Our 2022 growth surge of 7.8% explained !

The healthy growth numbers are slightly deceptive given the low base effect .

To put things in perspective:

The level of GDP in real terms in 2022 is still 5 % lower than the level attained in 2019. With a growth of 5% in 2023, GDP would increase from Rs 486 billion to Rs510 billion, or 99.7% of 2019 GDP.

When humility makes us real !

Some 14 hrs back, one of the breaking news in Financial Times was “We have no beds, we have no oxygen: Covid overwhelms Beijing’s hospitals." China’s coronavirus exit wave overwhelms one of the country’s best healthcare systems.

Rapid Inflation : Supply constraints or Policy ?

Some days back, in one local newspaper , the issue was raised that "interest rate increase to control inflation is not very effective as inflation is being caused by supply chain disruptions as opposed to too much money chasing too few goods "

Sak Zaco protège so montagne !

Le communal Harish Boodhoo(HB) ti éna raizon !

Get enn kou autour de nou !

Enn ti sport kuma football , mo pé bien dir sport, pé montré ki le communal HB avait raison !

Tollé sur la hausse du Key Repo Rate !

There is now an outcry from all quarters !

May be , a bit too late !

We are sorry that we have to say it , for some of our journalists , bloggers, analysts, economists, trade unionists and the then supporters of the unconventional financing measures taken by Govt and BoM during Covid and post-Covid , when we we needed your support , they were found lacking !

The show is on : Pension Populism and pleasing packages for our Senior Citizens

Reacting to the PM’s useless comments on pension, another ex-PM rushed in to clamour for his right to be included among the pension populists - he doubled the universal old-age pension in 1996. But he was not just satisfied with being acknowledged among the pension populist stalwarts, he tried to rope in, on his side, another ex-PM- PRB- in his criticism of the failed introduction of targeting for the BRP in 2004.

On the occasion of the International Anti-Corruption Day,

On the occasion of the International Anti-Corruption Day, I wish to highlight, for our readers, some of our corruption cases that have made the headlines.

“Ce pays cultive la canne à sucre et les préjugés” …et la corruption !

Do not lose hope ! Investigations are still ongoing…

JAGUTPAL ET SES CONNERIES : «SI SAK MORISIEN DESID FER BAN ZAFER PAREY, KOT NOU POU ALE?»

Ban Citoyens Morisyen,

ran moi enn servis, bez sa "kouroukoukou" enn coup dizef gaté !

Pou ki li arrêt so ban conneries !

The mythical phoenix keeps rising back, did Pada mean our inflation rate ?

Is the BoM failing to rein in inflation and protect living standards especially for the most vulnerable?

BoM kaput, its capital impaired ?

Repo rate rise fizette !

Boule finn viré !

Nishal finn fer enn déklik!

LePep pé crache lor zot !

Le commencement de la fin pou mafia ki au pouvoir !

Enn lePep finn enkoler, li dir ki nou ena enn cochon comme PM…

Kozé Chacho !

Fer la bouche dou avek augmentation pensions népli pou marché !

Ban tons pé dévir bol dal gardé !

Qu'il aille faire une grève de faim contre La Guerre en Ukraine, la véritable cause de cette hausse en prix du pétrole.”

Wrong, totally wrong; these are the arguments of some of our fake economists - that our failure to have a grip on inflation is because of the global hike in petroleum prices, freight rates, certain essential commodities, etc. !

Pinokio Assasin ! Anou sauv Nishal !

19 zour lagrev lafin pou bess pri lesans.

Lemosion ek respe imans, imans"

Nou bizin mobilisé !

Azordi soir , nous tous nou bizin alle Port Louis alle zoin Nishal Joyram !

Nou allume et lev nou mobile phone pou montré nou solidarité avek Nishal !

Zis nou solidarité kapav fer Nishal arrêt so la grèv de faim!

Anou sauv Nishal !

LePep finn répond Li, l’arrogant, spin dictator, PJ !

LE PM SUR LA GRÈVE DE LA FAIM DE JOYRAM :

« MONN FINI REPONN ZOT »

LePep finn arazé !

LePep finn boycott li dans la circonscription de Rivière-des- Anguilles/Souillac , zot finn alle soutenir massivman Nishal Joyram !

Le commencement de la fin pou sa rézim mafiosi-mafia la drogue ek mafia gambling !

This is how we reply to Pada’s “Phoenix Delusion” !

The Minister of Finance recently expressed an exuberant optimism about exports of goods and services of Rs292 bn in 2022 representing an increase of more than Rs80 bn over 2021. He also boasted of a real growth rate of 7.2% leading to a record GDP level of Rs550 bn in 2022, and crooned ecstatically of “un phénix qui renait de ses cendres”.

Pada and BoM fail to convince markets !

Pada and the BoM had argued that “ …the job of central banks is the pursuit of  price stability, not profit maximisation.” 

Typical Central Bank’s response : there is no cause for concern. They can always print money !!!

They also argue that other CBs are also making losses.

Le BoM persiste ….how long will the show go on ?

BoM just intervened and pushed up the MUR ....

As pointed out in the LM’s article in today’s l’express titled “BoM : le manque de crédibilité empoisonne le marché financier “, the Central Bank believes that “La banque dispose de réserves suffisantes pour faire face à de futures interventions si nécessaire.”

BOM Kaput updated

The Bank of Mauritius (BoM) capital is totally impaired, which will weigh down heavily on the central bank’s effectiveness in achieving monetary policy and financial stability objectives.

 

The latest statement of financial position published by the BoM reveals that an accumulated loss of of Rs11 bn was recorded between end June 22 and end Oct 22.  BoM capital and reserves at end Oct 22 are thus totally completely wiped out, following losses in August, Sept, and Oct 22. 

I love football but I love the respect for human rights more….

We support Nishal !

Be present today at Place Cathédrale to support Nishal !

«C'est juste pour dire que nous sommes affectés par cette situation inflationniste et que nous souhaitons que le gouvernement fasse en sorte de baisser les prix des carburants. Et qu'il diminue l'inflation à Maurice, redynamise l'économie et diminue ses dépenses. Je demande ces choses-là pour que le Mauricien vive mieux».

A waste of time !

I think that ReA wanted to give them, our traditional mainstream parties , a last chance to join forces, to really aim at changing the status quo, in every sense of the word.(Ref: Press Communique of ReA dated 17-11-22)

But it was a waste of time. I listened to some of the stalwarts of the PTR…what a deception !…I do not think this is what the ReA was expecting….

BoM Kaput !

The latest “Central Bank Survey” (CBS) of the Bank of Mauritius (BoM) shows that BoM capital and reserves at end Oct 22 are practically wiped out. The BoM’s capital is almost totally impaired, which will weigh down heavily on the central bank’s effectiveness in achieving monetary policy and financial stability objectives.

The item “Shares and Other Equity” in the CBS amounted to only around Rs1 bn at end Oct 22, compared to Rs13 bn in June 22, and Rs20 bn in Dec 21. This item essentially comprises (1) the BoM’s paid-up capital of Rs10 bn, (2) reserves of Rs3 bn held since June 22, (3) any comprehensive income or loss, as well as (4) some minor BoM liabilities.

A PM who is prepared to stoop so low !

In the National Assembly yesterday , the leader of the opposition ,Xavier Duval, pointed out to Pravind Jugnauth that he should not have given the address of the mother of little S., who was admitted to the hospital after her stay in the shelter “ l'Oiseau du Paradis". When Xavier Duval asked him to apologize for having given the address and after the Prime Minister refused, the leader of the opposition repeated “I'm shocked” to which the PM answered“You are shocked? Al pran Xanax.”

When democracy falls off the cliff.”

If u want to really understand what is/was happening to Bruno Laurette, Akil Bissesur, Darren l’activiste, Ivann Bibi , some journalists and others—read the article below by Nobel peace laureate Maria Ressa, who is facing prison in the Philippines. Her forthcoming book is "How to Stand Up to a Dictator".

Like Sri Lanka, Mauritius must avoid falling into debt trap diplomacy !

It is common knowledge that Sri Lanka’s borrowing from China, while significant, is not the main cause of its debt crisis. The country’s largest foreign lending source was international sovereign bonds(ISBs), accounting for 36.5% at the end of 2021. These bonds constituted an even greater share of Sri Lanka’s 2021 foreign debt repayments: 47% compared with China’s 20%- which includes loans for state-owned enterprises and other government-backed financing.

When reality trumps Pada’s rhetoric !

Pada annonce que”Nous ne pouvons laisser croire qu’il y a un manque de devises dans le pays”.

But un manque de devises is slowly developing !

On the brink of the abyss !

We are on the edge of a precipice into a very frightening abyss.(both politically and economically)

This regime has been steering our institutions into uncharted waters, into an unknown destination…and we may end up sinking into the abyss to rise no more-to ‘democraticide”

The galimatia that was a success ! It’s just a beginning !

We were present !

We, the Mauritian citizens, young and old , men and women, the political and the apolitical, the partisan and the independent , the bruyant and the silent ones ….- a true cocktail , a combination of everything that makes us a Mauritian- we overcame our childishness and our dislike for the “pourritures recyclées’- by the way, many of the pourritures recyclées of the MSM emanate from our own MMM, especially the shameless Chihuahua, the pretendant to the title of the king of the general population, who deserted the MMM to join the very party which bungled his programme of electoral reform- and put aside our egos to come together at Place d’Armes to voice our opposition to the way our dear country is being run.

Marche Citoyenne contre la Mafia, 29 Oct à Port Louis !

Mark zot prézans pour la marche citoyenne contre la Mafia !

Zot fini akapar tou nou ban institutions- BoM, STC, SBM, EDB,SM,MPA, IBA,ICTA,ESC, FSC, ICAC, MBCTv, Media, la Police....

Are we fundamentally racist ?

Listen to this clip about the racist comments on Rishi Sunak becoming PM of UK !

Is it because racism is not built in into UK ’s political institutions but it is still deeply embedded in its social institutions.?

What about us ? Are We ?

Notre Mafia à l’oeuvre !

Dan enn ti zil Ocean Indien, osi connu kom Mafialand, zot fin touye enn agent politik et essaye passe li kuma suicide.

Le chef Mafia fin connait à travers so radar ki zafaire là sale ,so lot kamarad mafiosi dan bez, so nat dan coup de vent .

Un coup de pied magistrale pou essaye dévier l’attention !

Li pé emmerde nou avec so “un sérieux precédent” pou détourne l‘attention lor rapport magistrate Mungroo-Jugurnath

A masterful kick pou so double face ek so ban “menaces à peine voilées” contre la magistrate ek DPP

Rapport Mungroo-Jugurnath ramen nou osi à l'élément de 'money politics'.

Welcome to Mafialand !

Avant 2014 le pays était caractérisé par le laisser aller , mais après 2014, c’est la débandade, l’incompétence, la culture du secret , le favoritisme, le népotisme et la corruption,…

Père de la modernisation ou chef de la mafia ?

Who wouldn't speculate, it’s a one way bet !

It’s a situation created by the BoM , why blame the operators ?

The Metro : the White Elephant of this regime

To counter the government's cheerleaders and their propaganda-claiming that the metro is the greatest achievement since independence enabling us to realise the dream of a “modern, liveable, vibrant and environmentally-friendly Smart Mauritius” -we’ll repeat it again and again that the metro is a white elephant -a burden for us, taxpayers, and the future generation. We'll be paying through our nose--that's the gift to us and our younger generation from this irresponsible regime !

The hospitality industry at a turning point !

Two sides of the story : What a stark contrast !

On one side : After the enormous challenges as a result of the COVID-19 pandemic with periods of lock-down, international and local restrictions on movement and a situation of emergency due to financial difficulties, the hospitality industry is recovering fast as is shown by some of our top operators .

A must read-The interview of Parapen Kugan of ReA in today’s l’express-“Les descendants d’esclaves et de coolies ne font pas partie du futur plan de elite économique

Some extracts:

« Le capitalisme ultralibéral nous avait présenté un système qui allait créer la richesse, la croissance, l'emploi et allait conduire Maurice vers le prochain palier de son développement. Or, ce sont les non-dits de ce système au moment de sa présentation qui sont à l’avant aujourd'hui:la cherté de la vie, L’inaccessibilité au logement, l'accaparement et la défiguration du paysage.Je vous done un baromètre tout simple et vérifiable. C'était la période des vacances en Europe, et beaucoup de Mauriciens qui y vivent étaient de passage à Maurice récemment Quel est leur constat? La vie est chère, même pour eux! Maintenant pour le Mauricien payé en roupies par un capitaliste qui ne cherche quầ maximiser ses profits, dans un contexte d'échec gouvernemental à maintenir l'équilibre, la situation est extrême. La façade, ce sont de grands chantiers, des immeubles en construction, mais la population n'en tire aucun bénéfice à l'exception d'une poignée et d'expatriés. J'ai commencé à parler de la gentrification en 2017. …. »

Need for BoM recapitalization !

Like in May 22, the BoM once again recorded substantial losses in Aug 22 that have wiped out its internal reserves and reduced its total capital and reserves to less than the Bank’s stated and paid up capital of Rs 10bn. (See Table below)

Getting our priorities right !

In this Sunday’s "Week-End" newspaper , we could read about the “ Pénurie d’eau à Triolet “ .

For two weeks now , hundreds of families at Triolet (and other places) are having to do with the untenable situation of dry taps and repeated cuts in water supply by the CWA . The inhabitants are fed up; they evoked the electoral promises of a 24/7 supply. Now 7 years later, they are still waiting for round the clock supply of water promised in successive budgets via the replacement of old and defective pipes across the island, the upgrading and increase of treatment plants capacities and the Increase in storage capacities by constructing strategic service reservoirs and new dams.

Some lessons from Gorbachev !

I came across this obituary on Gorbachev:

“Gorbachev explained that it was the 1986 nuclear disaster at Chernobyl that convinced him that the Soviet Union could not continue as it was: “I thought to myself, if the state cannot control a nuclear power plant of this significance, then the state is no longer functioning as a state. The state is kaput ...

When we see the devastation that splitting an atom can cause, then this is untenable; this cannot ever be acceptable. The Soviet Union was no longer viable; it has to find a new path—“

Are they taking us for a ride ?

Today’s issue of l’express gratified us with the proposals of different political parties on the economy, thanks to our very pertinent and hard-working journalist-L.M-responsible for the page " Le Journal de L'Économie".

Sharing two interesting articles : “Back to Chagos” and the book review of “ Nomad Century “

If you are squirming at our style of politics, persisting with the reminiscent days long past of dynasty, communal identity and opportunistic alliances which is no longer cutting ice with part of our electorate and you want a small break, here's some extracts from -

“Back to Chagos: They bent to their knees and kissed the sand” by Cullen Murphy in the July/August 2022 edition of “The Atlantic”

and for our environmentalist friends the book review of “Nomad Century: How to Survive the Climate Upheaval” by Gaia Vince in FT 23, August 2022

Interesting interview of Kevin Teeroovengadum in today's Hebdo:

Q: « La campagne électorale semble avoir été lancée à travers les congrès animés par divers partis politiques. Ne risque-t-on pas, dans cette tentative de seduction politique, d'affecter négativement l’économie par des projets farfelus ? »

Un PM ki fin déréglé !

Ki to pé emmerde nou avek to ex-copain Lakwizinn, to ex-mam kollé , le soi-disan Maharajah , sa pas nou problemm sa ! (sa problem lapolis,ICAC où FIU pou enketté,....osi si bof fin benéficié "proceeds of crime"-own goal!)

Labou pé mok la mar !

Are we reading the same report ?

From today’s l’express “Le Premier ministre, lui, a une fois de plus, énuméré ses réalisations pour le bien-être du pays et le rapport Moody's qui «nous a félicités». Il a aussi parlé de sa politique qu'il mène de manière scientifique et de la masse silencieuse qui ne se déplace pas aux congrès mais qui apprécie son travail.”

The recent Kenyan elections: Some lessons we can draw !

(Published in l'express on Monday 22 August 2022)

Ethnic/identity politics:

The recent elections in Kenya were held amid economic difficulty, a cost-of-living crisis and soaring unemployment rates that have left many Kenyan households struggling. The Covid pandemic, the Ukraine crisis and global inflation have been squeezing public finances, business opportunities and living standards. But the domestic impact of these pressures on ordinary Kenyans did not play a major part into how people vote !

Pei an Kriz, Ki larout ?

Konversasion Solider : “Tous ensemble vers un front commun citoyen."

Ashok Subron : “il n'est plus l'heure de penser à remplacer X par Z. Il est temps de repenser totalement le système pour permettre au peuple de reprendre le contrôle de sa vie."

"Un front commun. Face à un pays, un gouvernement et une opposition en crise, un front commun où tous, sans exception, se mobiliseraient comme lors de la grande manifestation du 29 août 2020, pour dessiner une nouvelle l’ile Maurice où "le pouvoir reviendrait au peuple".

Moody’s downgrade: An Explanation

Moody’s has downgraded Mauritius from Baa2 to Baa3. The outlook is rated as stable, which means that the risk of further downgrading is not envisaged in the near term.

PM, we are not convinced !

Which version is this one ?

This is yet another lie to add to your canon of lies !

Menteur, Menteur !

Pada : A fake economist faking the numbers !

In his reply to a PQ by Mr Ramful, our Pada boasts that “Vous savez, je suis un économiste, j’aime bien donner quelques chiffres" ....and provides the following figures “On était avec un PIB de 500 milliards en 2018, 511 milliards en 2019, 448 milliards en 2020. … Maintenant, on est dans la pente ascendante. Nous sommes en train de reprendre. Nous avons fait 480 milliards en 2021, plus de 20 milliards en dessous de ce qu’on avait fait en 2019. C’est pour 2022 que nous allons pouvoir dépasser le PIB de 2019.”

Hypocrisy of our socio-cultural organisations !

Kot zot sa ban socio-culturels ki ti pé attak Joanna !

The credibility of our politicians !

The credibility of our politicians !

See how our mainstream newspapers and MTimes are preparing us for the comeback of our dinosaurs- politicians as if they are the only alternatives left….a kind of glossy advert that tries to close our eyes and blocked our ears to the devastation they had caused by their past actions and policies…..

Credibility of our institutions !

They are robbing our great traditions and institutions of their greatness, of our passion for fairness and impartiality, of our culture of discussion and tolerance, of our respect of our adversaries and our determination to frame policies for greater economic and social equity ...

Kamarad Morysiens,

Pas blié demain rendezvous dan piscine Angus Road !

Tsunami dan Lakwizinn !

Pinok, beware of the Tsunami !

Tsunami they said ! “ Enn vague mo pas pé trouvé “

Pinok thought that like in the case of Angus Road, Wakashio, the Kistnen murder, the police brutality…he will succeed in ducking the issue again…his police is there to protect him. “I’ve given a statement to the police. This is the end of the matter .”


Why we may avoid a Moody’s downgrade ?

Didn’t you notice that in the latest IMF report we seem to have a more or less toned down version on debt and the gradual fiscal consolidation- less of the tough instructions and more of accommodations- which may perhaps explain the delay in the publication of the Staff Report for the 2022 Article IV Consultation.

Our local saying “Manz bon Dieu, kk diable “ is partly wrong , partly right !

WRONG for people who regularly do their spiritual practice to eliminate their toxins, their negativity, improve their energy level, calm down the mind which is being enriched by regular intakes of spiritual knowledge from different sources and scriptures transforming the small ego into an expanded and calmer ego-a sense of belongingness to others ….these spiritual practices do something weird to your mind, ancient memories resurface, often with new feelings or perspectives attached; you start treating yourself with more compassion, more of understanding, more of self-love, life becomes an expression of happiness, you are happy unconditionally …you go inwards, the direct experience of your eternal centre of being …you find That...., the Universal Consciousness!

Mo Konsians Kler !

Mo Konsians Kler !

Li charier casseroles lor casseroles mais so konsians kler !

Li pas ena l’amour propre !

Li met o défi kisanla montré li ledwa !

Ziska kan, L’ICAC, la police , judiciare , le goalkeeper-cum-goonda pou “bar goals” and ek ban institutions chatwas pou protège li !

Ki kalité konsians sa ?

Interrogatoire under warning ?

What every Mauritian is asking these days :

“Is the police at the service of the Nation or at the service of Pravind Jugnauth ?"

My verdict: "Guilty of High Treason" .

My verdict: "Guilty of High Treason" .SS has confirmed that Pravind Jugnauth has committed an act of high treason and he must resign !

GOVT CAN DO MORE !

Yes , Govt can do more for the underprivileged !

Inflation hit a high of 11.0% in April, before moderating slightly in June to 9.6 % — Mauritian families were suffering, but our government was busy collecting taxes .

HAUTE TRAHISON !

 

Like Rats Fleeing a Sinking Ship !

Our dear Sherry ,CEO of royal lineage ,a descendant of Bihar’s Chakravarti Maharajah Vikramaditya, who was costing us up to Rs 1 million on a monthly basis and was plumbing the profits of our precious Telecom company, has “tuited”....

Sociocultural groups co-opted by this regime

The whole lot of them ,from the casteist to the thuggish ones ,were there to give us another display, another version of “tap-la tab”; they had aligned themselves in neat rows of dutiful cheerleaders delivering paeans of praise for their supremo- leader and showing their gratefulness for the goodies that his Lieutenant Pada has showered upon the nation-a pittance but for them it's heavenly manna- skilfully interspersed with outbursts of threats that sounded like cracks of gunfire-“Nous ne resterons pas tranquilles en cas de menace”. lls ont également lancé une mise en garde à ceux qui montrent le « poing » dans les manifestations publiques contre le gouvernement.

"Rwanda is a brutal, repressive regime. Holding the Commonwealth summit there is a sham"

As our local spin dictator is paying a visit to another dictator friend in the context of the Commonwealth Summit (sic), I thought it apt to give greater publicity to Nalini Burn's above post:

The BoM’s Balance Sheet: Flouting the BoM Act !!!

Subsection 32 (5) of the Bank of Mauritius Act 2004 stipulates that the Bank shall, as soon as may be practicable, after the last working day of each month, prepare and publish a return of its assets and liabilities as at the close of business on that day. Subsection 32 (7) of the Act further mentions that “the Bank shall cause to be published in the Gazette, a copy of the return referred to in subsection (5).

Thank you, Stéphanie !

Thank you for using your mobile phone to catch up our Minister for Gender Equality and Family Welfare in the clutch of Morpheus in the midst of budget debates .

" Producing locally remains a slogan "

It’s there in every budget; a yearly ritual without creating the necessary conditions to drive it forward.