Mauritius: A House of Cards?
Opinion
By Samad Ramoly
Mauritius is at a crossroads. Our current “extractive” economic model — built on a tiny landmass with lopsided ownership — is a high-risk gamble. While flashy GDP figures look good on paper, the foundation is cracking under the weight of a tax-haven reputation, a weakening currency, and a rampant drug crisis. We are trading long-term stability for short-term capital, creating a “planning to fail” scenario.
The Structural Red Flags:
- The Offshore Trap: We are hyper-vulnerable to tax avoidance, money laundering, global regulations and sudden capital flight.
- Emptying Plates: Prioritising real estate over local farming has left us dangerously dependent on global food markets global food markets.
- The Death of Industry: By abandoning manufacturing for finance, we’ve hollowed out our long-term production and job market.
- The Elite Gap: This “ultracapitalist” cycle enriches a small circle of landowners while the environment and local labour force pay the price.
Mauritius Times ePaper Friday 1 May 2026
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