Authorities in Mauritius have issued an arrest warrant for the former governor of the central bank in relation to an investigation into a conspiracy to commit fraud.
Harvesh Kumar Seegolam, the former governor, is currently outside the country and will be apprehended upon his return, as stated in a notice published in local newspapers on Sunday.
No further details regarding the case have been disclosed, and Seegolam has not yet provided any comments.
This action by the police’s anti-money-laundering unit marks a significant move by the administration of Prime Minister Navin Ramgoolam, who recently claimed that the previous government had manipulated the nation’s gross domestic product (GDP), budget deficit, and public debt figures for an extended period.
In a report presented to parliament, Ramgoolam also accused the central bank of engaging in money printing to finance the Mauritius Investment Corporation (MIC), established in 2020 to assist businesses in coping with the impacts of the COVID-19 pandemic.
According to Ramgoolam’s report, the MIC was intended to be funded through the bank’s official foreign exchange reserves.
“The act of printing money by the Bank of Mauritius to support the MIC was reckless and has adversely affected the monetary system, especially given that the banking sector was already experiencing excess liquidity,” the report stated.
Ramgoolam resumed his role as prime minister after achieving a decisive victory in the parliamentary elections held in November.
Mauritius, located approximately 2,000 kilometers (1,240 miles) off the eastern coast of Africa, is regarded as one of the most stable democracies on the continent and has cultivated a thriving economy supported by its finance, tourism, and agricultural sectors since gaining independence.
However, concerns regarding corruption and the erosion of civil rights have intensified under the previous administration of Prime Minister Pravind Jugnauth, which faced allegations of involvement in unauthorized wiretapping activities.
