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Public Notice: Extension by the Bank of Mauritius of specific measures under its COVID-19 Support Programme

10 June 2021

 

As part of its ongoing assistance to Mauritian businesses across all economic sectors, households and individuals, the Bank of Mauritius is extending specific measures under its existing COVID-19 Support Programme.

 

MORATORIUM ON LOANS

The moratorium on loans granted to economic operators, SMEs, households and individuals impacted by COVID-19 has been extended to 30 June 2022. Applications in that respect will be examined by commercial banks on a case to case basis.

 

SPECIAL RELIEF AMOUNT

The Special Relief Amount facility of Rs 5.0 Billion made available to banks by the Bank of Mauritius has also been extended to 30 June 2022. This amount aims at meeting cash flow and working capital requirements of economic operators directly impacted by COVID-19. Disbursement will continue to be effected through commercial banks and interest rate on these advances to impacted economic operators remains capped at the fixed rate of 1.5% per annum.

 

CASH RESERVE RATIO

The reduction of the Cash Reserve Ratio applicable to commercial banks from 9 per cent to 8 per cent has equally been extended to 30 June 2022. This reduction will further support banks to assist businesses which are being directly impacted by COVID-19.

The decision for the extension of the above-mentioned measures has been taken in consultation with the Mauritius Bankers Association Limited.

The Bank of Mauritius is closely monitoring the economic situation in the country and will take any measure it deems appropriate to maintain the stability of the financial system and protect the Mauritian economy.

 


Clarifications on the moratoriums on loans are available on the Bank’s website on: https://www.bom.mu/media/covid19actions/covid-19-support-measures-series-clarification-moratoriums-loans

 

Questions for any clarification may be sent to communications@bom.mu