However, one cannot ignore the fact that the recent financial crisis that rocked the global economy is closely related to a crash in subprime mortgage lending in the United States, the so-called CDS or credit default swap.
While taking lessons from the global financial turmoil, the Bank of Mauritius remains committed to its goal of maintaining the soundness and stability of the financial system in Mauritius. Stakeholders should therefore aim at ways to improve access to housing finance in a sustainable way. Ladies and gentlemen, you will concur that affordability remains a major challenge in housing markets in Africa.