Directors of the International Monetary Fund (IMF) underscored the need to expeditiously implement all the recommendations of the Eastern and Southern African Anti Money Laundering Group (ESAAMLG).
The IMF directors who met Mauritius officials appreciated on April 22 that the authorities’ efforts to bolster competitiveness by introducing effective and efficient initiatives to improve the business climate, build innovation capacity, reduce the skill mismatch, and increase female workforce participation. They said maintaining strong and independent institutions is essential to ensure the country remains an attractive investment and employment destination.
IMF directors welcomed the steps taken to comply with the international anti tax avoidance initiatives.
At the end of 2018 the group has detailed 40 recommendations for Mauritius, which enables the country to tackle money laundering. The assessment made by the group in most cases rated Mauritius as partially compliant to the guidelines that enables countries to fight money laundering.
In some cases such as, targeted financial sanctions related to terrorism and terrorist financing, Mauritius was rated as non-compliant. Mauritius also does not have in place a framework for the implementation of targeted financial sanctions without delay to comply with United Nations Security Council Resolutions, according to the assessment of the Group.