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Tuesday, May 30, 2023

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Decline In Our Gross Official International Reserves

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Gross Official International Reserves: End-April, 2022 the Gross Official International Reserves (GOIR) of the country decreased by Rs47.3 billion, from Rs361.7 billion (equivalent to USD8,131.2 million) as at end-March 2022 to Rs314.4 billion (equivalent to USD7,278.9 million) as at end-April 2022. Compared to end-April 2021, the GOIR rose by Rs12.2 billion. Based on the imports of goods and services for calendar year 2021, the GOIR represented 14.8 months of imports as at end-April 2022, compared to 17.0 months as at end-March 2022 and 14.2 months as at end-April 2021.

Gross official international reserves are external assets that are readily available to and controlled by the monetary authorities and the Government for the purpose of macroeconomic management and as safeguards against external shocks. Official reserve assets comprise the reserve holdings of the Bank of Mauritius, the country’s reserve position in the IMF and the foreign assets of the Government.

Gross Official International Reserves

Classification: Instruments included within the definition of reserve assets are classified into monetary gold, holdings of foreign currency, Special Drawing Rights, the reserve position in the IMF and the Government’s foreign currency balance held abroad. Holdings of foreign currency include securities as well as deposits with foreign monetary authorities, commercial banks, external fund managers and supranational bodies.

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