Mauritius | Finances

April 18, 2014

IMF Report: Mauritius Is Not a Developing Country with Low Income

The International Monetary Fund (IMF) said in its report on global economic prospects

''Difficult conditions of global finance or a slowdown in the economies of emerging markets could generate headwinds for middle-income economies that have strong links with outside producers of natural resources and boundaries'' economies. Growth in sub-Saharan Africa is as promising as compared to other countries. For this year, the growth is estimated at 4.8%, unchanged from 2012 and supported by an improvement in agricultural production. Mauritius is not considered as 'heavily indebted poor country’ or as 'low income developing country' in the report.

According to this paper here several countries in sub-Saharan Africa will experience good growth this year. The expected growth rate for Chad is 10.8%. Sierra Leone experience a rate of 13.9% while that of the Congo should be 8.1% and 8.3% of Mozambique. However, significant risks still exist for sub-Saharan Africa, the report says. Risks noted where domestic policy missteps can emerge in various countries, security threats and political uncertainty before the elections are also present. Therefore, the report recommends policymakers to avoid a pro-cyclical fiscal policy in high-growth countries. Address emerging risks in the countries that face the greatest major fiscal imbalances and vulnerabilities in these most vulnerable countries to external shocks and increase inclusive and sustainable growth are the points to consider in the report.

Olivier Blanchard, economic counselor at the IMF, which the report says, the recovery occurs in advanced economies. '' Fiscal consolidation is slow and investors are less worried about debt sustainability and banks gradually become stronger, he said, despite a full recovery is far, standardization and non-conventional monetary policy Conventional is on the agenda. About global growth, the IMF estimates it will odre 6.6% in 2014 and 3.9% in 2015. In advanced economies, growth is estimated at 2 ¼% in 2014 and 2015. Growth of 2,75% is expected in the United States and will be positive for the euro area.

 

Text by Le Matinal
 

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