Madam Speaker, the 2025 Spring Meetings of the IMF and the World Bank Group took place from 21 to 26 April in Washington. The Governor of the Bank of Mauritius, in his capacity as Alternate Governor representing Mauritius on the Board of Governors of the IMF, participated in the Spring Meetings. I wish to inform the hon. Member that Government already had extensive and fruitful discussions with the IMF and the World Bank; especially with the IMF, during its Article IV Consultation Mission. They were in Mauritius just a few days before the holding of the 2025 Spring Meetings. After having taken cognizance of the economic and fiscal quagmire in which the previous government has left our country, the IMF stressed the urgency for fiscal consolidation and strengthening of the monetary policy framework in order to secure financial stability.

29 The IMF further emphasised on the need for structural reforms to boost our external competitiveness, promote private sector-led growth, and enhance labour supply and skills. Further to discussions, the IMF has welcomed our commitment and efforts to implementing structural reforms as well as a credible medium-term fiscal consolidation plan. Madam Speaker, the World Bank has also looked at the precarious situation the previous regime has left us and has recommended ways to implement fiscal consolidation and economic revival. I can assure the House and the hon. Member that the valuable suggestions of both the IMF and the World Bank are being considered in the context of the budget preparation and our overall determination to reconstruct our economy and our society.

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