IMF issues shaky appraisal of Mauritania's economy

The International Monetary Fund (IMF) recently visited Mauritania to assess the country's economy in light of a global drop in metal prices, which the country's economy had been depending on.

Economic growth sank to 2 percent last year, and while officials are hopeful that 2016 growth will be double that based on the opening of a new mine, officials said adjustments do need to be made to compensate for lost mining revenues and minimize expenses.

The IMF also judged the county's debt portfolio as a potential barrier to growth and its ability to attract additional credit. IMF officials expect Mauritania's external debt to reach 79 percent of Gross Domestic Product (GDP) by 2018 and public debt to rise to 81 percent of GDP by 2021. It also retains a deficit equal to 19 percent of its GDP.

Because of these debt obligations, unclear solutions for addressing the country's holes in revenue, and dragging metal prices, which may or may not rebound soon, IMF officials concluded that Mauritania's economy is indefinitely vulnerable.