Under the existing procedure, remember, a large part of the assistance loans go towards paying off legacy creditors. This lets those legacy creditors, such as banks, off the hook – at the expense of taxpayers. Extending maturities, on the other hand, would leave them on the hook, and they could be still held liable if debt is restructured down the line.
Bank of Mauritius The Bank of Mauritius has the responsibility of maintaining the stability of the payments and financial system. This responsibility hinges on the orderly development and efficient functioning of the system.