Friday, April 1, 2022

Special Report in FInancial Times: "Investing in Mauritius"

My comments :
It is mentioned in one of the articles that Renganaden Padayachy, finance minister, and Harvesh Kumar Seegoolam, central bank governor, did not agree to be interviewed for this report.
One thing that stands out - the refusal of the Minister of Finance and the BoM governor to be interviewed for this FT report will reflect badly on the Mauritian govt and the country.
What can we do when we have such “Lalo bouiis” (without any disrespect for our veggie friends, it was meant in the sense of the lack of resolve and drive) at the helm of our prime institutions who cannot even assume their responsibilities !!!
As to the weird comments by Azim Currimjee “ We threw the textbook out of the window,” It looks like the country was also thrown out along with it!
And this horrendous absurdity “There was so much spare cash in Mauritius that, basically, we mopped it up and put it back in” especially from a former vice-president of the Economic Development Board of Mauritius.
Did we ? BOM had been having all the pains of the world to mop up the excess liquidity they have created; If there was so much spare cash in the economy, why did Govt need to get billions of freely printed rupees from BoM; why didn’t we borrow from the market ?