finance

juin 23, 2015

I wrote this article in the train on my way back to my office in Amsterdam. I spent eleven days following the climate negotiations in the splendid new venue of the United Nations in Bonn. At the entrance, a group of young people displaced a very original banner with the following words….

I wrote this article in the train on my way back to my office in Amsterdam. I spent eleven days following the climate negotiations in the splendid new venue of the United Nations in Bonn. At the entrance, a group of young people displaced a very original banner with the following words…. “SPEED IT UP”, I was simply wondering whether they were referring to the actual process on the climate negotiations or an address to the leaders of the world to speed up the de-carbonization process for controlling the global emissions and move out of dirty coal.

January 23, 2015

Mauritius is facing the problem of water supply. Being a small island, we should be able to enjoy the facility of having water supply 24/7.

Mauritius is facing the problem of water supply. Being a small island, we should be able to enjoy the facility of having water supply 24/7.

January 20, 2015

After the 1983 general elections, the then Minister of Finance (also the NOW Minister of finance) discovered that we had become a nation of gamblers (enn nasion zougader) and among his great initiatives was the decision to raise the lottery stakes substantially.

After the 1983 general elections, the then Minister of Finance (also the NOW Minister of finance) discovered that we had become a nation of gamblers (enn nasion zougader) and among his great initiatives was the decision to raise the lottery stakes substantially. If my memory serves me right, the first prize went from some hundred thousand rupees to a million. Was the aim to reduce gambling? Or was it to whet people’s appetite for easy money?

January 12, 2015

The murder of 12 people in Paris MUST be condemned. Nothing justifies the killing of innocent people in the name of anything: Imaginary friend, Ideology, Politics (you pick). However when the dust settles, a few questions have to be answered. We can all look at the attacks on Charlie Hebdo and be outraged that such barbarity exists. The attacks should not, however, only be understood in the context of a retaliation for a perceived offense against Islam.

The murder of 12 people in Paris MUST be condemned. Nothing justifies the killing of innocent people in the name of anything: Imaginary friend, Ideology, Politics (you pick). However when the dust settles, a few questions have to be answered.
We can all look at the attacks on Charlie Hebdo and be outraged that such barbarity exists. The attacks should not, however, only be understood in the context of a retaliation for a perceived offense against Islam.

décembre 26, 2014

Often used as an instrument to sustain income in retirement for the less fortunate, a basic retirement pension imposes huge financial burden on the government. Mauritius is still one of the few remaining countries that provide a state pension. Despite the good intentions of the government in caring for its elderly population, the state pension in Mauritius has, over the years, failed to take into account the increased cost of living and evolve to provide a decent standard of living to retirees.

Often used as an instrument to sustain income in retirement for the less fortunate, a basic retirement pension imposes huge financial burden on the government. Mauritius is still one of the few remaining countries that provide a state pension. Despite the good intentions of the government in caring for its elderly population, the state pension in Mauritius has, over the years, failed to take into account the increased cost of living and evolve to provide a decent standard of living to retirees.

décembre 11, 2014

Today the economy stands at a crucial crossroads. As crucial as in 2006, when a new team of policy makers, known as the TINAs (There Is No Alternative)  set out to craft a new socio-economic model – a model based  mostly on the  reports of the Bretton Woods institutions, namely the IMF Report "Fiscal Adjustment Strategy and Measures to Protect Low-Income Households" and "Mauritius: From Preferences to Global Competitiveness" , an unpublished World Bank Report.

Today the economy stands at a crucial crossroads. As crucial as in 2006, when a new team of policy makers, known as the TINAs (There Is No Alternative)  set out to craft a new socio-economic model – a model based  mostly on the  reports of the Bretton Woods institutions, namely the IMF Report "Fiscal Adjustment Strategy and Measures to Protect Low-Income Households" and "Mauritius: From Preferences to Global Competitiveness" , an unpublished World Bank Report.

octobre 16, 2014

We cannot know precisely but given that he's been finance minister long enough we can look at his jobs record and compute an average. This turns out to be 18,243 per year if we use data between 1984 and 1990. We can look at Sithanen's data too. As the chart illustrates it's 7,200 a year on average. That's 2.5X slower. Now if you'll please excuse me I've got something to pick up in Stockholm.

We cannot know precisely but given that he's been finance minister long enough we can look at his jobs record and compute an average. This turns out to be 18,243 per year if we use data between 1984 and 1990. We can look at Sithanen's data too. As the chart illustrates it's 7,200 a year on average. That's 2.5X slower. Now if you'll please excuse me I've got something to pick up in Stockholm.

octobre 6, 2014

Lors d’une réunion tripartite concernant la compensation salariale, Haniff Peerun fait ressortir que tous les indicateurs économiques locaux aussi bien qu’internationaux ont reconnu que l’économie mauricienne se porte bien et a la capacité de pouvoir permettre à un Mauricien d’avoir un salaire adéquat.

Lors d’une réunion tripartite concernant la compensation salariale, Haniff Peerun fait ressortir que tous les indicateurs économiques locaux aussi bien qu’internationaux ont reconnu que l’économie mauricienne se porte bien et a la capacité de pouvoir permettre à un Mauricien d’avoir un salaire adéquat.

août 15, 2014

Robert Kaplan’s master class on the Balanced Scorecard held at Trianon Convention Centre in Mauritius on 8th August was a major event uniting over 1000 prospective listeners from various corners of business and management in Mauritius, both from the public and the private sector.

Robert Kaplan’s master class on the Balanced Scorecard held at Trianon Convention Centre in Mauritius on 8th August was a major event uniting over 1000 prospective listeners from various corners of business and management in Mauritius, both from the public and the private sector.  At a time when the Mauritian economy is travelling through troubled waters with uncertainties linked with the extension of the African Growth and Opportunity Act (AGOA) for the next fifteen years along with the impending crisis both in European and the US market, the forum held was a means of developing

juin 24, 2014

Once America has embarked on any enterprise the whole World follows blindly without analysing the facts and measuring the consequences whether intended or not.... Same for the issue of drugs.

Once America has embarked on any enterprise the whole World follows blindly without analysing the facts and measuring the consequences whether intended or not.... Same for the issue of drugs.
In 1971 President Nixon declared war (World!) on drugs. The World followed...Conventions, Laws, Regulations, Budgets, Treaties between countries and so many other legal instruments have been voted and are voted to try to win a war which does more harm than save the World.
What have been the effects of that deleterious war?
Briefly:

February 25, 2014

Every human being is faced with one constant problem: How to make the most of life? The “Art of living is the most difficult of arts” [Dr George Sheehan].  Life has many problems and miseries in the form of health, finance, education, marriage, among others.

Every human being is faced with one constant problem: How to make the most of life? The “Art of living is the most difficult of arts” [Dr George Sheehan].  Life has many problems and miseries in the form of health, finance, education, marriage, among others. That is why we seldom hear a person say:  “I am happy”.  Usually people complain of their sufferings.  Yes, Life is full of problems, but we can try to be happy.  Here is a nine-point formula for those who are in search of happiness.

February 13, 2014

Who is licking the wounds and who is licking the chops ? This is not an innocent question that was set to me by an economist at an international institution today, February 12, 2014. In the past few days I received several requests from friends and young professionals in Mauritius to elucidate and re-state the problem of excess liquidity that appears to have emerged as the cause for the cross-firings between the Bank of Mauritius and the Ministry of Finance. It seems confusion has been confounded.

Who is licking the wounds and who is licking the chops ? This is not an innocent question that was set to me by an economist at an international institution today, February 12, 2014. In the past few days I received several requests from friends and young professionals in Mauritius to elucidate and re-state the problem of excess liquidity that appears to have emerged as the cause for the cross-firings between the Bank of Mauritius and the Ministry of Finance. It seems confusion has been confounded.

January 26, 2014

Pirates played an important role in the history of Mauritius in the 17th and 18th centuries, and today they are back, as Mauritius has become a key player in the international fight to curb the wave of piracy that is menacing global shipping in the Indian Ocean.

Pirates played an important role in the history of Mauritius in the 17th and 18th centuries, and today they are back, as Mauritius has become a key player in the international fight to curb the wave of piracy that is menacing global shipping in the Indian Ocean.
Mauritius is among a handful of other countries in the region - including Kenya, Seychelles, Tanzania and the Maldives - that have signed agreements with the European Union and the UK to accept suspected pirates from Somalia for prosecution and trial.

novembre 12, 2013

Climate change is one of the most important global challenges we have to face in the 21st century. A UN report released in September says that climate change is already happening. There is a need for urgent action at the global level.

Climate change is one of the most important global challenges we have to face in the 21st century. A UN report released in September says that climate change is already happening. There is a need for urgent action at the global level. We cannot ignore the consequences any longer.
The countries of the world meet this week in Warsaw. The meeting is the highest decision-making authority for climate change negotiations, which meets once a year and includes195 member states. It is a very important opportunity to make progress.

novembre 8, 2013

HEALING INJUSTICE?

Government has a commitment to a Welfare Economics policy that secures basic living conditions for 1.2 million population with a stable birth rate. 1968 to 2013 is a long enough period of our economic history to draw lessons, and shape our economic and socioeconomic policies rooted firmly in those issues.

HEALING INJUSTICE?

Government has a commitment to a Welfare Economics policy that secures basic living conditions for 1.2 million population with a stable birth rate. 1968 to 2013 is a long enough period of our economic history to draw lessons, and shape our economic and socioeconomic policies rooted firmly in those issues.

novembre 7, 2013

A budget deficit on its own does not say much about the state of an economy. The budget deficit only has meaning in terms of its relationship with the size of the national economy (GDP).

A budget deficit on its own does not say much about the state of an economy. The budget deficit only has meaning in terms of its relationship with the size of the national economy (GDP). What has meaning is the ratio of the deficit or of the cumulative government debt to the size of the GDP. The faster the economy grows the better the ratio becomes. If the economy is anaemic the ratio gets bad. That's the kind of “austerity trap” Europe has fallen into and we fell into in the beginning of the 1980s.

octobre 25, 2013

Deva Soopramanien left us peacefully on the morning of the last Saturday (12 October 2013) of the holy month of the Govinden festival, at the age of 93. God gave him a long life to achieve all the great dreams he had for his family, his community, the Public Service and the country at large.

Deva Soopramanien left us peacefully on the morning of the last Saturday (12 October 2013) of the holy month of the Govinden festival, at the age of 93. God gave him a long life to achieve all the great dreams he had for his family, his community, the Public Service and the country at large.

September 2, 2013

Taxation is a major source of revenue for government to finance the economic and social development of the country. It is said that a fair and equitable tax system enhances revenue mobilisation. Granted, justice is an appropriate standard for weighing tax systems. So what is a just system of taxation?

Taxation is a major source of revenue for government to finance the economic and social development of the country. It is said that a fair and equitable tax system enhances revenue mobilisation. Granted, justice is an appropriate standard for weighing tax systems. So what is a just system of taxation?

mai 8, 2013

Namaste Government,
I find it hard to understand why twelve citizens of Mauritius, of which eleven are women, have to go on a hunger strike, which is now in its 8th day, to make themselves heard. Whether or not the assistant director at Foyer Namaste is guilty is irrelevant. The 52 persons who were left jobless in the wake of your decision to close the 4 centres of Foyer Namaste should, in my humble opinion, be given a different treatment.

Namaste Government,
I find it hard to understand why twelve citizens of Mauritius, of which eleven are women, have to go on a hunger strike, which is now in its 8th day, to make themselves heard. Whether or not the assistant director at Foyer Namaste is guilty is irrelevant. The 52 persons who were left jobless in the wake of your decision to close the 4 centres of Foyer Namaste should, in my humble opinion, be given a different treatment.

mai 3, 2013

Cyprus shares some common features with Mauritius. It is an island economy, it has a lucrative offshore banking sector, its financial industry is dominated by two out of twenty-six banks, and they rely hugely on deposit financing with outsized liabilities in relation to the economy.

Cyprus shares some common features with Mauritius. It is an island economy, it has a lucrative offshore banking sector, its financial industry is dominated by two out of twenty-six banks, and they rely hugely on deposit financing with outsized liabilities in relation to the economy.

April 10, 2013

Following the blowup of a financial scam and the crackdown on unlicensed investment activities by the regulatory authorities concerned, namely the Bank of Mauritius and the Financial Services Commission, an interesting exchange of crossfire has taken place in the media, involving the ministry of finance, and the current and former BOM Governors.

Following the blowup of a financial scam and the crackdown on unlicensed investment activities by the regulatory authorities concerned, namely the Bank of Mauritius and the Financial Services Commission, an interesting exchange of crossfire has taken place in the media, involving the ministry of finance, and the current and former BOM Governors.

décembre 31, 2012

2012 was a lesson in the early effects of a systemic crisis, during generalized crises. How can we turn this round in 2013 ?

2012 was a lesson in the early effects of a systemic crisis, during generalized crises. How can we turn this round in 2013 ?
The economy driving the disorder

September 19, 2012

The postponement of village council and local  government elections coupled with the raging debate on the electoral reform and the historical victory of the Rezistans ek Alternativ group via the United nations position against communalism are ingredients in the boiling pot for a new  political landscape.

The postponement of village council and local  government elections coupled with the raging debate on the electoral reform and the historical victory of the Rezistans ek Alternativ group via the United nations position against communalism are ingredients in the boiling pot for a new  political landscape. The debate on electoral reform provokes some pertinent issues which I would like to share.

juillet 13, 2012

In the last twenty years, behavioural economics has made important strides. In 2002, Kahneman was the first non-economist to be awarded the Nobel Prize in Economics, which he shared with Vernon Smith. In the announcement of the Prize, the Nobel Committee said that Kahneman and late Tversky's work “inspired a new generation of researchers in economics and finance to enrich economic theory using insights from cognitive psychology into intrinsic human motivation.”

In the last twenty years, behavioural economics has made important strides. In 2002, Kahneman was the first non-economist to be awarded the Nobel Prize in Economics, which he shared with Vernon Smith. In the announcement of the Prize, the Nobel Committee said that Kahneman and late Tversky's work “inspired a new generation of researchers in economics and finance to enrich economic theory using insights from cognitive psychology into intrinsic human motivation.”