ESCWA Publication: E/ESCWA/CL3.SEP/2024/TP.2
Country: Islamic Republic of Mauritania
Publication Type: Information material
Cluster: Shared Economic Prosperity
Focus Area: Debt and fiscal policy, Macroeconomics
Initiatives: Debt Optimization to Enhance Fiscal Space, Climate/SDGs Debt Swap
SDGs: Goal 8: Decent Work and Economic Growth
Keywords: Capacity building, Debt management, Development finance, Economic growth, External debt, Gross domestic product, Interest rates, Liquidity, Mauritania, Public debt, Risk management, Sustainable development, Tax collection, Technical cooperation
Public debt and optimization strategies for Mauritania (Dette publique et stratégies d'optimisation de la dette pour la Mauritanie)
July 2025
The present paper assesses Mauritania's public debt profile, focusing on sustainability and strategic management to secure financing for sustainable development. Despite recent economic growth, Mauritania is still facing a moderate risk of indebtedness, exacerbated by a high external debt service-to-revenue ratio, which peaked at 25 per cent in 2023. With debt service projected to exceed $3.1 billion between 2024 and 2030 – averaging $450 million annually – the need for optimizing debt management strategies with innovative solutions is critical.
Key strategies proposed include the development of programme-based climate/SDGs debt swap instruments, the establishment of medium-term debt-to-GDP stabilization frameworks and enhanced access to innovative financing instruments. At the national level, the recommendations also focus on diversifying the economy, improving tax collection, enhancing debt data quality and strengthening institutional capacities.
In addition, the paper underscores the need for substantial international support, review of debt sustainability analysis frameworks, and global financial reforms to increase concessional financing and expand fiscal space for lower middle-income countries such as Mauritania. These efforts are vital for improving debt sustainability and fiscal space, fostering long-term economic growth and achieving the Sustainable Development Goals.
This publication is available in French only.
Related content
Debt and fiscal policy, Macroeconomics
The present paper assesses Mauritania's public debt profile, focusing on sustainability and strategic management to secure financing for sustainable development. Despite recent economic growth, Mauritania is still facing a moderate risk of indebtedness, exacerbated by a high external debt service-to-revenue ratio, which peaked at 25 per cent in 2023. With debt service projected to exceed $3.1 billion between 2024 and 2030 – averaging $450 million annually – the need for optimizing debt management strategies with innovative solutions is critical.
Key strategies proposed include the development of programme-based climate/SDGs debt swap instruments, the establishment of medium-term debt-to-GDP stabilization frameworks and enhanced access to innovative financing instruments. At the national level, the recommendations also focus on diversifying the economy, improving tax collection, enhancing debt data quality and strengthening institutional capacities.
In addition, the paper underscores the need for substantial international support, review of debt sustainability analysis frameworks, and global financial reforms to increase concessional financing and expand fiscal space for lower middle-income countries such as Mauritania. These efforts are vital for improving debt sustainability and fiscal space, fostering long-term economic growth and achieving the Sustainable Development Goals.
This publication is available in French only.
