"doc_module":4,"doc_module_name":47,"category_name":95,"show_sort_weight":96,"slug":97},"Story & Novel",90,"story-novel",{"id":48,"doc_module":4,"doc_module_name":47,"category_name":99,"show_sort_weight":100,"slug":101},"Literature",80,"literature",{"id":53,"doc_module":4,"doc_module_name":47,"category_name":103,"show_sort_weight":104,"slug":105},"Exam",70,"exam",{"id":107,"doc_module":4,"doc_module_name":47,"category_name":108,"show_sort_weight":109,"slug":110},5,"Comic",60,"comic",{"id":112,"doc_module":4,"doc_module_name":47,"category_name":113,"show_sort_weight":114,"slug":115},6,"Technology",50,"technology",{"id":117,"doc_module":4,"doc_module_name":47,"category_name":118,"show_sort_weight":119,"slug":120},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":47,"category_name":12,"show_sort_weight":122,"slug":123},30,"research-report",{"id":125,"doc_module":4,"doc_module_name":47,"category_name":126,"show_sort_weight":127,"slug":128},9,"Religion & Spirituality",20,"religion-spirituality",{"id":127,"doc_module":4,"doc_module_name":47,"category_name":130,"show_sort_weight":127,"slug":131},"World Cup","world-cup",{"id":22,"doc_module":4,"doc_module_name":47,"category_name":133,"show_sort_weight":22,"slug":134},"Lifestyle","lifestyle",{"id":136,"doc_module":4,"doc_module_name":47,"category_name":137,"show_sort_weight":107,"slug":138},19,"General","general"]