On July 3, 2005 l'Alliance Sociale wins the elections but Ramgoolam doesn't appoint Bheenick immediately as Governor of the Central Bank. There are probably two reasons for that. The first one is that he doesn't want to compensate Basant Roi for ending his contract prematurely. The other is that Sithanen doesn't want somebody with an independent mind heading the Bank of Mauritius.
Things drag on. Too much. Bheenick is finally appointed in February 2007 -- seventeen months later -- and Sithanen tries to blackmail the PM by dangling a letter of resignation. That doesn't work but the damage is already done. Indeed the amount of inflation -- some call it radioactivity -- created between July 2005 and February 2007 is about 12.5%. That's more than half the high cumulative inflation of 23.9% generated by Federation 2 over a 4.75-year period but in less than one-third of the time. Do the math and you'll love the speed.
Announcing that Manou would stay on as Governor during the campaign has certainly contributed to Ramgoolam's victory just like his steady hand at the BOM during his first contract kept the PM's chances of reelection alive in the face of unrelenting Shaitanomics.
A lot of important and urgent work awaits the Governor-in-waiting. He shouldn't be kept away from his desk any longer.
Things drag on. Too much. Bheenick is finally appointed in February 2007 -- seventeen months later -- and Sithanen tries to blackmail the PM by dangling a letter of resignation. That doesn't work but the damage is already done. Indeed the amount of inflation -- some call it radioactivity -- created between July 2005 and February 2007 is about 12.5%. That's more than half the high cumulative inflation of 23.9% generated by Federation 2 over a 4.75-year period but in less than one-third of the time. Do the math and you'll love the speed.
Announcing that Manou would stay on as Governor during the campaign has certainly contributed to Ramgoolam's victory just like his steady hand at the BOM during his first contract kept the PM's chances of reelection alive in the face of unrelenting Shaitanomics.
A lot of important and urgent work awaits the Governor-in-waiting. He shouldn't be kept away from his desk any longer.
Yes Sanjay, I am 100% with you. Navin should go ahead and re-appoint Manou as Governor to prevent any more speculation on the Rupee. This is his prerogative as PM. Why wait longer and let Shaitanomics in?
ReplyDeleteThis was announced "en primeur" on Radio Plus this after at about 14:10. He carefully averted Nawaz Noorbux's insinuations (le "Roi" Bheenick). There are many rumours about his "train de vie", the lavish treament he gives his guests, but man, if you think that this may be illegal, sue him and bring the proof (e.g. like in the case of ACP Suneechara): else, shut up!
ReplyDelete@Anonymous: cool he's at his desk already! Go Mauritius! Go!
ReplyDelete@akagugo: Ayo mon al ekut news 16h30 la. Nawaz pa tande ki li koze de fwa. Zot telma pa fer zot homework ki Sithanen ine kuyon zot pendan 5 banane.
Basant Roi (member of the Dream Team of l'Alliance du Coeur) said : "Le Roi Bheenick est mort". What will he say now? Governor Bheenick ha come back to life??? About the so-called 'le train de vie', does Bizlall expect the Governor of a Central Bank to ride a Mini-Minor like Minister Kailash Ruhee did in 1982? I agree with Sanjay. The Governor is at his desk now. A lot of important and urgent work is on his desk. So let him work in peace. I know the man not only of being a competent person who will deliver but he is also a kind human being and all the 'laboue ki zot fine zette lor li pas fine colle lor li' to the great dissatisfaction of some people...
ReplyDeleteIt seems the Second Deputy is a 'BAI man'. "Le ver est deja dans le fruit", will say the other !!! "Mr Belath previously served as Country Manager at the Habib Bank from 2007 to 2010. Prior to that, he headed the Group Treasury and Investments of the British
ReplyDeleteAmerican Investment Co (Mtius) Ltd, which he joined in 2005.
Born in 1953, Mr Belath, who is an Associate Member of the Chartered
Institute of Bankers, London, UK, has more than 30 years experience in the banking sector, including 11 years at Senior Management level at the HSBC." (Source: BOM)
I fail to understand that Tom, Dick and Harry were thinking about Manou and how he will work hard for them, when they went to vote in the last elections. However if Manou can prevent the devaluation and/or uncontrolled depreciation of the rupee his re-appointment will surely serve the masses. It is unfortunate that the Glover Report is not in the public domain. This does not serve Manou himself because a doubt will remain. The success of this Government will also depend on its capacity to deal swiftly with mis-management of public funds whenever and wherever they happen. Common people do feel aggrieved whenever a selected few serves themselves instead of serving the others.
ReplyDelete@Anonymous: Mo pakone sipa li pu approprie pu servi ene visiting Governor ene bon divin banane ek ene tekwa.
ReplyDelete@Kozemotande: ban dimoun ki kon limportans Bheenick dan la preservation dinpe de common sense fine sirman kontan kan Ramgoolam ti annons so retour. Kit fwa pan release li parski ena ban info sensible au fonktionman la BoM.