Mauritania’s new Finance Minister, Mohamed Lemine Ould Dhehbi, announced in Nouakchott that the country’s foreign exchange reserves amounted to 1 048 258 000 dollars.
This sum covers six months of imports, the minister told a press briefing.
He was reacting to rumours spread in recent days about alleged financial challenges inherited from former President Mohamed Ould Abdel Aziz’s administration.
Earlier this month, the latter handed over power to Mohamed Ould Cheikh El Ghazouani, who was elected president on 22 June 2019.
The Finance minister has lashed out before the press, lambasting the “malicious manipulation” of information about financial practices, in order to deceive the public by circulating fake theories.
He stressed that such a ‘game’ is detrimental to the economy and the citizen, given the tight link between inflation and the deterioration of the purchasing power of the people.
Ould Dhehbi also revealed that Mauritania’s real external debt was about four dollars, noting, however, that this debt is not worrying and that the regularity of its repayment is encouraging.
He added that Mauritania even needs additional indebtedness to lay the foundations of a solid economy through the realization of development projects that are essential for the creation of jobs and the improvement of the living conditions of the populations.
Mauritania’s GDP rises to five billion dollars, Minister Ould Dhehbi concluded.
– APA
