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Mauritius: 75% of households according to the association for the protection of the abused borrowers in debt

According to the association for the protection of abused borrowers (APEA) in Mauritius, three Mauritians households in four have difficulties to honour their debts and repay their credit.
The APEA president Michel Hardy thus wishes to be developed on the island "financial education" to individual borrowers, since 50% of Mauritian houses contract credits for consumption or for the acquisition of real property.

75% of households are thus struggling to escape to fulfill the monthly dues and 10% of the households who borrowed live situations of over-indebtedness can no longer pay the credits that accumulate.
According to the Bank of Mauritius (BOM) the households for the first quarter of 2013 debt ratio stood at 19.5 % of the gross domestic product (GDP) compared to 19.2% for the four months of 2012 and 17.7% for the first quarter of 2012, as relates the Le Défi Quotidien newspaper.

Fabrice François

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