The BoP shows increasing dependence on GBCs

(Published in L'express 07 April 2021)

With the advent of Covid, our balance of payments swung from a surplus of Rs 33 bn in 2019 to a deficit of Rs 21 bn in 2020, or a worsening of about Rs 50 bn after successive surpluses since 2006. We have not fared so badly in 2020 .

"The Deputy PM who once thought of doing politics differently !!!

We could not have avoided the possibility of a second wave. C'est le Premier Ministre adjoint qui nous le dit “Le risque de résurgence du virus à Maurice était inévitable”.

The MIC : another uninspired and misguided concoction

At the time of creation of the MIC , we had commented that they are making themselves downright risible by appointing Meghnad Desai as chairman of Mauritius Investment Corporation Ltd-an ex- professor of 80 years old and a board of yes-man who do not seem to be quite conversant with the nitty-gritty of specialised investments and projects.

Damning Audit report : Couldn’t have been worse !!!

Shocking!

Scarcely credible Payadachy- a 25% reduction in recurrent expenditure !

The 2021-2022 Budget Circular has called on all Ministries/Departments to reduce their recurrent expenditure by 25% so as to free up resources for accommodating new policy proposals. Ministries/Departments are expected to ensure judicious use of budgetary resources by leveraging on ICT, reducing wastage, controlling overtime, improving fleet and procurement management, optimising energy consumption, prioritising human resource requirements and exploring other possibilities for efficiency gains.

The Budget Deficit : Caught in their own lies !!!

Despite the measures taken by Government, such as the Wage Assistance Scheme, the Self-Employed Assistance Scheme and other support provided to businesses and individuals to mitigate the negative impact of the pandemic on the economy , the recovery plan to propel Mauritius into the era of innovation and new technologies, the ambitious projects like the Côte d’Or Data Technology Park , Pharmaceutical Industry …, our magician ,our Chancellor of the Exchequer, our Mr Payadachy, by one wave of his magic wand , assured us that Budget 2020-2021 will turn out to be a balanced budget.

The BoM at its old trick of depreciating the rupee before the Budget

You recall that some months before the 2019-20 Budget, the BoM started intervening aggressively (even putting pressure on banks to align their rate quotations to BoM pre-determined rates.) in the forex market to depreciate the rupee such that, by June 2019 , the Special Reserve Fund (which derives its funds mainly from the net valuation gains on foreign exchange reserves) had shot up by some Rs 7 billion to reach Rs 20 billion. An amount of Rs 18 billion was then transferred from the Special Reserve Fund to the Budget of which Rs 7 billion was drawn for the early repayment of our external debt. 

A question of preparedness !

I thought that it was not the time to start blaming the incompetents of this feckless regime ; we have more urgent things to do -like bonding together once more into our overpowering fist of unity and supporting the front liners to get us through these difficult times.

Maryé piké ensam, kuma pou Wakashio oil-spill, nou pou réussi…

Maryé piké ensam, kuma pou Wakashio oil-spill, nou pou réussi…

Pas le moment pou répan negativité dan nou pays !

The Fake News during a crisis

Malcolm de Chazal's famous dictum to the effect that "A Maurice on cultive la canne-à-sucre et les préjuges “ can be verified via the postings of some of our citizens on the net especially in the proliferation of fake news.

Bruno Laurette moves to centre stage

Indeed BL has no choice , he has to take centre stage filling up the vacuum left by the "mésentente" of the mainstream political parties.Perhaps he will be among the few who will help us to wipe off the recent smile/smirk that had started appearing on PJ's usually distraught face, pepped up by the lamentable game of musical chairs played by the disappointing parliamentary opposition.

Beware of a downgrading of our banks. Keep fingers crossed !!!

Published in l'express of 10 March 2021

If the dowgrading of the country's ratings is accompanied by a downward ratings of our main banks, the financial time-bomb will start ticking.

Breaking News : New claimants to royal lineage and entitlements

Given the recent developments in the Sherry-Royal case, there has been an increasing number of colleagues and friends, and even non-chatwas, who have started digging deep in their ancestry's history and family tree to find out if there is any royal lineage . As up to late, some five to six of them have been able to firmly establish some linkages to their royal ancestors. Some further probe and investigations are going on before these are made public. The sixth claimant has preferred to drop his claim as his ancestor King was guillotined by his subjects for treason and his calamitous reign.

The traditional yearly Grand Bassin show has started !!!

Cry beloved pilgrims !!!

Ban là pa pé prié dan Grand Bassin , zot pé fer enn show, the traditional yearly Grand Bassin show.

When you are praying or meditating, whether individually or collectively, it’s private , it’s discreet , it is not a "tamtam" with the useless, tedious MBC TV coverage ( a complete waste of taxpayers' money) and the display of politicians and fawning socio-cultural groups.