A new variant of capitalism has emerged:The Mauritian variant ?

Please find below some relevant extracts from a very interesting recent article in "The Guardian" which claims that alongside the new variants of the virus there has been a new variant of global capitalism. 

Pension Populism: Reaping the dividends in 2024 !!!

All concerned economists , analysts and international agencies, including the IMF and the WB, were expecting a thorough reform of our pension system that would be setting the level and the gradual increase of benefits in a fiscally sustainable manner, while ensuring equity between public and private sector employees and freeing resources for more of pro-poor spending.(The recent WB’s CEM affirms that the targeted measures under Marshall Plan Social programme generated a more equal distribution of income and was superior to untargeted transfers because they could achieve the same degree of poverty and inequality reduction with fewer resources. Precisely, the same decline in the Gini index could be obtained by spending only 29 percent of the current BRP expenditure if it was targeted to the poor.)

Meritocracy-the Mauritian version !

In today’s l’express, "Pravind Jugnauth refuse de fournir des precisions à Bhadain ".

A doubtful unemployment rate of 9.8% !

The latest “Labour force, Employment and Unemployment” indicator for the First quarter 2021 shows an unemployment rate of 9.8% compared to 10.2% in December 2020.

Inflation measures : Mere palliatives !!!

Govt should come along with some serious measures !

The excess liquidity in the market , the depreciation of the rupee and the local increase in pretroleum prices are adding to the inflationary pressures from the hike in international commodity prices and freights.

Let IMF say what it says”….No , Sir, We do care !!“!

(Published in l'express July 2021)

Our Marxist old boy , our Chairman of the MIC, a skilled orator and famed showman with his flashy costume, fights back trying to justify the role of the MIC , despite criticisms from different quarters including the IMF. He argues that 

(a) many affected companies and jobs were saved by drawing from the foreign exchange reserves of the BoM rather than letting it lying in US Treasury Bills with yields at very low levels, 

(b) the MIC's mandate allowed it to channel funds for building future capacity and that their primary focus was the Mauritius economy of care and love not what profits the MIC and

(c) the investment committee did its job very efficiently in saving the affected companies and giving them some breathing space.

Another setback to our offshore sector

This week the Mauritian offshore sector has been named in two prominent investigations - the Sentry, an US investigative anti-corruption NGO, released a report on the Zimbabwean business magnate, Kudakwashe Tagwirei’s business activities and the the French website Mediapart ‘s report on the Rafale deal, an alleged corruption and favouritism in the 7.8 billion euro sale to India of 36 fighter aircrafts.