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AfricaMoney | August 19, 2017

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Rundheersing Bheenick dismissed of his function by new Government

Rundheersing Bheenick dismissed of his function by new Government

Bheenick however said he would now consult his lawyers about whether the government, elected earlier this month, had the constitutional right to sack the central bank governor. (Image:AfricaMoney)

Mauritius Central Bank Governor, Rundheersing Bheenick, has been dismissed of his function by the new Government after seven years in charge of the central bank.

Bheenick, who received the dismissal letter on last Friday, was handed a third three-year term by the bank in 2013, hinted that he may appeal the move.

“My contract has been terminated with immediate effect. I have received a letter from the secretary of the President of the Republic,” Rundheersing Bheenick told Reuters over the phone.

It was not immediately clear why he was sacked and there was no clear front runner to replace him at the bank.

Bheenick however said he would now consult his lawyers about whether the government, elected earlier this month, had the constitutional right to sack the central bank governor.

After taking up his post in 2007, Bheenick managed to ease rising inflationary pressures, introduced an independent Monetary Policy Committee and helped develop an Islamic finance industry.

“Records speak of my achievements at the bank,” he said.

Mauritius’ economy, which has slowly been recovering from the global financial crisis which hurt tourist arrivals, particularly from Europe.

Furthermore, the economy of Mauritius is expected to expand by 3.5 per cent in 2014, up from 3.2 per cent last year.

Source: Reuters

 

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