Sunday, February 28, 2016

Ramgoolam Vague About Labour DNA

A week ago he said it's made up of unity, development and social justice. For sure these are important values but they are a bit too vague. But first let's see how he did according to these values.

Pretty average in the unity department if the end result of three mandates (especially the last two) has been to bring Mauritius closer to an overcrowded barracoon. Granted that Manou Bheenick -- picked by Ramgoolam after 18 long months -- made us quite proud and united as far as the external value of our currency goes while he was calling the shots at the Central Bank.

Navin didn't do well on the second criteria either: what started on his watch in 2005 and which continued even after December 2014 has produced our worst growth rates ever. Indeed 2016 is likely to be the 6th consecutive year we'll be clipping a growth rate of under 4% (this has never happened before and that too after we were promised robust growth rates by a bean-counter and now a miracle by his zinku).

The story of how Navin Ramgoolam stacks up in terms of social justice is kind of simple: about 500 more people were thrown into poverty during his first mandate but that number increased to roughly 22,000 (HBS have little respect for when Prime Ministers dissolve Parliament) in his second. That's growing social injustice 44X faster. No gato-pima effect to report here if you ask me. And something that's almost impossible for a bunch of Bretton Woods clowns to pick up. Ex-ante.