The Bank of Mauritius is equally considering the possibility of a phase-in period of one year for provision levels to be met so that financial institutions have ample time to make the necessary adjustments. In March 2019, the Bank of Mauritius conducted a workshop on IFRS9 in collaboration with the Mauritius Bankers Association and a consultancy firm.
As foreign investors have played a large part in the financing of this investment, a move to the production phase should result in reduced capital inflows. At the same time, the increase in resource export volumes should increase the resources sector’s export revenue.