The Commission of Inquiry about drug traffic related problems has recommended the issue of a family of new banknotes to flush out all the cash coming from drug traffic and money laundering.
The Bank of Mauritius is expecting a directive from the Ministry of Finance to issue them. Probably the process will star soon. Its cost is estimated at MUR 600 million (approx. USD 17 million).
Functionaries of the Bank have already met representatives of Thomas De La Rue and Oberthur to discuss the project.
Several experts have warned the Bank of Mauritius to avoid the mistakes made by the Reserve Bank of India, which created panic among the public with a poorly planned demonetization of the 500 and 1,000 rupees banknotes.
©2018 Monetary Research Institute
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