I&M Holdings PLC Financial Overview and Strategic Outlook
Economic Review - Mauritius
GDP
Country expects a recovery of 7.5% growth in 2021
following the projected contraction of 14.2% with the
announcements around COVID-19 vaccines offering
some glimmer of hope for 2021. How it should be noted
that global passenger travel is expected to take up to 4
years to return to 2019 levels.
Policy Measure on Impact of Pandemic
%
The government introduced several measures to
alleviate the impact of the pandemic including a
reduction in the cash reserve ratio, a special relief
support of MUR 5 billion, a moratorium on loan
repayments, and the creation of the MIC with a fund of
MUR 2bn to support the affected sectors of the
Economy. They have also placed on hold the revised
impairment recognition and measurement guidelines for
Banks.
Source World Bank Report: Global Economic Outlook June 2020
Economy
ā The country faces the challenge
of being listed on the EU
Blacklist. However, Significant
progress has been made to
remedy the five areas of
deficiencies identified under the
FATF Action Plan and, if matters
stay on course, Mauritius is
likely to be removed from the
list by mid-2021.
The borders have since
remained closed leading to
adverse consequences for the
hospitality sector the second
largest economic driver of the
country
Holdings
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