Leadership Shake-Up at Bank of Mauritius Amid Power Struggle
The Prime Minister of Mauritius, Navin Ramgoolam, has called for the resignation of Central Bank Governor Rama Sithanen amidst discrepancies at the institution. Allegations against the governor's son stir controversy, leading to the resignation of Deputy Governor Gerard Sanspeur. Mauritian leadership is reassessing bank governance.
Mauritius is experiencing a significant shift in its financial governance as Prime Minister Navin Ramgoolam demands the resignation of Central Bank Governor Rama Sithanen. This move, announced on Saturday, comes amid a turbulent atmosphere at the bank, prompting imminent leadership changes.
The move follows the resignation of Deputy Central Bank Governor Gerard Sanspeur on August 29, who left his position citing interference by the governor's son in operational matters. Sanspeur accused the son of meddling in banking license processes, staff recruitment, layoffs, and tender procedures, underscoring the mounting tensions within the institution.
While Sithanen disputes the allegations regarding his son, Ramgoolam stated that continued leadership under Sithanen had become unsustainable, prompting the call for a change to restore stability at the Bank of Mauritius.
(With inputs from agencies.)
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