As opposed to a free market system, Mauritius had in place a regime of direct monetary control. The then Bank Rate, deposit rates, lending rates and yields on Government papers were all 1/7  BIS central bankers' speeches  administratively set by the Bank of Mauritius. Transfers and payments for international trade transactions and capital transfers required prior approval of the Bank of Mauritius.
As for the financial environment, the environment for corporate finance is becoming somewhat more accommodative on the whole, although it is still severe for firms with high credit risks. The issuing environment for CP and corporate bonds is favorable on the whole, especially for firms with high credit ratings. Also, the lending attitudes of private banks have been slightly more accommodative.