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Tag "mauritian economy"

[Video Interview] Percy Mistry: “Get rid of your Bihari style of politics”

The chairman of Oxford International Group is a “friend of Mauritius” but also a fierce critic of its politics and economy. During an interview with ION News, he explains why the recent economic performance of the country is actually a “failure”. Percy Mistry argues that this is partly due to a “plantation mentality” still rife at the top level in the private sector. But our style of government and politics is

Mauritius to strengthen foreign exchange market with Bloomberg’s platform

Mauritius is strengthening its positioning as a regional financial hub with Bloomberg holding a session to demonstrate its commitment towards the island economy, and the larger continent, by tailoring its Fixed Income (FI) and Foreign Exchange (FX) products to African markets. Bloomberg held its first Mauritius Focus Day at the Labourdonnais Waterfront Hotel on September 15, 2014 where Bloomberg’s emerging market specialists demonstrated the capabilities of their terminal in the

Mauritius trade deficit shrinks 18.1% in Jan-Mar 2014 on lower imports

Mauritius trade deficit has shrunk by 18.1% overall for the first quarter, after falling consecutively for the months of January by 12.6%, February by 29.4% and March by 18.7%. The difference between Mauritius’ imports and exports narrowed by 18.1% to Rs 14.23 billion ($471.66 million) in the first quarter of 2014 from Rs 17.383 billion a year earlier on the back of lower imports, according to Statistics Mauritius data released

Mauritius trade deficit for February improves by 29.4% on export boost

Mauritius monthly trade statistics for February 2014 showed that higher exports helped lower the island economy’s trade deficit by 29.4% to Rs 3.29 billion compared to the year-ago period, according to a report released by Statistics Mauritius yesterday. Also, compared to the previous month, the trade deficit narrowed by as much as 35.3% in February 2014. Data from Statistics Mauritius showed that the overall value of exports rose by 12.8% to

Moody’s maintains Mauritius’s Baa1 credit rating

Moody’s Investors Service maintained its credit rating of Baa1 for Mauritius in its latest country-wide evaluation, citing the “resilience and diversification of the local economy and robust institutional capacity” as reasons for maintaining its stable outlook on the island economy. However, the report, released on March 31, went on to note that any improvement in the country’s rating is restricted by “unfavourable debt metrics and the island economy’s vulnerability to

Mauritius’ current account deficit worsens to Rs 36.2 billion in 2013

Mauritius faced a significant, 44.8% deterioration in its current account deficit last year, which hit Rs 36.2 billion in 2013 compared to Rs 25 billion in 2012. It may be noted that the current account deficit largely addresses the difference between exports and imports of goods and services, besides other sources of income such as payments made within the economy by global businesses. The Balance of Payments of Mauritius, recently

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