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Economy / Mauritius

Looking For External Support

June 2009 | Risk Summary

Finance Minister Ramakrishna Sithanen stated on June 11 that he was in negotiations with the African Development Bank to secure a loan to help the country deal with the impact of the global recession. We note that the ADB has recently given its largest loan ever (US$1.5bn) to Botswana, one of sub-Saharan Africa's best-managed countries, alongside Mauritius. No amounts have been discussed, but for comparison, Botswana received US$1.5bn and its 2009 budget and current account deficits are forecast to equal US$800mn and US$140mn respectively. For Mauritius, we are forecasting an even larger budget deficit of US$510mn and current account deficit

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