For Lokal to be beautiful: Tinkering at the edges won’t do!

(Published in MTimes  31 Jan 2019)

Do we need a whole set of foreign consultants of the Utopies agency to tell us what we already know about our economy? That we need more of local value added, that we have to boost our exports, more of open economy, etc? 

Free Tertiary Education for All : A Blunder

(Published in MTimes, 25 January 2019)

I was astonished by the overall positive response on the free tertiary education measure announced with pomp and audacity by the regime without prior consultations and planning. Even opposition politicians were quick to say that they approve the principle that tertiary education should be paid for everyone but disapprove the government’s approach towards its implementation.

Living beyond our means

(Published in MTimes ,18 January 2019)

Nobody owes a living, and most of the goodies that have been served by this regime -tertiary education, negative income tax, minimum wage, generous wage and PRB awards, increase in basic pension, etc., have an impact on the budget and the economy. They have a cost. Can we afford them? Are we not jeopardising our future by such fiscal largesse - if not irresponsibility?

"FREE "TERTIARY EDUCATION : Is it a priority now ?

(Published in MTimes 11 January 2019)

As regards the blatantly populist measure of “free” tertiary education, it would be more appropriate to start with the comments of Jayen Chellum, Secretary of the ’Association des consommateurs de l’île Maurice (ACIM) who has summarised it so cogently:

 “Le gouvernement juge qu’il peut décider seul pour le pays, étant donné qu’il a été élu. Le métro est l’exemple type de la manière de gouverner. Ce projet n’est pas basé sur une politique nationale de transport; il n’a pas eu l’apport des citoyens et ne touchera que les cinq villes; il a été exempté d’un permis EIA, donc nous ne connaissons pas l’impact sur l’environnement. De même, il y a des coûts cachés et n’est pas totalement transparent. ….” 

WHEN STATISTICS ARE MADE TO LIE !!!

The latest release of the National Accounts estimates has revised down its forecasts for GDP growth at market prices to 3.8%, lower than the 3.9% growth forecasted in September 2018. Gross Value added at basic prices would grow by 3.6% instead of 3.7% as forecasted in September 2018. 

The Regulatory Sandbox: Some issues !

(Published in MTimes 21 December 2018)

In its move onto the Fintech journey, this year Government had budgeted plans to set up a National Regulatory Sandbox Licence Committee to consider all issues relating to Sandbox licencing for Fintech activities.

Debt Market Development:

(Published in MTimes 14 December 2018)

Policies to support development of a government securities market.

Several measures have already been taken towards providing the basis for a deeper government debt market like improving the government’s cash balances forecast, publishing an issue calendar and information about post auction results, issuance of securities in key benchmark maturities and using the same instrument for both the Treasury’s funding operations and the central bank’s monetary policy operations to avoid market fragmentation.