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AfricaMoney | August 18, 2017

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Ramesh Basant Roi to take the lead at the Bank of Mauritius

Ramesh Basant Roi to take the lead at the Bank of Mauritius

Basant Roi’s reappointment was paved by the departures of Rundheersing Bheenick and one of his deputies, Mohamad Issa Soormally, last week. (Image: naija247 news)

Mauritius’ central bank has appointed Ramesh Basant Roi as its new governor following the recent outgoing of its governor, Rundheersing Bheenick, according to local newspaper Le Mauricien.

Finance Minister Seetanah Lutchmeenaraidoo announced the new elected governor at a press conference organized yesterday December 30, 2014 at the Government House.

Minister Lutchmeenaraidoo explained that the appointed governor spent nearly 30 years at the Bank of Mauritius and the latter is very familiar with the functioning of this institution.

Also, the Finance Minister announced that the two deputy governors will come within the Central Bank.

Basant Roi’s reappointment was paved by the departures of Rundheersing Bheenick and one of his deputies, Mohamad Issa Soormally, last week.

The new governor has entered the BoM in 1976 as an economist and he was appointed as Deputy Director of the Research Department in 1984 before being promoted to manager four years later

This function was previously occupied by experts from the International Monetary Fund ( IMF).

Subsequently, Rameshwurlall Basant Roi acted as responsible for the implementation of monetary policy and financial sector reforms over the period 1986-1995.

Basant Roi was appointed for the first time as governor of the BoM between 1998 to 2006, after the departure of Dan Maraye.

Rameshwurlall Basant Roi told to the local newspaper that he will demonstrate effort to stimulate economic growth, but also to ensure the stability of our financial system while trying as much as possible to control inflation.

Further to the recent election happening on the island, the new elected government is selecting several new political nominees to replace those of the Labour Party at the head of parastatals such as the central bank and the (Independent Commission Against Corruption) ICAC.

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