MAURITANIA: New kid on the block

Ford, Neil
May 2003
Middle East;May2003, Issue 334, p56
The article focuses on the discovery of oil field reserves in Mauritania. The government of Mauritania would do well to keep its eye on broader economic policy, for although levels of growth are on the rise, two major problems have appeared on the horizon. Government revenues are dominated by income from the country's iron ore and fishing industries but both are currently fraught with difficulties. Inflation has been kept down, at around 3, and the level of foreign reserves is rising, while the Minister of Finance, Beijel Ould Houmeit, says Mauritania's GDP grew by 4.2 1241328n 2002. A World Trade Organization report in the second half of 2002 stated that while the country's economic liberalization programme was proceeding well, sustained technical assistance was required if Mauritania was to benefit from economic globalization. However, the report complimented the governmenton its efforts to create a solid legislative and regulatory framework, to stabilize the economy and to remove unnecessary barriers to international trade.


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