Mauritius: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Mauritius

IMF Staff Country Reports, May 28, 2024

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Canonical URL: Mauritius: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Mauritius

The 2024 Article IV Consultation discusses that Mauritius has rebounded strongly from the pandemic on the back of buoyant tourism, social housing construction, and financial services.
The outlook for growth remains favorable, headline inflation is projected to ease further, and public debt is projected to continue moderating over the medium term.
Risks to the outlook are on the downside, including from deterioration in global growth, higher-than-anticipated fuel and food prices, and extreme climate events.

Growth: outlook remains favorable (no specific numeric growth rate provided in source content).
Inflation: headline inflation is projected to ease further (no specific numeric projection provided in source content).
Public debt: projected to continue moderating over the medium term (no specific numeric projection provided in source content).
Downside risks:
- Deterioration in global growth.
- Higher-than-anticipated fuel and food prices.
- Extreme climate events.

Recalibrate the macroeconomic policy mix to rebuild fiscal and external buffers and maintain financial stability.
Strengthen the effectiveness of the new monetary policy framework and stand ready to tighten the monetary policy stance should inflationary pressures re-emerge.

Achieving high-income status will require continued structural reforms to promote competitiveness and economic diversification.
Advance structural reforms, including:
- Bolster skills in the domestic labor market and support female labor force participation.
- Foster digitalization.
- Enhance climate-resilient infrastructure investment.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Central bank policy rate, Crime, Financial sector policy and analysis, Financial sector stability, Financial services, International organization, Monetary policy, Public debt
Keywords: Africa, Anti-money laundering and combating the financing of terrorism (AML/CFT), B. managing inflation pressure, Central bank policy rate, CPI compilation method, Financial sector stability, flash GDP estimate, Global, monetary policy transmission, money market rate, TA mission

Source: Mauritius: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Mauritius (May 28, 2024).