Completed Development AidData Chinese Aid

Chinese Government cancels RMB 429.3 million of the Government of Mauritania’s outstanding debt obligations

¥57M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Mauritania
Country	Mauritania
Start Date	Sep 17, 2007
End Date	Jun 07, 2027
Duration	7,203 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`1964`

Grant Description

On September 17, 2007, the Chinese Government and the Government of Mauritania signed a debt exemption protocol, which cancelled RMB 429,300,000 of the Government of Mauritania’s outstanding debt obligations. These debt obligations resulted from 6 interest-free loans that the Government of Mauritania previously contracted.

All of these loan matured on or before December 31, 2005.

The protocol agreement was signed in Nouakchott by Mauritanian Foreign Minister Mohamed Salek Ould Mohamed Lemine and Chinese Ambassador to Mauritania Zhan Xun.

📋 Staff Comments

In 2007, the IMF published a report in which it indicated that, “[w]ith respect to arrears on rescheduled debt to China ($23.6 million), [IMF] staff has been informed that the Chinese authorities have decided to forgive all claims in arrears.” However, this estimate appears to be an outlier. The Chinese Government reports a value of RMB 429,300,000 and the Central Bank of Mauritius reports a value of 57 million euros (which is roughly equivalent to RMB 429,300,000).
This debt forgiveness project is not marked as an umbrella record since our dataset does not capture any interest-free loans before this debt forgiveness project, so there is no risk of double counting.

📚 Sources & References

China waives Mauritanian debt totalling 44 mln dollars
China waives Mauritanian debt totalling 44 mln dollars
Debt Relief with Chinese Characteristics
Islamic Republic of Mauritania: Second Review Under the Staff Monitored Program and Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility—Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Islamic Republic of Mauritania
走进毛里塔尼亚
中、毛两国政府签署免债议定书
走进毛里塔尼亚
Rapport Annuel 2007 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.