Governor of the Bank of Mauritius to Step Down
The Governor of the Bank of Mauritius, Rama Sithanen, has confirmed that he will be leaving his position in the coming days. This decision comes after a request from Prime Minister Navin Ramgoolam, who deemed his position as having become "untenable" for the proper functioning of the institution.
Background
This resignation occurs amidst a climate of internal tensions. In late August, the second Deputy Governor, Gérard Sanspeur, had already left his post, denouncing alleged interference by the Governor's son in recruitment and the granting of banking licenses. Rama Sithanen denied these accusations, stating that the Bank's decisions had not been influenced.
Economic Performance
Despite these controversies, economic indicators have remained favorable under his leadership, with inflation reduced to 3.3% in August and an appreciation of the Mauritian rupee by 6% against the dollar since the beginning of the year.
Future Developments
The Prime Minister has announced that a new second Deputy Governor will be appointed as early as this week, before the designation of a new Governor. Rama Sithanen explained that he made his decision "in the superior interest of the Central Bank and the country".
