IMF Not That Big A Deal Anymore

The Mauritian authorities have recently stated that they are in talks with the IMF to secure financing if the global economy weakens further in 2010. Given our own forecast for a 0.5% recession in Mauritius, compared to the IMF's more optimistic forecast of 2.1% positive growth, we believe there is a risk Mauritius will actually draw on the IMF flexible credit line earlier than the proposed 2010. Given the extent of the current global downturn, we would not expect any loans to be contingent on significantly onerous

To read the full article, please choose one of the following options: