SANUSI 2.0: Newly Elected Mauritius Govt. Sacks Its CBN Gov. Despite Having 2 Years Left To Go

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Reuters reports Mauritius central bank governor Rundheersing Bheenick said he has been sacked by the newly elected Government in Mauritius  after seven years in charge of the bank.

He told Reuters;

“My contract has been terminated with immediate effect. I have received a letter from the secretary of the President of the Republic,” .

Bheenick, who received the dismissal letter on Friday, was sacked despite been handed a third three-year term by the bank in 2013. Bheenick said he would now consult his lawyers about whether the government, elected earlier this month, had the constitutional right to sack the central bank governor. The government did give reason for his sack.

Is this now becoming a trend?

Back in March thre former CBN  Governor for Nigeria, Lamido Sanusi was also “suspended” by the current president under controversial circumstances. The office of a Central Bank Governor is supposed to be autonomous and structured to be less controlled by government and politicians. However, we are now beginning to see politicians flex their muscles by intimidating the Central Bank.

This is not a good precedence and if left unchallenged may see more politicians influence monetary policy for their own political benefits.