Republic of Mauritius- IMF Executive Board of Directors congratulate Mauritius for solid macroeconomic performance, says Prime Minister

The statement was made by the Prime Minister, Minister of Home Affairs, External Communications and National Development Unit and Minister of Finance and Economic Development, Mr Pravind Kumar Jugnauth, at the National Assembly this afternoon, with regard to the International Monetary Fund (IMF) 2019 Article IV Consultation with Mauritius which was released on 23 April 2019.

In his statement, Prime Minister Jugnauth listed out the observations, recommendations and challenges highlighted in the IMF report and pointed out that he received a letter from the Executive Director representing the African region on the Executive Board of Directors of the IMF acknowledging the significant progress made by Mauritius to strengthen the anti-money laundering and combating the financing of terrorism (AML/CFT) framework and, as a result, Mauritius has recently been upgraded by the Eastern and Southern African Anti Money Laundering Group (ESAAMLG) on 12 recommendations. 

According to Mr Jugnauth, the Directors were reassured that important steps have been taken to align with international anti-tax avoidance standards, including the Base Erosion and Profit Shifting Project (BEPS) Action 5 and they welcomed the steps taken to comply with the international anti-tax avoidance initiatives.

The Prime Minister also recalled that the Executive Director emphasised Mauritius’ strong commitment to enhance external competitiveness, notably through structural reforms aimed at improving the business climate, boosting productivity and enhancing labour market efficiency.  In this context, new bilateral and multilateral free trade agreements are being negotiated, including with African States under the Government’s Africa Strategy; vocational training and innovation are being promoted; and many initiatives were launched to support female workforce participation as well as to facilitate access to finance for Small and Medium Enterprises (SMEs).