PORT LOUIS – Mauritius needs to tighten monetary policy and modernise its framework to respond to shocks and tackle inflationary pressures, the International Monetary Fund said.
In a statement late on Monday, the IMF said its directors had noted on their yearly consultative mission to Mauritius that “inflation has picked up on the back of supply shocks, but there are signs of further building inflationary pressures”.
“The mission recommends tackling inflationary pressures by tightening monetary policy, while modernizing the monetary policy framework to strengthen policy response to shocks,” it said.
The Indian Ocean island’s Key Repo Rate (KRR) has been held steady at 4 percent over the last year.
The IMF mission said it expected headline inflation to remain above 5 percent during the second half of 2017 onwards, mostly on account of second-round effects.
Mauritius’s inflation fell to 5.3 percent year on year in July from 6.4 percent a month earlier, data from its statistics office showed.
The fund also projected real GDP growth in 2017 at 3.9 percent on the back of improved performance in the construction sector. The forecast is in line with the government’s projections.
Source – Reuters
THE ROTTEN FISH: CAN OF WORMS OPENED OF APC & TINUBU'S GOVERNMENT OVER NIGERIA'S ECONOMIC DOWNTURN
WATCH THE CRITICAL ANALYSIS AND KNOW THE RESPONSIBLE PARTIES TO BLAME FOR NIGERIA'S ECONOMIC CHALLENGES, WHILE CITIZENS ENDURE SEVERE HARDSHIPS.Watch this episode of ISSUES IN THE NEWS on 9News Nigeria featuring Peter Obi's Special Adviser, Dr Katch Ononuju, 9News Nigeria Publisher, Obinna Ejianya and Tinubu Support Group Leader, McHezekiah Eherechi
The economic crisis and hardship in Nigeria are parts of the discussion.
Watch, leave your comments, and share to create more awareness on this issue.
#9NewsNigeria #Nigeria #issuesInTheNews #politics #tinubu THE ROTTEN FISH: CAN OF WORMS OPENED ...
DON'T FORGET TO SUBSCRIBE AND LEAVE YOUR COMMENTS FOR SUBSEQUENT UPDATES
#9newsnigeria #economia #economy #nigeria #government @9newsng
www.9newsng.com