Moody’s has downgraded Mauritius’s long-term foreign and local currency issuer rating to Baa2 from Baa1 and maintained the negative outlook. This reflects the weakening in fiscal and economic strength given the shock brought by the coronavirus pandemic.
The large share of economic activity, export earnings and employment derived from tourism and related sectors will weigh on the pace of the economic recovery which in turn will slow the pace of fiscal consolidation.
Source : African Markets
