Mauritius Central Bank Governor to Resign This Week

Mauritius’ Central Bank Governor Rama Sithanen has agreed to resign this week, following Prime Minister Navin Ramgoolam’s call for him to step down amid signs of a power struggle at the bank. "I believe that, in the best interest of the central bank, in the best interest of the country, and for the stability and serenity of the institution, it is the right thing for me to step down," Sithanen said in a televised speech on Saturday evening, as reported by Reuters. "I have agreed to resign, and I will do so next week." Earlier on Saturday, PM Ramgoolam told reporters that while he did not question the governor’s competence, he had asked him to resign “in order for the Bank of Mauritius to regain its serenity.” Ramgoolam also stated he would appoint a new second deputy governor on Monday, followed by a new governor thereafter. Deputy Central Bank Governor Gerard Sanspeur resigned on August 29 after clashing with the governor’s son.