Africa Financial Sector Responses to COVID-19 - Mauritius

Jul 28, 2020

As a Partnership committed to the African financial sector (AFS) development and resilience, Making Finance Work for Africa (MFW4A) has implemented a number of recent initiatives to strengthen the resilience of the African financial sector.

In addition to its webinars series and discussions aimed at identifying the sector's difficulties and solutions, a portal dedicated to domestic and international responses to the impact of COVID-19 on the regional financial sector has been set up.  The exercise consists in monitoring, collecting and classifying by country or region the measures taken by governments, central banks and DFIs in in support of the AFS vis-à-vis the financial impact of the pandemic. 

This page presents measures and initiatives by the government of Mauritius, national central bank and Development Finance Institutions (DFIs) in support of a resilient domestic financial sector facing the effects of the COVID-19 pandemic.

Disclaimer: This page contains information and links from third parties. These links are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by MFW4A.

Instrument

Institution

Financing volume

Description 

Regulatory and monetary policy measures

Bank of Mauritius

USD 130 million

 (March 13, 2020) The central bank has taken a series of measures including:
* The reduction of the liquidity reserve ratio from 9% to 8%; 
* A recommendation to banks to suspend principal repayments on corporate loans; 
* Relaxing regulatory guidelines on the treatment of bad debts.

Monetary policy

Bank of Mauritius

USD 129,8 million

(March 25, 2020) The central bank injected liquidity equivalent to more than Rs. 5 billion (USD 129.8 million) as financial aid to the sectors most affected by the pandemic.