Government of Mauritius: FAQ on policy effectiveness, public finances and growth

Government of Mauritius Baa3 stable: Regular update - Credit Opinion – 2024/01/24 – US$ 250.00 – ...Mauritius' credit profile reflects its robust governance and institutions,including a business- friendly investment environment. This helps attenuate the risks from the sovereign's exposure to environmental risks....

Government of Mauritius Baa3 stable: Regular update - Credit Opinion – 2023/07/25 – US$ 250.00 – ...Mauritius' credit profile reflects its relatively high debt burden, and its small size and exposure to shocks, set against a business-friendly investment environment, which has historically supported relatively high and stable growth rates. Robust governance and institutions help attenuate Mauritius' exposure to environmental risks....

Government of Mauritius - Baa3 stable: Annual credit analysis - Issuer In-Depth – 2023/05/26 – US$ 750.00 – ...The credit profile of Mauritius reflects its dynamic and reasonably diversified economy, which, along with a stable and investment-friendly business environment, has historically supported stable growth rates. The government has a track record of sound economic policy, and has demonstrated a high degree of adaptability to changes in the external environment, which supported economic growth and diversification, and higher per capita income. Robust institutions and governance help attenuate Mauritius' exposure to environmental risks. Mauritius' main credit constraints stem from a relatively high government debt burden and high dependence on tourism. Notwithstanding the government's efforts to the diversify the economy, including the development of an offshore financial sector, its small size and high openness to trade make it vulnerable to external shocks. The stable outlook incorporates our view that the headline fiscal and debt metrics will further improve, with the debt burden falling...

Government of Mauritius Baa3 stable: Regular update - Credit Opinion – 2023/01/30 – US$ 250.00 – ...Mauritius' credit profile reflects its relatively high debt burden, and its small size and exposure to shocks, set against a business-friendly investment environment, which has historically supported relatively high and stable growth rates. Robust governance and institutions help attenuate Mauritius' exposure to environmental risks....

Government of Mauritius Baa3 stable: Update following methodology update - Credit Opinion – 2022/12/06 – US$ 250.00 – ...[1] Fiscal years ending June 30, e.g. 2019 refers to fiscal year 2018/19 [2] Current Account Receipts [3] Excludes re-exports [4] (Short-Term External Debt + Currently Maturing Long-Term External Debt + Total Nonresident Deposits Over One Year)/Official Foreign Exchange Reserves [5] Series break in 2009 Source: Moody's Investors Service...

Government of Mauritius Baa3 stable: Update following rating downgrade to Baa3, change of outlook stable - Credit Opinion – 2022/07/28 – US$ 250.00 – ...Mauritius's credit profile reflects its relatively high debt burden, as well as its small size and exposure to shocks, set against a business-friendly investment environment, which has historically supported relatively high and stable growth rates. Robust governance and institutions help attenuate Mauritius's exposure to environmental risks....

Moody's downgrades Mauritius's rating to Baa3, changes outlook to stable - Rating Action – 2022/07/28 – US$ 180.00 – To the extent permitted by law, MOODY'S and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability to any person or entity for any indirect, special, consequential, or incidental losses...

Government of Mauritius Baa2 negative: Annual credit analysis - Issuer In-Depth – 2022/05/18 – US$ 750.00 – ...The credit profile of Mauritius reflects its dynamic and reasonably diversified economy, which along with a stable and investment-friendly business environment has historically supported very stable growth rates. The government has a track record of sound economic policy and has demonstrated a high degree of adaptability to changes in the external environment. Mauritius's main credit constraints stem from a relatively high government debt burden and a relatively high dependence on tourism. The economy's small size and high openness to trade make it vulnerable to external shocks. Materially lower growth and larger fiscal deficits could result in a permanently higher debt and interest burden. The negative outlook reflects the mutually reinforcing downside risks from a slower recovery in the tourism sector than we currently expect, with spillovers to the rest of the economy, which would exacerbate the erosion of fiscal strength. The negative outlook also captures risks related to some pandemic-related...

Government of Mauritius Baa2 negative: Regular update - Credit Opinion – 2022/05/11 – US$ 250.00 – ...Mauritius's credit profile reflects its relatively high debt burden, as well as its small size and exposure to shocks, set against a business-friendly investment environment, which has historically supported relatively high and stable growth rates. Robust governance and institutions help attenuate Mauritius's exposure to environmental risks, particularly natural capital risks and susceptibility to weather-related events....

Government of Mauritius: Removal from FATF grey list will ease external vulnerability risks - Issuer Comment – 2021/10/28 – US$ 200.00 – ...On 21 October, Mauritius (Baa2 negative) was formally removed from the Financial Action Task Force's (FATF) list of jurisdictions for increased monitoring, after being placed on the so-called grey list in February 2020 because of deficiencies in its anti-money-laundering and combating the financing of terrorism (AML CFT) regimes. Removal from the grey list removes a significant risk for local banks' foreign activities and encourages capital flows into the country, ensuring Mauritius's reputation as an attractive, low-cost international financial center for Africa-focused investors. As an off-shore financial center, Mauritius's confidence- sensitive off-shore deposits influence its external position. Maintaining competitiveness in a strict global regulatory environment is paramount for the country's economic recovery. We forecast 2022 GDP will accelerate to 6.7% from around 5.0% in 2021, and that the current account deficit will narrow. With business flows likely to remain stable or improve,...