At the time Mauritius was acquiring its independence, our country was in depression, suffering from a mass exodus of its best brains whether from the banking profession or from the teaching profession – in fact all those who could afford it were leaving the country for other lands – for greener pastures. The unemployment rate had reached unprecedented levels.
While remaining on the downside, the risks surrounding the economic outlook for the euro area have become more balanced on account of our monetary policy decisions and oil price and exchange rate developments. BIS central bankers’ speeches  1  Inflation bottomed out at the beginning of the year.