Bank of Mauritius spells out cost-cutting measures

Bank of Mauritius Tower

The Bank of Mauritius published a lengthy statement defending the state of its finances on May 23 – spelling out in stark language a range of measures it has taken to keep expenses down.

It reported a net loss of 284.1 million Mauritian rupees ($8.1m) in the year to June 2015, following a loss of 218.3 million rupees a year earlier. A key reason for this, the bank said, was the cost of sterilising excess liquidity in the market.

The bank said it had sterilised over 50 billion rupees worth of

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