08.01.2021Michel Sapin, Stéphan Alamowitch

Franklin advises Mauritania on foreign debt renegotiation.

The Islamic Republic of Mauritania has retained Franklin, in conjunction with financial consulting firm Finexem, to advise on and assist with the renegotiation of its foreign debt.

The G20 debt service suspension initiative was designed to prompt low-income countries, such as Mauritania, to engage in debt relief negotiations with their public and private creditors, in order to preserve their budgetary capacities and better serve the needs of their population.

Mauritania has therefore announced its intention to embark on a comprehensive restructuring of its sovereign debt. To that end, it has retained the Franklin-Finexem consortium for its legal and financial expertise, its in-depth knowledge of Mauritania and its experience of restructurings with major economic and political impacts. Franklin’s team has been assisting development finance institutions and governments, in Africa and the Balkan peninsula, for over a decade.

The consortium has been tasked with conducting an audit of Mauritania’s foreign debt, making recommendations on the institutional framework for debt management, developing a tailored strategy for each category of creditors, and assisting with the resulting negotiations.

Franklin’s team advising on these issues is composed of Stéphan Alamowitch, partner in charge of the Banking & Finance practice, and senior advisor Michel Sapin.