La loi scélérate ICTA: Péna Simé !!!!

Gouvernma pas pou abondoné lor la loi scélérate ICTA, kroir moi !!!

The latest Moody’s Report ( 15 Apr 2021)- Banking System Brief

Main Highlights and impact :

Is our economic tide lifting all boats ?

Going through Sithanen's interview in the latest edition of the Week-End newspaper, the reader cannot afford not to be impressed by our master crafter’s articulate display of the right intellectual sound bites- Technical Rebound , the Scarring Effect, Business Model, Liquidity et Solvency, Creative Destruction, good money after bad money , an unprecedented crisis with direct consequences, we have to think out of the boxes and disrupt the system otherwise we will be disrupted , cette dimension d’Attractiveness, Unity of Purpose and the Collective Patriotic Effort.

Concern for Social Cohesion ?

I recall the IBL boss crossing swords with the then Minister of Economic Development, Financial Services and Corporate Affairs quite some time back in 2003.

The Minister was launching the Code of Corporate Governance for Mauritius and in his speech he had highlighted that the key objective of the corporate governance reform was to enhance shareholder value and corporate efficiency.

Ocean Economy- Emerging pillar of growth.

Instead of wasting taxpayers’ money, touring the world selling Mauritius as a business destination, which has however succeeded in only attracting investors in the real estate market, EDB could prove itself to be more useful by reactivating the “Ocean Economy “ project.

The accelerated depreciation of the rupee : a deliberate policy choice

Surprisingly it is not the BoM-which decides about our monetary policy stance-that is trying to justify the deliberate policy choice of an accelerated depreciation of the rupee , it is the so-called think tank (sic) of government-the EDB

They claim that their back-of-the-envelope analysis has led them to conclude that the depreciation of our rupee is leading to a considerable increase in exports to our main markets, …….You know what happens when monkeys are allowed to play with razor blades, they end up hurting themselves. This is what you can expect when the EDB tries its hands at what it calls analysis which is actually some simplistic and erroneous calculations as we do show below.

Latest IMF figures

From WEO(Apr 2021) and Fiscal Monitor