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PUBLIC NOTICE: TREATMENT OF THE ONE-OFF EXCEPTIONAL CONTRIBUTION OF RS60 BILLION TO GOVERNMENT

7 May  2021

On account of the COVID-19 pandemic, the Bank of Mauritius (Bank) had announced in May 2020 a one-off exceptional contribution of Rs60 billion to Government in line with section 6(1) (oa) of the Bank of Mauritius Act for the purpose of stabilising the economy.

As the Bank approaches its financial year end, in the interest of transparency, the Bank informs the public that the treatment of the Rs60 billion in its books is as follows:

  1. An amount of Rs32 billion has been written off from the Special Reserve Fund;
  2. The remaining balance of Rs28 billion is being treated as advance against future profits distributable to Government.

The above treatment has been made in line with consultations with the Technical Assistance Mission of the International Monetary Fund (IMF).