According to Rama Sithanen, the only way of reducing the consequences of such crises would be to find other financial resources. However, “as Mauritius is considered as a middle-income economy, there is no possibility of benefiting from loans at preferential rates.” The Barbados meeting of the Commonwealth Finance ministers and the annual general assembly of the IMF and the World Bank in Washington were not only opportunities for Mauritius to express its needs but also to make contacts with eventual financial backers such as the IMF, the WB, the African Bank of Development (ABD) and the Arab Bank of Development (ABDEA).

The latter is planning a visit to Mauritius at the end of the year to see what projects it could finance. The WB proposed to give technical support to improve tax collection as well as the preparation of a country economic memorandum. Moreover the International Financial Corporation and the Commonwealth fund are thinking of financing projects to develop small and medium enterprises (SMEs).

The minister made a plea for a mixed solution: he requested that part of financing be at market rate and the other at a preferential rate. He also suggested that loans be granted in rupees to reduce risks linked to exchange rates.

This may indeed help to put Mauritius back on track… But it might not be enough. A successful change requires that the State stops its popular measures such as free transport or universal pension. Municipal elections are over and both public and private sectors have to go back to work – together!

<B>Energy-saving campaign</B>

The price of petrol has gone up from Rs 25.25 to Rs 29 while diesel has risen from Rs 17.25 to Rs 19.80 according to the Automatic Pricing Mechanism. Such a rise will not only impact on motorists but on the population at large. It will alsohave an undeniable impact on imported consumer goods, as freight costs are bound to increase. The government hopes to reduce the country’s dependence on petrol in the long-term but it will need the support of the population to succeed. The minister of Public utilities, Abu Kasenally, has launched a national energy saving campaign. The aim of this “aggressive campaign” through radio and television adverts is to enable the State to save Rs 200 million, which corresponds to domestic energy consumption. “We can achieve it if each Mauritian makes an effort to support energy preservation,” Abu Kasenally pointed out. The Central Electricity Board should also supply each house with a leaflet, giving measures and advice about how to reduce energy consumption.