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InterviewsDecember 3 2012

Mauritius looks to African markets as Europe falters

Mauritius, one of Africa’s most open economies, is suffering from Europe’s woes. But rather than attempting to isolate the country, its finance minister is trying to diversify its export markets and develop new industries.
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Mauritius looks to African markets as Europe falters

Back in the 1960s, Mauritius was seen as a basket case by its critics. A tiny, isolated Indian Ocean island with fewer than 1 million people at the time, and no natural resources, they predicted a bleak future for the country.

Today, Mauritius can count itself as one of Africa’s successes. With a gross domestic product (GDP) of $9000 per capita, the country far exceeds most others on the continent. Its tourism industry is world class and such is the strength of its finances and banking sector that it was upgraded by Moody’s in June to the equivalent of BBB+ (a level that only South Africa and Botswana can match among other African countries). In the World Bank’s latest Ease of Doing Business Survey, Mauritius came 19th worldwide, higher than Germany and Japan.

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