Tuesday, April 06, 2010

Island of Mauritius' Future Looking Bright

The island off the Eastern coast of Africa signed its largest foreign aid deal with the European Union in March 2010. 93 Million Euro will be injected into Mauritius' economy to boost their economic and social reform. Estimates project the economy to grow 4.3% in 2010, up from 2.8% in 2009. The island is best known for its tourist attracting beaches along with textile and sugar exports--a $10 Billion economy.

The aid money will be dispersed between 2010 and 2011 and will complement the 10-year social and economic reform plan put in place in 2006. The World Bank has placed Mauritius in the Top 20 global economies with regard to ease of conducting business. This is just one example of African nations thriving in this economic downturn and the selflessness of foreign partners.

-Nick Mohazzabfar