The EMEs including China, Indonesia, Malaysia and Russia have been maintaining current account surpluses since 1998 while some others have maintained current account deficits. External debt reductions have been particularly significant in Indonesia, Russia, Brazil, and also in Argentina following the 2005 debt exchange. Fourth, the EMEs have a wide variety of exchange rate arrangements.
The Mauritius IFC continues to attract robust financial flows as global economic activities picked up from pandemic level, and cross-border investment activities continue to remain buoyant.