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Editorial: Governance, resilience, and economic emergence

Nouakchott,  02/03/2021
Of all the reforms that have been initiated or continued, the most structuring and decisive has been that of public sector governance through more transparent management of entities, more rigorous control of public resources, and greater regulation of strategic segments coupled with the strengthening of the legal, regulatory, and procedural basis that governs the activity of economic agents.

Monetary and budgetary policies, macro-financial surveillance, control of major economic balances, and effective management of the crisis following the pandemic surge have made it possible to maintain the course of governance in the service of economic emergence and to support its main pillars, which are the productive sectors.

These actions were encouraged by restoring the confidence of stakeholders in the political and economic approaches, setting up solid and reliable governance mechanisms, reducing structural blockages, and improving the business climate, including indicators, particularly in terms of security and political stability, the quality of regulations, the rule of law, the fight against corruption, and the anchoring of business ethics, have clearly improved.

Today, with the massification of the offer towards the business world, the productive sectors offer more attractiveness thanks to an attractive investment code, an advantageous commercial code, valued economic centers, and numerous facilitations of the practice of doing business with guarantees and protections for investors, in a space where services and infrastructures have been densified to increase accessibility.

Public policies to encourage investment have enabled the productive sectors to be today real levers for sustained and inclusive economic growth, to fuel the sources of job creation and to promote the transfer of new technologies and expertise.

The capacity to absorb the shock born of the pressures and the broad adjustments imposed by the pandemic crisis for the financing of preventive measures, the management of social programs intended for vulnerable groups and the support for the economic sectors affected, as well as the implementation of the economic recovery program have been proof, if need be, of the immense potential for resilience that our country has.

But the main lesson to be drawn from the health crisis and its chain implications will undoubtedly remain, as the President of the Republic has stressed, that Mauritanians will have to rely on themselves first.

However, this lesson does not dictate falling into frustration and downturn, and that is why our country has continued to envision its development within the framework of the rich relational network of partnerships that it has been able to forge and strengthen.

Thanks to the confidence it inspires in partners and the solid foundations of its solvency, Mauritania has concluded, despite the pandemic crisis, and for the year 2020 alone, dozens of financing agreements for an amount of more than MRO 340 billion. This performance is all the more significant as it comes in a context of scarcity of financial resources and of rising economic nationalism in a context of global economic recession.

Beyond the intelligent and harmonious aggregation of reforms, the pursuit of national development strategies and programs and economic aggiornamentos brought with discernment, flexibility and promptness, our country has invested in the regional framework through its strong commitment in favor of the cancellation of the G-5 Sahel countries’ debt. Thanks to the persevering action of the President of the Republic, the maturity of this debt has been postponed, the development programs of the G-5 Sahel further accelerated, and the commitment of the partners, to mobilize them substantial financial resources, obtained.

2020, a year of hardships and challenges?
Probably yes. But also a year of performance and success.

Horizons.
 Last modification : 02/03/2021 21:35:18