The Mauritian foreign affairs minister, Arvin Boolell, has proposed the setting up of an "African Restructuring Facility" in order to save companies and employment on the African continent. - Boolell stated that the international community and the G20, with the help of the African Bank of Development (ABD) and the International Financial Corporation, should seriously consider this option so as to help Africa to face the difficult situation prevailing around the world due to the economic crunch. “We are ready to provide for the necessary conditions to offer such a service in Mauritius. We also suggest the setting up of a new service which would provide assistance to perfor…

The European Commission on Thursday signed a deal to allocate an amount of 32.3 million Euros (Rs 1.4 billion) to Mauritius for the second phase of its budgetary support programme for that country. - The Mauritian party was represented by the vice-Prime Minister and Minister of Finance and Economic Empowerment, Rama Sithanen, while the European Commission was represented by Claudia Wiedey, head of delegation of the European Commission in Mauritius. The programme, "Improved Competitiveness for Equitable Development II" (ICED II) is financed from the budget of accompanying measures which has been granted to the countries which are signatories of the sugar protocol with the Europea…