Mauritania's state financial debt is projected to reach 219.27bn MRU (€4.86bn) at the end of 2026, according to the debt annex to the draft 2027 finance law, as reported by news sites Madar and Points Chauds. Multilateral lenders account for 52.3% of the total and bilateral lenders for 35.9%. The Arab Fund for Economic and Social Development is the largest single creditor, with 54.8bn MRU (€1.21bn), or about a quarter of the stock.
Analysis: The projection is 24.2bn MRU (€536mn), or 12.4%, above the 195.07bn MRU (€4.32bn) in the finance ministry's debt bulletin for June 30, by our calculation. The two documents may not use the same scope or exchange rate, and neither report explains the gap. The Arab Fund, the Saudi Fund for Development and the World Bank's IDA together hold about half the stock, so development lenders rather than bond markets set most of the terms. The annex gives no debt service for 2027, Points Chauds said. However, the draft budget projects interest of 4.90bn MRU (€109mn), according to Madar. The IMF mission's end-of-visit statement, expected around November 13, may give the fund's own view.
Source: Points Chauds, Points Chauds, 'Dette publique : la Mauritanie devra 219 milliards d'ouguiyas fin 2026…' (November 8, 2026), citing Madar and the debt annex to the draft 2027 finance law, December 31, 2026 (projection); Ministère des Finances, Mauritanie, Ministère des Finances, Direction de la Dette Publique, Bulletin statistique de la dette publique au titre du deuxième trimestre 2026, June 30, 2026