FX.co ★ Mauritius Central Bank Governor to Resign This Week

Mauritius’ Central Bank Governor, Rama Sithanen, has announced his resignation following a request from Prime Minister Navin Ramgoolam. This decision comes amid indications of internal conflict within the bank. "For the sake of the central bank's interests, the nation's welfare, and to ensure the institution's stability and harmony, I have decided it is best for me to step down," Sithanen declared during a televised address on Saturday evening, as reported by Reuters. He confirmed his intention to resign in the upcoming week. On the same day, Prime Minister Ramgoolam, while affirming his respect for Sithanen's abilities, stated that he had asked for his resignation to help restore the Bank of Mauritius’ tranquility. Ramgoolam plans to appoint a new second deputy governor on Monday, followed by the selection of a new governor. This development follows the resignation of Deputy Central Bank Governor Gerard Sanspeur on August 29, after an altercation with the governor's son.