Mauritius International Reserves fall by Rs7 billion in one month

While all focus was on the 2022/2023 Budget and ensuing discussions, a note posted by the Economic Analysis & Research and Statistics Department of the Bank of Mauritius has revealed that the Gross Official International Reserves (GOIR) of the country decreased by Rs7.1 billion.

The drop is from Rs314.4 billion (equivalent to USD7,278.9 million) as at end-April 2022 to Rs307.3 billion (equivalent to USD7,069.8 million) as at end-May 2022.

Based on the imports of goods and services for calendar year 2021, the reserves represented 14.5 months of imports as at end-May 2022, compared to 14.8 months as at end-April 2022 and 14.6 months as at end-May 2021.

Mauritius’ international reserves have not been as low over the 12 month period ended May 2022.