WASHINGTON, June 21 (Reuters) - The International Monetary Fund on Wednesday agreed to cancel $49 million of debts owed by Mauritania under a $3.67 billion initiative launched by the Group of Eight industrial countries a year ago.
The move brings to 21 the number of countries which have had debts to the IMF canceled under the G-8's Multilateral Debt Relief Initiative, agreed in Gleneagles, Scotland last July.
"Mauritania has made important strides since last autumn, including the resolution of data issues and the implementation of reforms in the management of public finances, prominently in the context of oil revenues and the tracking of social expenditures," IMF Deputy Managing Director Agustin Carstens said in a statement.
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