The MTC-GRA tussle !

Our brilliant economist ,Kugan Parapen, had in a recent interview commented on the tug of war between the Gambling Regulatory Authority and the Mauritius Turf Club which was inevitable given the political setup.

They did not have the guts !

Our friend J.C .L’Estrac, one of our top connoisseurs et beaux parleurs, who gets so carried away by his own rhetorics that he starts believing in them and the clichés that they readily churn out- delivered us another of his famous gems in today’s l’express.

A doubtful unemployment rate of 9.1% !

The latest “Labour force, Employment and Unemployment” indicator for the year 2021 shows an unemployment rate of 9.1% compared to 9.2 % in 2020.The labour force, employment and unemployment figures are based on the results of the Continuous Multi-Purpose Household Survey (CMPHS).

La faillite de BoM !

Le PM argues that “Mo pa kapav fer STC al fer faillite”; but , Sir Pinochio, all our institutions are going the Sri Lankan way!

Next is BoM !

"Est ce que c’est ça notre arc-en-ciel mauricien" ?

That’s from the latest clip of Mr Bergue , pointing to the socio-economic cleavages that have all hardened under this regime , the deep frustration of the Creole community with the nation’s political leaders and with its own so-called political and social representatives, watching from the sidelines while the immiserisation of and discrimination against the Creole community continues unabated .

Pada’s nominal illusion !

In his intervention on the no confidence motion , our Pada was all in raptures, congratulating himself and happily quoting from the very diplomatic but hard-hitting IMF IV mission notes .

Moody’s: Mauritius ratings stay at Baa2 negative

(helped by the recovery in the tourism sector and our exit from the FATF grey list )

Mauritius's credit profile reflects its relatively high debt burden, as well as its small size and exposure to shocks, set against a business-friendly investment environment, which has historically supported relatively high and stable growth rates. Robust governance and institutions help attenuate Mauritius's exposure to environmental risks, particularly natural capital risks and susceptibility to weather-related events.

The IMF prescriptions if we do not want to end up as Sri Lanka and Pakistan !

Is our dear Pada so stupid that he cannot make out that behind the usual diplomatic language of the IMF ( this IMF comment “... the economy is gradually recovering from the pandemic” seems to have send our Pada into raptures, overlooking the whole series of prescriptions, recommendations and instructions), there is a severe warning that we cannot continue pumping the economy with steroids.

The hypocrisy of the private sector !

To this question on raising the minimum wage -“ Face a la hausse du tout de la vie, it y a une forte demande auprès des syndicalistes pour revoir le salaire minimum. Partagez-vous le même avis ?”, the Chief Operating Officer of Business Mauritius replied that

“….une augmentation des salaires ne va pas résoudre le problème. Même si les salaires sont revus a la hausse, les prix au niveau mondial vont continuer de grimper. ….… Ainsi, je pense qu'une intervention monétaire n'apportera pas des solutions. Par ailleurs, la revision du salaire minimum est une decision du National Wage Consultative CounciL(NWCC). Celui-ci prend en considération non seulement l'inflation mais aussi le chômage, I'emploi, l'investissement, la balance des paiements, entre autres. “

Privatising profits,socialising losses !

In their budget memorandum, the Mauritius Bankers' Association(MBA), is requesting for fresh source of capital to systemically important businesses where bank exposure was already high and a level playing field for the emerging sectors, ….

IMF’s WEO projections for Mauritius.

The IMF World Economic Outlook (WEO) has published its updated projections for Mauritius in April 2022. And these projections are not good news at all !

GDP growth in real terms is forecast at 6.1% in 2022 and 5.6% in 2023, slowing down further to 3.3% in 2025.

Cornered, Pada bluffs and blusters…

Pushed to the wall by comments that are comparing our economic situation to the the Sri Lankan crisis and chaos, our Pada tries to dismiss it by retorting that “ Maurice est loin d’être en faillite»