Importers Struggle Despite Central Bank’s Exchange Interventions

Mauritius, heavily reliant on imports, faced a trade deficit of Rs 47 billion in Q2 2023, a 17.9% increase from the previous quarter.

Availability of foreign exchange is crucial for importers, who often report a shortage hindering their operations.

Despite four interventions by the Bank of Mauritius (BoM) in September, Governor Harvesh Seegolam stated that the situation has improved, with reduced interventions compared to last year.

However, importers like Dream Price Supermarkets and Funny Traders Co. Ltd still find it challenging to obtain necessary foreign exchange, impacting their businesses.

Some have resorted to alternative financing methods.

Source: Defi Media