World Bank Classifies Mauritius as High-Income Country
In its communiqué dated 1st July 2020, the World Bank has reported the classification of Mauritius as a high-income country for the first time. With a per capita income in 2019 of $12,740 at market exchange rates, the island has graduated from being an upper-middle income country to a high-income nation.
The World Bank Representative of Mauritius, Mr. Erik von Uexküll, has stated that this classification has been done over 2019 data and does not yet reflect the economic impact of Covid-19. He also mentioned that there is a probability, due to the impact of COVID-19, of Mauritius returning to an upper-middle income country once 2020 data is factored in. Nevertheless, Mr. Uexküll said that this is a great achievement for Mauritius as it shows the efforts and dedication of generations of Mauritians to build a better future for their children.