NAVIN Ramgoolam, the new Prime Minister of Mauritius, has announced a comprehensive audit of the country’s public finances, questioning the accuracy of data released by the previous administration. The move follows his coalition’s landslide victory in the 10 November election, which secured Ramgoolam his fourth term as leader.
In a speech on Sunday, the 77-year-old premier declared his administration would review ‘the state, the economy, and public finances’ and pledged to publish the findings. Ramgoolam accused the outgoing government of manipulating financial data.
‘All the numbers from the finance minister are wrong,’ he stated, as reported by Bloomberg. ‘Soon, you will know. They manipulated the data to make you believe that life is rosy.’
Investor concerns loom
The announcement could spark apprehension among foreign investors and international financial institutions. Mauritius, a key offshore financial hub bridging Africa and Asia, has built its reputation on economic stability and transparency.
Outgoing Finance Minister Renganaden Padayachy and his team have yet to comment on the allegations.
Despite Mauritius recording a robust 7 percent economic growth last year, voters were heavily influenced by a worsening cost-of-living crisis under former Prime Minister Pravind Jugnauth’s leadership.
A legacy of stability
Mauritius has long been hailed as one of Africa’s most stable democracies. Since gaining independence in the 1960s, the island nation has transformed from a low-income economy reliant on sugarcane to an upper-middle-income country. It consistently ranks as the easiest place to do business in Africa, according to the World Bank.
Ramgoolam’s audit is expected to test the nation’s financial transparency and its standing with international investors in the coming months.
