TITLE

ON THE VERGE OF SUCCESS

AUTHOR(S)
Ford, Neil
PUB. DATE
July 2003
SOURCE
Middle East;Jul2003, Issue 336, p53
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The discovery of offshore oil and gas reserves promises to revolutionize the economy of Mauritania The development of the Mauritania's hydrocarbon reserves could greatly boost government revenues in this Saharan state which is currently reliant upon fishing and iron ore mining, financing both infrastructural projects and increased social spending. Advances in deepwater production technology over the past decade have made the development of Mauritania's offshore fields economically viable. GDP growth has gradually been pushed up to 5% and the current inflation rate of 2.5% in one of the lowest in Africa. These figures have been achieved by closely adhering to IMF recommendations regarding economic reform since 1985.
ACCESSION #
10171714

 

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