Public Sector Debt(PSD) was thus reduced by Rs 25 bn through an artificial sale of Air Mauritius Holdings, a state-owned company, to Mauritius Investment Corporation (MIC), owned by the Bank of Mauritius (BoM). Without this BoM/MIC financing, the PSD ratio would have been higher by Rs25 bn, or an additional 4% of GDP.
In his recent interview to Le DefiPlus Ken Arian confirms what we have always maintained that the MIC investment in AHL was an artifice to channel BoM printed money to Govt. ….” Ainsi, de ces Rs 25 milliards,aucun montant n'est resté chez AHL, car tout l'argent a été retourné à l'Etat. Il n'y a pas eu d‘injection de fonds publics pour créer AHL ou sortir Air Mauritius de la crise.”
