The Non-Citizens (Property Restriction)(Amendment) Act

Why this urgency ?

Government pretends that it brought these amendments to “clamp tighter controls on the purchase of real estate by foreign nationals” and thus “enable Mauritian households aspiring to home ownership to achieve their goal." They are selling this amendment as a long-due introduction of the necessary controls on foreign home ownership to give more protection to aspiring homeowners in our country and prevent foreign nationals to circumvent our legislation regulating land ownership, to acquire property in Mauritius.

Supplementary Appropriation 2020-21 Bill

The Supplementary Appropriation 2020-21 Bill provides for additional expenditure of Rs 17bn, of which the bulk relates to an equity injection of Rs11.9 bn into the National Property Fund. As I mentioned in November last when the bill was supposed to be taken up , the cost of dismantling the BAI could well reach a final amount of Rs20 bn and that the public will be footing the bill in the coming years, after having been fed with illusions of high returns from the outright sale of NIC, Maubank, Apollo Hospital, and other BAI assets."

La loi scélérate ICTA: Péna Simé !!!!

Gouvernma pas pou abondoné lor la loi scélérate ICTA, kroir moi !!!

The latest Moody’s Report ( 15 Apr 2021)- Banking System Brief

Main Highlights and impact :

Is our economic tide lifting all boats ?

Going through Sithanen's interview in the latest edition of the Week-End newspaper, the reader cannot afford not to be impressed by our master crafter’s articulate display of the right intellectual sound bites- Technical Rebound , the Scarring Effect, Business Model, Liquidity et Solvency, Creative Destruction, good money after bad money , an unprecedented crisis with direct consequences, we have to think out of the boxes and disrupt the system otherwise we will be disrupted , cette dimension d’Attractiveness, Unity of Purpose and the Collective Patriotic Effort.

Concern for Social Cohesion ?

I recall the IBL boss crossing swords with the then Minister of Economic Development, Financial Services and Corporate Affairs quite some time back in 2003.

The Minister was launching the Code of Corporate Governance for Mauritius and in his speech he had highlighted that the key objective of the corporate governance reform was to enhance shareholder value and corporate efficiency.

Ocean Economy- Emerging pillar of growth.

Instead of wasting taxpayers’ money, touring the world selling Mauritius as a business destination, which has however succeeded in only attracting investors in the real estate market, EDB could prove itself to be more useful by reactivating the “Ocean Economy “ project.

The accelerated depreciation of the rupee : a deliberate policy choice

Surprisingly it is not the BoM-which decides about our monetary policy stance-that is trying to justify the deliberate policy choice of an accelerated depreciation of the rupee , it is the so-called think tank (sic) of government-the EDB

They claim that their back-of-the-envelope analysis has led them to conclude that the depreciation of our rupee is leading to a considerable increase in exports to our main markets, …….You know what happens when monkeys are allowed to play with razor blades, they end up hurting themselves. This is what you can expect when the EDB tries its hands at what it calls analysis which is actually some simplistic and erroneous calculations as we do show below.

Latest IMF figures

From WEO(Apr 2021) and Fiscal Monitor

The failure of our education system !

When I see our kids braving the risks of catching the virus to sit for their PSAC exams, I feel so sad . All these struggles for very little returns. That's the reality of our education system that has ended up being very costly both in efficiency and effectiveness. The education system, that has served us so well in the past, can no longer foot the bill; it has serious weaknesses that are inadequate for meeting our future needs and it perpetuates inequalities in opportunity .

No excuses to this crowd of thugs and incompetents !

To a parliamentarian's posting that

“S'excuser dans le cadre des suspensions de mardi dernier au Parlement, equivaudrait a soutirer le viol permanent de la democratie.”