March 13, 2020 / 12:55 PM / 16 days ago

Mauritius central bank pumps in liquidity to support businesses

NAIROBI, March 13 (Reuters) - The Bank of Mauritius said on Friday it will offer 5 billion rupees ($131.06 million) in liquidity support to businesses, through commercial banks, to cushion businesses from the impact of the COVID-19 pandemic.

The bank said interest on the loans will be capped at a fixed rate of 2.5% per year and it also reduced the cash ratio reserve requirements for banks to 8% from 9% to boost lending. ($1 = 38.1500 Mauritius rupees) (Reporting by Duncan Miriri; Editing by Catherine Evans)

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