IMF chief reaffirms support to Mauritania's economic reforms

RABAT, Jan. 30 (Xinhua) -- International Monetary Fund (IMF) Managing Director Christine Lagarde reiterated on Tuesday IMF's support to Mauritania's economic reforms.

Lagarde made the remarks during a meeting with Mauritanian Minister of Economy and Finance El Moctar Ould Djay and Governor of the Central Bank of Mauritania Abdel Aziz Ould Dahi in the Moroccan city of Marrakesh, on the sidelines of a high-level conference on Arab economic growth.

They discussed the recent economic developments in the north African country and prospects of the bilateral cooperation.

Lagarde welcomed the launch of the Mauritanian economic reform program supported by the IMF's 163.9-million-U.S. dollar Extended Credit Facility (ECF), she said in a press statement.

Last December, IMF Executive Board approved a three-year arrangement under ECF with Mauritania to support the country's economic and financial reform program.

The ECF-supported program is expected to help Mauritanian economy foster inclusive and diversified growth to improve the population's living standards, maintain macroeconomic stability, strengthen debt sustainability, and reduce poverty.

During the talks, Lagarde reiterated that the IMF stands ready to continue to support Mauritania in its reform efforts.

She also highlighted that "Mauritania should take advantage of the current favorable external environment to accelerate reforms and transition to stronger growth, which is needed to improve people's living standards in a sustainable manner."

Lagarde, along with top Arab decision makers and economists, attended the Marrakesh conference entitled "Opportunity for All: Promoting Growth, Jobs and Inclusiveness in the Arab World."

Co-hosted by the IMF, the Arab Monetary Fund, Arab Fund for Social and Economic Development and the government of Morocco, the two-day conference brought together high-level policy makers, corporate executives, academics, youth, media and civil society representatives from countries in the Arab World and beyond. Enditem