Mauritius: Staff Report for the 2019 Article IV Consultation

IMF Staff Country Reports, April 29, 2019

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Mauritius: Staff Report for the 2019 Article IV Consultation

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Bibliographic details

• Published: April 29, 2019
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781498311946.002

Key findings and outlook

• Mauritius is pursuing an ambitious strategy to foster inclusive growth and reach the high-income country milestone.
• Near-term economic activity is expected to be spurred by public spending on infrastructure projects.
• Medium-term growth is expected to be sustained as infrastructure projects and productivity-enhancing reforms improve private-sector competitiveness.
• The authorities are advised to pursue fiscal consolidation from the forthcoming budget FY2019/20 to build fiscal credibility and set public debt firmly on a declining path into the medium term.

Structural challenges

• Major constraints identified:
  • A shortage of suitably skilled workers.
  • An aging population.
  • Declining productivity and cost competitiveness.
• These structural issues confront Mauritius in meeting its high-income country objective.

Policy discussions and priorities

• Discussions focused on:
  • Preserving fiscal sustainability.
  • Regaining external competitiveness.
  • Maintaining financial integrity and stability (including AML/CFT concerns).
• Several steps have been undertaken to:
  • Boost skill development.
  • Improve the business climate.
  • Build innovation capacity.

Fiscal and expenditure stance

• Public spending on infrastructure is a key near-term fiscal driver.
• Recommendation: pursue fiscal consolidation beginning in FY2019/20 to:
  • Build fiscal credibility.
  • Put public debt on a declining path into the medium term.

Analytical scope and thematic coverage

• Subjects covered include:
  • Anti-money laundering and combating the financing of terrorism (AML/CFT)
  • Banking
  • Budget planning and preparation
  • Crime
  • Economic and financial statistics
  • Financial statistics
  • Fiscal policy
  • Fiscal stance
  • Public debt
  • Public financial management (PFM)
• Keywords associated: Africa; Anti-money laundering and combating the financing of terrorism (AML/CFT); authority; Budget planning and preparation; CR; debt outlook; East Africa; Financial statistics; Fiscal stance; GDP; Global; ISCR; liability positions vis-à-vis nonresident; Mauritian authorities; Mauritius; monetary policy stance; policy; policy priority; Southern Africa; Sub-Saharan Africa; support scheme.

Publication identifiers and document facts

• Pages: 84
• Volume: 2019
• Issue: 108
• Series: Country Report No. 2019/108
• DOI: https://doi.org/10.5089/9781498311946.002
• ISBN: 9781498311946
• ISSN: 1934-7685
• Publication date: April 29, 2019

International Monetary Fund. Mauritius: Staff Report for the 2019 Article IV Consultation (April 29, 2019).

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