Mauritian central bank to use $2 billion of reserves to fund firms

Harvesh Seegolam
Harvesh Seegolam, governor of the Bank of Mauritius
Bank of Mauritius

The Bank of Mauritius will use up to $2 billion of its foreign exchange reserves to directly support large firms damaged by the coronavirus pandemic.

The central bank will also issue instruments in its own name to provide the government with another $1.5 billion in funding, governor Harvesh Seegolam said at the end of May.

Seegolam said the central bank is “resorting to this issuance for the reason that there is and will be ample rupee liquidity on the market”.

He added: “These monetary

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