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If you wish to view this edition of our ITL e-News in PDF, please click on the link below.
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COVID-19 – Lockdown in Mauritius
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| The COVID-19 outbreak is a human tragedy and has a growing impact on the global economy. In Mauritius, the first cases of the COVID-19 were reported last week and the government has instituted a lockdown period of 14 days on the country since Friday 20 March 2020 in a bid to contain the pandemic which will eventually help in flattening the curve. |
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COVID-19 – Important Communiques from the Local Authorities |
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| Further to recent announcements made by the Government with regard to the national confinement, the Mauritian Authorities have subsequently taken a number of proactive measures as described in their communiques, including the following: |
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Bank of Mauritius adjusts Key Repo Rate to 2.85%
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At its meeting on 10 March 2020, the Monetary Policy Committee (MPC) of the Bank of Mauritius decided to slash the Key Repo Rate (KRR) by 50 basis points, bringing it down to 2.85% per annum. The Committee discussed economic and financial developments at the global and domestic levels to make their decision. Policymakers intend to support domestic activity as the coronavirus outbreak is expected to have a significant impact on consumer and business confidence, which can potentially dent domestic spending and investment. In this context, the bank revised down its growth projections to 2.6-2.8% in 2020 (previously seen at 4%). Meantime, the headline inflation forecast was set at 1.5% in 2020, as both headline and core inflation have remained low.
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Democracy Index 2019: Mauritius a “Full Democracy” and ranks 1st in Africa, 18th worldwide |
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| The Economist Intelligence Unit’s Democracy Index 2019, released in January 2020, ranks Mauritius 1st in Africa and 18th worldwide.
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The Africa Prosperity Index |
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| The Africa Prosperity Report provides a comprehensive and holistic picture of prosperity across the African continent. It assesses whether each nation has an inclusive society with strong institutions, an open economy, and empowered people who are healthy, educated and safe. Based on the Legatum Prosperity Index, this report has been developed as a practical tool to help identify what specific action needs to be taken to contribute to strengthening the pathways from poverty to prosperity globally. It consists of 12 pillars of prosperity such as health, education, and social capital, built upon 65 actionable policy areas (elements), and is underpinned by 294 indicators.
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| The 2019 Human Freedom Index report published by the Fraser Institute ranks Mauritius 1st in Sub Saharan Africa and 50th worldwide. A total of 162 countries participated.
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2020 Henley Passport Index and Global Mobility Report |
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| The 2020 Henley Passport Index and Global Mobility Report is a unique publication that offers exclusive insight into mobility and migration patterns, bringing together commentary from leading scholars and professional experts on the major and emerging trends in global and regional mobility today. |
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DISCLAIMER The information in this e-newsletter was prepared by Intercontinental Trust Limited to provide potential clients with a broad overview of the opportunities available in Mauritius. While all reasonable care has been taken in the preparation of this e-newsletter, Intercontinental Trust Limited accepts no responsibility for any errors it may contain, whether caused by negligence or otherwise, or for any loss, however caused, sustained by any person that relies on it. Readers are advised to consult with appropriate, qualified professional advisors before taking action. Intercontinental Trust Limited will be pleased to discuss any specific issues.
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