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AfricaMoney | October 16, 2017

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Bank of Mauritius notes gross domestic debt at Rs 171.8 bn at end-June 2015

Bank of Mauritius notes gross domestic debt at Rs 171.8 bn at end-June 2015

The Bank of Mauritius survey shows that the annual growth rate of the monetary base was 15.2% in June 2015, up from 13.1% in May 2015, while another statement shows that the gross domestic debt of the bank stood at Rs 171.8 bn at end-June 2015, with medium term obligations being the main source of liabilities.

The Bank of Mauritius released on 14 July 2015 its survey for end of June 2015, which shows that the monetary base went up by Rs 790 million or 1.1%, from Rs 70,804 million at end-May 2015 to Rs 71,594 million at end-June 2015, as against a decrease of 5.8% registered between end-April 2015 and end-May 2015.

The rise in monetary base reflected mainly increase in Liabilities to Other Depository Corporations, with the annual growth rate of the monetary base standing at 15.2% in June 2015, up from 13.1% in May 2015.

On the sources side of the monetary base, net foreign assets of the bank went up by Rs 453 million or 0.3%, from Rs 138,175 million at end-May 2015 to Rs 138,628 million at end-June 2015.

Net Claims on Central Government increased by Rs 1,164 million, from – Rs 22,878 million at end-May 2015 to – Rs 21,715 million at end-June 2015.

Besides the monetary survey, the BOM also released the budgetary central government gross domestic debt for Jun 2014 – Jun 2015 where the central government found itself with a gross domestic debt of Rs 171.8 billion at the end of June 2015.

Central bank data shows that the level of this debt has decreased, compared to May 2015 when it amounted to Rs 173.2 billion, but that the amount remains higher than that of April 2015 where  it stood at Rs 169.9 billion.

On an annual basis, the debt level edged higher by 9.4% from Rs 157.0 billion in June 2014 to Rs 171.9 billion in June 2015, where May 2015 recorded the highest level of government debt over a period of one year with Rs 173.2 billion.

The distribution of the gross domestic debt of the central government mainly comprised of medium term obligations, followed by short-term obligations and long-term obligations.

Medium Term obligations stood at Rs 79.0 billion for June 15, which accounted for 46.0% of total gross domestic debt. It may be noted that the obligation increased by 19.8% since June 2014 when the amount stood at Rs 65.9 bn.

As for short-term obligations, which accounted for 27% of gross domestic debt, the amount was Rs 46.3 billion, which represented a drop of 13.9% compared to June 2014 when the amount stood at Rs 53.8 billion.

Finally, long term obligations stood at Rs 46.5 billion in June 2015, which is an increase of 24.8% over June 2014 when the amount was only Rs 37.3 billion.

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