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Saturday, November 23, 2024

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BoM Only Solvent Because Of Rupee Depreciation, Says XLD

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Amendments to the IBA and the rejection of the Covid 19 debates dominated the press conference of the Platform of Hope on Saturday morning at Sufren in Port Louis.

The leaders of this platform took turns to castigate the amendments to the IBA which they consider anti-democratic and which signs the death of private radio stations…

The leader of the Opposition focused on the financial state of the Bank of Mauritius, as the annual report has finally been published.  For him, the content of the report is a “total disavowal” of what Renganaden Padayachy said in Parliament and of previous BoM communiqués.

Xavier-Luc Duval revealed that the report indicates that out of the 60 billion rupees of the “loan”, 55 billion rupees had to be written off.

He also said that BoM’s figures show that reserves have dropped from Rs 43 billion to Rs 3 billion. “BoM is solvent today only because of the depreciation of the rupee. For, the assets of the institution have increased only on paper,” he added.

For him, the BoM is “weakened today” and “unable to protect the rupee”. But unfortunately, it is the consumers who have paid the heavy bill because “their standard of living has decreased with the depreciation of the rupee to allow the government to steal the BoM”.

Xavier-Luc Duval also mentioned the fact that the Mauritius Investment Corporation has suffered losses of 600 million rupees.

The bank is therefore weakened and can no longer protect the rupee, which is depreciating against major foreign currencies.  Opposition leader says Mauritians’ purchasing power takes a hit

Regarding his motion on a debate on Covid-19, Xavier-Luc Duval maintains that by refusing the debates on Covid-19 yesterday in the Parliament, the Prime Minister and the members of the government have shown that the lives of Mauritians are not important.

Bérenger: “We will also challenge the draft amendment of the IBA in court

At a press conference this morning, Paul Bérenger dwelt on the IBA (Amendment) Bill. For him, “the rejection of this dictatorial law is unanimous. Everyone is against it, he said, except the MSM. For him, it is clear that this law targets Top FM, but also all other radio stations. However, for Paul Berenger, there is a trend. The country, according to him, is moving towards dictatorship because before, there was the law on cyber security and cybercrime. “We will challenge this law. The case will be filed in court very soon. But we will also challenge the IBA (Amendment) Bill once it is passed. We will go to the Privy Council if we have to,” he said.

Paul Berenger also blamed the majority for preventing a debate on the health situation. He also welcomed the “total unity” of the Opposition on the Chagos, the motion for a debate on the health situation and also the IBA (Amendment) Bill.

Nando Bodha argued that the amendments to the IBA should be withdrawn as soon as possible. For him, the media and freedom of broadcasting must be a pillar of democracy.

And regarding the Covid 19 and the new variant, he also asked for a screening of all passengers, who arrived from Southern Africa in the last two weeks and a PCR test for all these passengers concerned

As for Roshi Bhadain, he argues that a one-year license is the death of private radio stations.

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