IMF urges Mauritius to reform central bank

Bank of Mauritius made loan to government in 2020 and funds investment body with reserves

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The International Monetary Fund told Mauritius on May 7 to bolster the “central bank’s credibility and solidify an effective monetary policy”.

The advice, part of the fund’s Article IV consultation with Mauritius, came after the central bank had undertaken unusual interventions during the Covid-19 pandemic.

The Bank of Mauritius gave 60 billion Mauritian rupees ($1.5 billion) to the government in May 2020. The central bank also set up an investment corporation, the Mauritius Investment

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